When Pi Meets the Sky: A Tale of Coins and Crashes

by

​Ah, the tale of Pi Network’s native cryptocurrency, PI, has certainly taken a turn for the worse. As of late, this digital marvel has plummeted to a mere $0.68, marking a jaw-dropping 74% dive from its lofty peak of $2.98 in February 2025. 😱

Major Token Unlock Ahead, or Perhaps a Disaster in Disguise?

One might say that the upcoming unlocking of over 124 million PI tokens this month is like opening Pandora’s box, with a staggering 1.6 billion tokens set to flood the market over the next year. Add to that the fact that trading activity is slowing to a crawl, and you’ve got a recipe for a crypto catastrophe. 😩

But fear not, dear readers! The Pi Core team has announced the grand success of PiFest on the Open Network, where a record 125,000 registered sellers, 58,000 active sellers, and 1.8 million Pioneers flocked to the Map of Pi, proving that Pi is not just a number but a global phenomenon. 🌍✨

Community Members Demand New Leadership: A Call for Sanity

Alas, not everyone is thrilled with this news. Dr. Altcoin, a voice of reason in the crypto chaos, has noted that since the commencement of PiFest, trading activity has resembled a snail’s pace, with the only transactions being the sale of Pi for cold, hard cash. 🐌💰

He has also taken a few jabs at the Pi co-founders, suggesting that they seem as disconnected from the community as a goldfish from the ocean. The community is clamoring for more transparency and fresh leadership with actual crypto expertise, tired of the same old routine reports that read like a bedtime story for insomniacs. 📜😴

Making matters worse, the Pi Network’s mining rate has ticked down by 1.18% this month, settling at a measly 0.0029030 π per hour. While there were whispers of Pi listing on major exchanges like Binance and Coinbase, it seems the crypto gods have other plans. The BTCC exchange did add Pi for spot trading, but it hasn’t exactly set the world on fire. 🌡️🔥

Over the past seven days, the Pi coin price has taken a nosedive of 20%, with the next crucial support levels at $0.60. The market is seeing a significant selling pressure, with daily trading volumes plummeting 52% to $148 million. This is not just a dip; it’s a free fall. 🚀💥

Pi Network is currently forming a classic falling wedge pattern, teetering on the edge of the $0.687 boundary. A breakout above the $0.71–$0.72 range could signal a bullish move, potentially pushing the price toward $0.75–$0.78, where the resistance lies. But let’s not get too hopeful just yet. 🤞️📉

In a recent X post, Dr. Altcoin warned that Pi’s price could continue to spiral downward toward $0.60 unless the Pi Team takes drastic action to reduce the 6.78 billion circulating supply through token burns. 🚧🔥

Pi is likely to keep dropping toward $0.6 until April 7, unless the Pi Team significantly reduces the 6.78 billion supply through token burns.

— Dr Altcoin (@Dr_Picoin) April 2, 2025

Pi Network’s Growing Inflation Concerns: A Balloon Ready to Burst

Pi Network is quickly becoming one of the most inflationary cryptocurrencies, a title that might stick if the trend continues. With a max supply of 100 billion Pi coins and only 6.7 billion currently in circulation, the token unlocks are only adding to the chaos. 😵‍💫

While other cryptos tackle inflation by burning tokens, it’s anyone’s guess if Pi has a similar plan. Options could include burning tokens not moved to the mainnet by June or using ecosystem fees for token burns. 🗑️🔥

Nicolas Kokkalis, Pi’s co-founder, is expected to shed some light on these issues in the project’s first X Space. He’ll likely discuss Pi Network’s future plans, including the roadmap and upcoming features. One can only hope for a magic wand and a few good ideas. 🪄💡

Read More

2025-04-02 12:53