Pi Network Faces Growing Criticism as Pi Coin Struggles Below $0.70

The Pi Network is under increasing pressure as Pi Coin (PI) price continues its downward slide, dropping another 4% to fall below $0.70. A decline in trading activity further suggests that investor enthusiasm is waning, exacerbated by recent token unlocks that have dampened market sentiment.

PiFest Fails to Revive Community Confidence

Despite the Pi Core Team celebrating the success of PiFest—with over 125,000 registered sellers and 1.8 million users engaging with the ecosystem—the community response has been far from positive. Critics argue that Pi trading activity has reached new lows, with most transactions involving direct cash sales rather than ecosystem expansion. Some users have also called for more transparent leadership and clearer communication strategies to address growing concerns.

Adding to the turbulence, Pi Network reduced its base mining rate by 1.18% this month, now at 0.0029030 π per hour. While some believe this is part of the platform’s long-term economic strategy, others see it as another sign of declining engagement.

Meanwhile, despite speculation around major exchange listings on Binance and Coinbase, no official announcements have materialized. The recent spot trading availability on the BTCC Exchange also failed to boost PI’s price, indicating weak investor confidence.

What’s Next for Pi Coin?

Technical indicators show Pi Coin is forming a falling wedge pattern, and it is currently testing support near $0.687. A breakout above $0.71–$0.72 could trigger a recovery toward $0.75–$0.78, but for now, heavy selling pressure remains dominant. Analysts predict PI could dip below $0.60 in April unless significant bullish momentum emerges.

With the community demanding change and Pi Coin’s trajectory uncertain, the coming weeks will be critical in determining whether Pi Network can regain trust or continue its decline.