Pi Coin’s trading volume has also plummeted, reflecting waning investor confidence. The token’s decline continues despite the Pi Core Team’s announcement of high participation in the inaugural PiFest event.
Over the past week, the Pi crypto value has fallen by approximately 20%, intensifying concerns about its ability to maintain critical support at $0.60. This downturn has led to a heated debate among community members, with some calling for a leadership change to revitalize the project.
Declining Engagement Despite PiFest Participation
The Pi Core Team recently announced that over 125,000 sellers participated in PiFest, with more than 58,000 active sellers and 1.8 million Pioneers using the Map of Pi feature. However, despite these figures, many in the community remain skeptical about the event’s impact on Pi Network trading.
Pi Network’s PiFest saw strong participation, but PI Coin still dropped 5.7%, raising concerns over investor confidence. Source: NameCoinNews via X
Dr. Altcoin, a prominent community member, expressed concern over the declining activity within the ecosystem. “Since PiFest started, trading in the ecosystem has been at its lowest. The only trade happening is selling Pi for cash,” he stated. He also criticized the Pi Network leadership for being disconnected from the realities of the average Pi currency holder.
Communication Issues and Leadership Concerns
One of the most significant criticisms directed at the Pi Core Team is their lack of transparent communication. Many users feel that monthly updates are insufficient, failing to address critical issues such as Pi Network’s delayed mainnet launch, exchange listings, and long-awaited KYC resolutions.
The Pi Core Team’s predictable monthly updates frustrate the community, sparking calls for transparent communication and new leadership. Source: Dao World via X
A growing faction within the community is now advocating for a leadership shakeup. They argue that new leadership with a deeper understanding of cryptocurrency markets and community management could help restore faith in the project. Some members have even suggested a decentralized governance model to improve transparency and decision-making.
Mining Rate Reduction Adds to Investor Concerns
Adding to the uncertainty, the Pi Network’s base mining rate has dropped again, declining by 1.18% to 0.0029030 π per hour. This reduction aligns with the project’s long-term strategy but has raised concerns among miners who see diminishing incentives.
Pi Network’s base mining rate dropped 1.18% this month, falling to 0.0029030 π per hour. Source: Pioneers π via X
Some investors speculate that lower mining interest is linked to Pi cryptocurrency’s decreasing value and lack of major exchange listings. While rumors of Pi Network Binance or Coinbase listings continue to circulate, no official confirmations have been made. Recently, BTCC added Pi for spot trading, but this development failed to generate any significant upward momentum in the Pi token price.
Technical Analysis: Will Pi Coin Hold $0.60 Support?
The Pi Coin market is currently experiencing a bearish trend, with the token forming a falling wedge pattern. The next crucial support level is at $0.60, and if breached, further downside could see Pi Coin price heading toward its all-time low of $0.6152.
Pi Network’s price is nearing the crucial $0.60 support level. Source: TradingView
Technical indicators show that Pi Network Coin price is struggling to maintain stability. Trading volumes have declined by 52% to $148 million, and momentum indicators suggest weakening buying interest. If Pi fails to hold support at $0.60, it could trigger additional sell-offs, putting the token at risk of further declines.
However, if Pi crypto price manages a breakout above the $0.71–$0.72 range with strong volume, it could reverse its downward trajectory. Such a move might push Pi Coin worth toward $0.75–$0.78, where key resistance levels lie.
Future Prospects: Can Pi Network Regain Momentum?
Despite the continuing hardships, several market experts think Pi crypto still has room for recovery. Forecasts are that if Pi Network succeeds in obtaining listings with large exchanges and enhances transparency, it will possibly hit price levels of $3 and more in the future.
The Pi Network price chart is forming a bullish Adam and Eve pattern, signaling a potential breakout after testing strong support. Source: SufficientHope31983 on TradingView
For now, however, Pi Network news remains centered on issues of leadership, declining trading volume, and a murky path forward. Investors are watching closely to see if the project can regain credibility and push the Pi Network Coin price back toward its previous highs.
Final Thoughts
The price of the Pi cryptocurrency continues to decline as investors and community members demand improved leadership and clearer communication from the Pi Core Team. With historical lows in trading volumes and the next level of support at $0.60, the upcoming weeks will determine if the Pi Network stabilizes or is subjected to additional pressure.
A potential breakout above $0.71 could revive optimism, but without concrete developments such as exchange listings or governance improvements, Pi Network’s market position remains fragile. The community’s response to these ongoing issues will likely shape Pi’s future trajectory.
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