Pi Coin’s Hype Fizzles Out: PI Plummets from Top 50 Crypto Projects

Pi Coin's once-promising trajectory hits a brutal reality check as the project tumbles out of crypto's elite rankings.

Market Momentum Evaporates

The mobile-mined cryptocurrency—once touted as the 'people's crypto'—now struggles to maintain relevance amid fierce competition. Early adopters watch their paper gains dissolve while the development team scrambles to deliver on years of promises.

Investor Confidence Craters

Trading volumes nosedive as speculative interest shifts toward projects with actual working products. The absence of major exchange listings continues to haunt PI's liquidity prospects, leaving holders trapped in a speculative purgatory.

Another reminder that in crypto, hype alone can't pay the bills—no matter how many referral codes you spam in Telegram groups.

Pi Coin Falling Out of The Top 50 Projects By Market Cap

PI’s market cap is currently hovering at around $2.78 billion. It is the 49th largest crypto project by market cap. PI may fall to the 50th spot, being overtaken by Internet Computer (ICP), which is trailing behind by just a $2 million difference.

PI’s descent could be due to a general bearishness around volatile assets. Bitcoin (BTC), ethereum (ETH), XRP, and BNB have hit new peaks over the last month. Other crypto assets have struggled to gain much momentum. BTC has faced a sharp correction in the last few days. BTC’s dip may have led to a drop in investor confidence.

PI’s fall could also be due to the lack of real-world use cases for the asset. The project recently announced the Pi Hackathon 2025, in an attempt to bring more development to its mainnet. Many have questioned the new hackathon initiative. Jatin Gupta highlighted the monthly hackathons since 2023, which “vanished.” Gupta believes the new hackathon program will also fail.

Pi Network has launched PI Hackathon 2025, the first community-wide hackathon since the launch of Open Network! Developers are invited to build Mainnet apps that empower real-world utility using Pi and help shape the ecosystem—and compete for a chance to win up to 160,000 Pi in… pic.twitter.com/BWcM56nYMR

There is a chance that Pi Coin (PI) will regain momentum over the coming months. An interest rate cut could be just around the corner. A rate cut may boost investor sentiment and lead to a rise in risky investments. How the asset performs over the coming weeks may set the trend for the rest of the year.