- Pi Coin has plunged 80% year-to-date, with trading volumes collapsing 70% as it becomes the worst-performing crypto among the top 40 by market cap.
- Mounting delays in mainnet migration and a lack of major exchange listings have shattered investor confidence, fueling predictions of further price drops toward $0.10.
Pi Coin (PI), once touted as a potential breakout token, is facing one of its most turbulent periods yet. With a staggering 80% loss year-to-date and a sharp decline in trading volumes, investor confidence in the project has hit rock bottom.
On the contrary, major cryptocurrencies are experiencing significant rallies. Unfortunately for Pi Coin, the digital asset continues to sink, making it the worst-performing asset among the top 40 by market cap.
Notably, at the time of press, the digital asset is trading with $0.3519, a 3.72% surge in the past 24 hours. On top of that, its been a roug patch evidenced by a 16.15% and a 22.81% decline in the past week and month respectively.
Trading Volumes Collapse Amid New All-Time Lows
The bearish outlook for Pi Coin has been reinforced by a dramatic drop in trading activity. According to CoinMarketCap, Pi鈥檚 daily trading volume plummeted from a high of $140 million on August 2 to just $43 million, a drop of nearly 70%.
This volume collapse coincided with a new all-time low price of $0.335, marking an ominous signal for the token鈥檚 near-term future.
Worse still, Pi Coin briefly touched $0.3220 during a 4-hour trading window, breaking below a key trendline support with elevated volume. While it did manage a minor bounce from that low, analysts believe it could retest that level soon. The Relative Strength Index (RSI) is hovering just above 30, indicating a strong bearish momentum with no immediate signs of recovery.
Delayed Mainnet and No Major Listings Fuel Bearish Sentiment
Pi鈥檚 declining fortunes are being blamed on lackluster progress by the Pi Core Team. The long-promised migration of Pi tokens to the public mainnet has faced repeated delays, frustrating the community and weakening the project鈥檚 credibility. Additionally, the absence of any major centralized exchange (CEX) listings has kept Pi largely inaccessible to broader retail investors.
While comparable market-cap tokens like Mantle (MNT) and Ondo (ONDO) are posting gains of 53% and 16% respectively in the past 30 days, Pi has dropped 26%, highlighting its failure to ride the broader crypto market鈥檚 bullish wave.
Bearish Forecast: Can Anything Save PI Now?
Unless the Pi Core Team delivers a surprise, like a listing on a major CEX or an acceleration in mainnet developments, analysts believe the price could collapse even further, potentially hitting $0.10.
The market currently shows little appetite for the token, and low volumes suggest buyers are unwilling to support current price levels.
In the absence of a strong catalyst, Pi Coin holders may continue to face tough times as the token drifts further away from its former promise.
