 — Pi Coin’s market reality is diverging sharply from the relentless optimism on social media. The token has continued its downward slide despite the March 17 Open Mainnet launch triggering a brief rally to $1.50, the gains have been erased, and Pi Coin’s 24-hour trading volume has dropped 22%. Liquidity){kind=link}
NOIDA (CoinChapter.com) — Pi Coin’s market reality is diverging sharply from the relentless optimism on social media. The token has continued its downward slide despite the March 17 Open Mainnet launch triggering a brief rally to $1.50, the gains have been erased, and Pi Coin’s 24-hour trading volume has dropped 22%.
Liquidity concerns are mounting as exchange listings remain scarce, with only smaller platforms like OKX and Bitget offering trade.
Meanwhile, Pi Network’s founder, Nicolas Kokkalis, has remained largely absent from the conversation. His official X (Twitter) account has seen little activity in recent weeks, fueling speculation about the project’s direction. However, that has not stopped the hype train from running at full speed.
Parody accounts, posing as Kokkalis and other Pi Network figures, continue to flood X with posts hinting at major exchange listings and imminent price surges. While clearly labeled as parodies, their tone and content often blur the line between speculation and misinformation. The result: a community caught between market realities and an endless stream of hopium.
Bulls Struggle as Bears Hold Control Near Key Levels
Pi Coin (PI) attempted a recovery on March 19 but remains under selling pressure after a prolonged downturn. The token
spiked nearly 9% to reach a daily high near $1.22, yet struggled to reclaim key resistance zones. As a result, Pi coin price pared most of its gains, though remaining in the green somehow.
Recent price action shows Pi Coin’s rejection near $1.41, aligning with the 0.786 Fibonacci retracement level. The failed attempt to reclaim this level resulted in another downturn, dragging PI toward immediate support near $1.10. A break below this zone would expose the next support near $1.04, with a deeper downside risk toward $0.91 if selling pressure intensifies.
On the upside, immediate resistance lies near $1.26. A sustained move above this level could open the door for a potential retest of $1.41. However, the broader trend remains bearish, with Pi Coin still trading well below its 20-day EMA at $1.54.
Volume data shows declining participation, indicating a weak bullish conviction. If buyers fail to reclaim lost ground, Pi Coin could remain vulnerable to further downside. Market sentiment remains cautious, especially amid broader skepticism surrounding Pi Network’s exchange listings and liquidity concerns.
The ongoing speculation surrounding Pi Coin is largely fueled by a handful of X accounts pushing an overly optimistic narrative. One such account, @drnicolas_, a parody of Kokkalis, recently amplified speculation about a potential Coinbase listing.
The post referenced a Pi-branded pie shared by Coinbase’s Chief Legal Officer Paul Grewal on Pi Day, interpreting it as a subtle hint toward a future listing. While no official confirmation followed, the post gained significant traction, further cementing speculation as fact within parts of the Pi community.
Similar tactics have been used to pressure Binance. The same parody account and others have repeatedly called out the exchange, questioning why a previous community vote on a Pi listing has not translated into action.
Posts questioning when Binance will list have fueled community frustration, making it appear that Binance is deliberately withholding a listing rather than operating on its listing criteria.
This ongoing hype cycle has created a stark contrast with Pi Coin’s actual performance. While social media posts paint a picture of imminent breakthroughs, the token remains sidelined on major exchanges, its price struggling amid declining volume and liquidity.
Currently, Pi Network’s official channels have not validated any of the claims circulating online, leaving investors in a precarious position—torn between hope and harsh market realities.