In recent weeks, major news related to Pi Coin has rocked the cryptocurrency market. Recent highlights include a sharp drop in the asset’s price, the suspension of trading on the BitMart exchange, the approval of the Fruity Pi DApp within the Pi Network ecosystem, and growing expectations for the coin’s listing on Binance.
In addition to strategic developments, Pi Coin’s technical analysis points to signs that may indicate a possible recovery in the short term, while the community remains attentive to the project’s next steps.
Pi Coin, once a stalwart among emerging cryptocurrencies, is facing a tough time. The asset has accumulated a decline of almost 80% compared to its peak of $3, prompting warnings about the project’s liquidity and sustainability from major brokerage firms.
Among the factors that have worsened the situation is the suspension of Pi trading on BitMart. The broker is awaiting approval of the KYB (Know Your Business) process for Pi 1:1 swaps. Despite this withdrawal, analysts note that approval of this process could restore access to the token and help restore its price towards $1.
As Consensus 2025 approaches, the Pi Network is accelerating initiatives to strengthen its community. Recently, the Core Team (PCT) approved Fruity Pi, a new decentralized application (DApp) focused on puzzle games.
Fruity Pi allows players to match fruits and earn rewards, offering a simple and interactive experience. The DApp has already received the purple verification mark, confirming official verification in the ecosystem. In addition, it allows direct connection to Pi wallets, allowing Pi tokens to be spent in the game itself, increasing the real-world utility of the currency.
Binance’s recent changes to its listing policy have also excited the Pi Network community. The exchange has introduced three listing paths: Binance Alpha, futures listings, and spot listings, focusing on promising projects and high-volume tokens.
In February, an open Binance poll revealed that 85% of participants supported Pi Coin’s listing on the platform. Although there has been no official confirmation yet, the result has increased investor confidence in the possibility of an early listing.
Pi Network cryptocurrency lost support at $0.70 last week and has been facing selling pressure since then, causing the price to retreat to the $0.65 area. As a result, Pi Coin has accumulated a 23.7% decline over the past month. The hourly chart of Pi Coin shows the formation of a descending wedge pattern, indicating the possibility of a bullish breakout. A close above the $0.70 resistance could open up room for an appreciation of around 10%.
If the buying pressure continues, the next relevant resistance is located at $0.825 with the prospect of a new test in the $1 region. On the other hand, if the selling pressure increases, the price could pull back to the $0.50 range.
Among technical indicators, the Chaikin Money Flow signals a decrease in selling pressure, while the RSI (Relative Strength Index) suggests that potential growth may be limited by a lack of consistent buying power.
