Why Is the Pi Network Price Dropping?

The price of Pi Network has fallen 43% from its peak. Examine the three primary causes of the bearish sentiment surrounding Pi Coin.

Key Takeaways

• Due to the token’s delayed debut on Binance, potential whale selling, and strong bearish trend, the price of Pi Network is plummeting today.
• The exchange has not yet listed Pi Coin, even though the Binance community poll ended with a large number of users endorsing the listing.
• The price of Pi Coin may fall below $1 to $0.70 if the adverse trend persists.

The price of Pi Network has decreased by 43 percent since it peaked at $2.98 just a week ago. Following US President Donald Trump’s announcement of a crypto strategic reserve, Pi Coin was also one of the few altcoins that did not see significant gains over the weekend. As Pi Network declines, let’s examine the three primary causes of the downward trend.

Three Main Causes of Today’s Pi Network Price Crash

After falling 7% in the past 24 hours, the Pi Network token is now trading at $1.67. Last week, Pi Coin hit a new high of $2.98, but since then, its value has fallen by 43%. Take a look at the top three causes of the Pi Network pricing fall down below.

Listing on Binance Postponed

The excitement around exchange listings is one of the reasons why the price of Pi Network has been going up since its inception. But buyers are becoming tired of waiting for the coin to be listed on Binance.

Between February 17 to February 27, Binance held a community referendum in which users were asked to vote on whether or not Pi Coin should be included. In the end, 86% of Binance users were in favor of the listing. Despite the fact that the voting period ended almost a week ago, Binance still has not made the Pi Network token available for trade.

Investors may lose faith in Pi Coin and its future value may plummet if Binance does not list it.

Due to Pi Coin’s Slow Adoption, Whales Are Probably Selling It

Manipulation by whales is another possible cause of Pi Network crashes. The present volatility is due to a pump-and-dump operation by whales, according to analyst Dr. Picoin. Launching decentralized applications (dApps) on Open Network will probably cause the price of Pi Network to settle, according to Dr. Picoin’s analysis.

Zito Realty, a realty firm based in Florida, recently announced that it would use Pi Coin for property purchases. If this tendency keeps up, PiCoin might break away from the meme currency market and have a significant surge in value.

Growing Bearish Pressure Causes the Pi Network Price to Drop

The declining parallel channel, which represents bearish momentum, is becoming stronger, as shown on the hourly chart of the Pi Network token. Bears are in charge as the Relative Strength Index (RSI) is below 50. Concurrently, selling pressure is building as the RSI has been making lower lows.

The Awesome Oscillator is displaying increasing bearish momentum, which might potentially intensify the current slump in the price of Pi Network in the coming days. The Pi Network token’s value has dropped because sellers have more power than buyers, according to the RSI and the AO.

The $1.49 support level can be breached by PI Coin if the current negative trends persist. If the price of Pi Network falls below this level, it will break below the lower trendline and begin to fall faster. Pi Coin could go below $1 to $0.70 if this support is not defended.

Conclusion

For multiple reasons, the price of the Pi Network coin is falling. Among these issues is the fact that the Binance exchange has been slow to list Pi Coin. One factor fueling the bearish momentum is the fact that whales are probably selling Pi Coin as well. With the bears taking the reins, the price of Pi Network can go below $1 and find support at $0.70.

FAQs

Why is the price of Pi Network plummeting?

Due to the token’s delayed debut on Binance, the price of Pi Network is plummeting today. The bearish sentiment is also being fueled by delayed adoption and whale activity.

Is Pi Network becoming more popular?

Following the announcement by Florida’s Zito Realty that it will take Pi Coin as payment, the Pi Network is gradually gaining traction.

In March 2025, will Binance list Pi Coin?

Although a community vote on this proposed listing has closed, Binance has not stated if it will offer Pi Coin in March 2025.