financetom
Cryptocurrency
financetom
/
Cryptocurrency
/
Pi Network Under Fire: PI Token Plummets 16% to an All
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Pi Network Under Fire: PI Token Plummets 16% to an All
Apr 3, 2025 10:21 PM

TL;DR

Pi Networks native token cannot catch a break as its price has tumbled once again in the past 24 hours to a record low of just over $0.5. This latest decline came after a former PI proponent alleged the project to be a slow rug pull, while others have questioned the teams viability.

PI Token Price. Source: CoinGecko

PIs Latest Plunge

The first month and a half after PIs official launch and ability to be traded are a perfect example of a typical sell-the-news event in the cryptocurrency industry amid massive hype. Recall that the project actually started roughly seven years ago, and it was in development until February 20, 2025. Within this rather extensive time period, its community grew substantially even though it saw countless delays and controversial moves.

After PI went live, its price shot up from under $2 to $3 to mark a new all-time high. That was on February 26. Since then, it has been nothing short of a spectacular downfall. At press time, PI trades at $0.55, which is 81.5% lower than its record.

Hours ago, it charted a new all-time low of $0.54 (according to data from CoinGecko) after dumping by another 16-7% in the past day. Admittedly, the entire crypto market has struggled in the last 36 hours after Trumps latest tariffs, but very few large or mid-cap alts have produced such massive declines.

Actually, PI is the biggest loser from the top 100 alts. Next in line is SUI with -10% and all others are with single-digit drops, even the ever-volatile meme coins.

PI has fallen out of the top 30 alts by market cap. Recall that the asset was close to the top 10 just over a month ago.

Further Troubles Ahead?

The new all-time low comes just a day after a former PI proponent did an 180 and called Pi Network a slow rug. Crypto X is full with analysts and commentators that are trying to make sense of what is happening with PIs price and in the overall Pi Network ecosystem.

Dr Altcoin was skeptical about PIs long-term potential since most major exchanges, such as Binance, seem reluctant to list it, at least until the Pi Core Team (PCT) becomes fully transparent about its tokenomics.

At such a low price, the Pi community will struggle to utilize DApps within the Pi Ecosystem. If this continues for months, most Pi holders will sell off their coins and shift to newer crypto projects. Dr Altcoin added.

The only move ahead, the X user concluded, is to burn billions of Pi coins from its Pi Foundation wallets. This is the only way to push the price above $10 and sustain the networks long-term value.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Dormant Bitcoin Miner Wallet Resurfaces After 14 Years, Transfers 50 BTC to Binance
Dormant Bitcoin Miner Wallet Resurfaces After 14 Years, Transfers 50 BTC to Binance
Jun 27, 2024
According to blockchain analytics platform Lookonchain, a Bitcoin wallet that had been inactive for 14 years has reemerged. The entity deposited 50 BTC worth around $3.05M to Binance. Early Bitcoin Miner Wallet Moves 50 BTC The dormant wallet, belonging to an early Bitcoin miner, sprang to life on Thursday, moving its entire balance of 50 BTC worth roughly $3.05 million...
Bitcoin Miner CleanSpark (CLSK) Buys Out GRIID In $155 Million Stock Transaction
Bitcoin Miner CleanSpark (CLSK) Buys Out GRIID In $155 Million Stock Transaction
Jun 27, 2024
CleanSpark (CLSK) – one of the largest publicly traded Bitcoin mining firms – announced on Thursday that it had acquired one of its smaller competitors, GRIID Infrastructure, in an all-stock deal. The $155 million deal immediately brings 20 megawatts (MW) of additional power to CleanSpark to bolster its mining operations. Another 400 MW of power is expected to be added...
Spot Ethereum ETFs Could Launch Next Week, Minor Issues Remain: Report
Spot Ethereum ETFs Could Launch Next Week, Minor Issues Remain: Report
Jun 27, 2024
The US Securities and Exchange Commission (SEC) might approve the latest tweaks about the spot Ethereum ETFs by July 4, as discussions between asset managers and regulators reach their final stages. While speaking to several industry insiders, Reuters observed that eight asset managers, including BlackRock, Franklin Templeton, and Grayscale Investments, are closing in on the final stages. Many of these...
Ethereum L2 Ecosystem Throughput Set to Outpace Solana by 100x in 5 Years: Analyst
Ethereum L2 Ecosystem Throughput Set to Outpace Solana by 100x in 5 Years: Analyst
Jun 27, 2024
The layer-2 ecosystem remains robust with protocols and EVM (Ethereum Virtual Machine) scaling platforms growing rapidly and becoming ubiquitous, contrary to some bearish claims, said Ethereum community member Ryan Berckmans in a post on X on June 26. His comments came in response to a post from Movement Labs founder Rushi Manche, who said, “EVM L2s will go to zero....
Copyright 2023-2025 - www.financetom.com All Rights Reserved