After a long period of weakness, Pi Coin is currently trading around 0.34 USD, down nearly 90% from its peak in early 2025. This is the lowest level in recent months, clearly reflecting the loss of trust from investors and the internal issues that the project has yet to address.

Despite a period of attention due to the free mobile mining strategy and a large user community, Pi Coin is currently struggling to prove its sustainability as market trust gradually diminishes.

Where is the selling pressure coming from?

The recent selling pressure of Pi is not a random phenomenon but the result of many factors related to trading infrastructure and market liquidity. One of the direct causes is that many major exchanges have stopped supporting margin trading for Pi. This forces traders to close positions involuntarily, leading to sudden withdrawals, creating mechanical selling pressure that does not reflect true demand from long-term investors. As margin positions are liquidated, selling pressure not only increases in volume but also exacerbates short-term price volatility, especially in illiquid markets.

Additionally, the sudden increase in trading volume recently is not a sign of new capital flowing in, but mainly reflects the flight activity of investors as panic sentiment spreads. This phenomenon often occurs during downturns, when retail investors and short-term traders withdraw from their positions together. The increase in volume in the context of lacking real demand significantly exacerbates the level of depreciation, unlike popular altcoins with high liquidity and better buying-sell balance.

Furthermore, the limited liquidity of the Pi market is a key factor increasing selling pressure. The market's ability to absorb selling pressure is very low, making prices susceptible to deep declines even with a small amount of selling, while larger altcoins can disperse selling pressure and maintain more stable price volatility. This means that each wave of selling creates significant price shocks, exacerbating investor sentiment.

According to experts, the core weakness of Pi lies in the fact that this currency has not been officially listed on major exchanges and lacks trading volume on reputable platforms. This situation makes Pi easily influenced, while also creating extreme volatility whenever investor confidence wanes. The combination of lack of liquidity, selling pressure from margin trading, and weak market sentiment has intensified widespread selling pressure, making Pi one of the most vulnerable altcoins in the current market context.

Fundamental Perspective: What Does Pi Lack?

1. Organizational Support is Almost Non-existent

Unlike many cryptocurrency projects backed by large investment funds, Pi Network has received very little participation from reputable financial institutions. This creates a significant gap in resources and market trust. In the cryptocurrency world, the involvement of financial institutions not only provides capital but also brings strategic development, marketing advantages, and ensures long-term value stability. Without this support, Pi becomes vulnerable to price volatility and struggles to build a solid foundation for real-world applications.

2. Lack of Innovative Real-World Applications

Pi Network once aimed to build a decentralized ecosystem with many real-world applications, but so far, most remain just ideas. Users mainly participate in mining Pi and internal trading, while specific use cases capable of creating real value have yet to emerge. The lack of useful applications makes it difficult to convince both investors and users of the long-term value of the token, creating significant barriers to expanding the network and attracting potential business partners.

3. The Community is Gradually Growing Cold

One of the biggest advantages of Pi Network is its large community of miners. However, this advantage is gradually losing its vibrancy as expectations stretched over many years have yet to yield clear results. The significant decline in community enthusiasm is a concerning sign, as in early-stage cryptocurrency projects, the community is the 'backbone' ensuring development and spread. When the community loses interest, Pi's ability to sustain activity and develop its ecosystem in the long term will face significant challenges.

Technical Analysis: Sustainable Downtrend?

From a technical perspective, Pi Coin is showing many weak signals, indicating a high probability of a sustainable downtrend. The recovery support level of this coin is decreasing, reflecting weak demand and a lack of buying momentum from the market. At the same time, the increase in trading volume while prices are falling indicates that capital is leaving the market, rather than accumulating, which is a clear sign of panic sentiment and continued selling pressure.

The important support area at 0.3 USD is currently the last defensive line. If this level is broken, Pi risks quickly falling to the 0.25 USD range and even 0.1 USD, opening up a scenario of deep decline. This situation is further emphasized by technical indicators and price patterns showing that the coin is gradually losing strength from the community and betting capital.

Some experts believe that the chart of Pi 'looks like failed altcoins in previous cycles – initially propelled by the community, then gradually losing interest and sinking into oblivion.' This assessment reflects the long-term risks of the coin, as both fundamental and technical factors have yet to create a solid foundation to maintain value.

Investor Sentiment: Deeply Divided Trust

Investor sentiment around Pi is deeply divided, reflecting a lack of consensus on the outlook for this coin. Part of the supporters still believes that Pi has potential, especially if the project can achieve official listings on leading exchanges or launch real-world applications that the team has promised. According to them, the current price is not a sign of decline but an opportunity to accumulate ahead of a potential strong upward wave in the future.

On the contrary, the group of skeptics is increasing. They consider Pi merely a 'virtual token' lacking fundamentals, with no specific product and easily forgotten like many failed altcoins in previous cycles. From this perspective, the current decline is not just short-term volatility but a sign of a long-term recession, as the community gradually loses trust.

Notably, the overall context of the cryptocurrency market is also unfavorable for Pi. Market sentiment currently prioritizes high liquidity, large assets, and clear utility value. This trend makes Pi, lacking both liquidity and real applications, increasingly struggle and physically to attract new capital. While optimists continue to hope for a 'boost' from an official listing, the majority view Pi as a classic example of risk as the community gradually loses patience.

Three Scenarios for Pi Coin in the Coming Time

1. Optimistic Scenario – Recovery Opportunity

In the event that Pi Network takes strategic 'turning point' steps, such as official listings on major exchanges (Binance, Coinbase, OKX, HTX...) or launching a truly applicable application that generates real cash flow, market sentiment could shift positively. At that time, Pi Coin has the potential to recover and move toward a price of around 0.65 - 0.75 USD. However, to surpass the 1 USD mark, the project needs more than just a price increase – specifically, it must prove the sustainability of its utility value, attracting real users rather than merely relying on short-term speculative activities.

2. Neutral Scenario – Holding Breath

If Pi does not make significant progress but also does not experience negative shocks, the price could continue to fluctuate around 0.3 - 0.4 USD in the coming months. This is seen as a 'holding breath' phase, as the project takes time to finalize the product, expand the ecosystem, and restore trust from the community. However, this state also means that Pi will struggle to create new attractiveness, and long-term investors may lose patience. Essentially, this scenario does not change the situation but only helps Pi delay the downturn pressure.

3. Negative Scenario – Cycle of Lost Trust

If selling pressure continues to dominate and the project does not provide any signals of improvement, Pi faces a significant risk of breaking the support level of 0.25 USD. At that point, the market may push the price below 0.1 USD or even lower, turning Pi into one of many altcoins that once 'made waves.'

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