Pi Coin Drops 78% From Peak, Faces Bearish Trend

Pi Network, a blockchain-based cryptocurrency launched in 2019, has been making waves with its unique mobile-first mining model. The coin, which allows users to mine via smartphones, has garnered a massive user base of over 35 million. However, despite initial expectations of a listing price of $50, Pi Coin was listed on exchanges in February 2025 at around $3, only to fall to nearly $0.60 — a sharp 78% drop from its peak.

The current price charts of Pi Network indicate a tight trading range with steadily dropping volumes, raising concerns about its ability to hold a crucial support level around $0.60. The coin has been struggling to break past resistance levels near $0.79, while buyers are showing signs of hesitation at lower levels. Key indicators such as the RSI, MACD, and Stochastic RSI reflect weakening momentum, with most metrics leaning bearish. Additionally, a descending wedge pattern has formed since mid-May, trapping the price within it.

According to CoinDCX, Pi Network is expected to start November 2025 on a bullish note, reclaiming the $2.00 mark and potentially rising to around $2.38 to $2.40 by month’s end. In December, the bullish momentum may strengthen, pushing the price to $2.75 to $2.80. However, this optimistic outlook is tempered by several challenges facing Pi Coin, including the pending launch of its full mainnet, limited exchange listings, regulatory uncertainty, and overhyped comparisons to Bitcoin.

Despite the bearish trend indicated by current technical indicators, the long-term forecast for Pi Network suggests a bullish trend. The price is expected to fluctuate between a low of $0.880231 in January 2029 and a high of $2.73 in November 2029, with a potential average price of $1.330069 in 2029. Investors might anticipate a potential return on investment of 257.40%, aligning with a bullish outlook for the year. However, it is important to note that these forecasts are based on analyst predictions and should be taken with caution.

In summary, while Pi Network faces several challenges and current technical indicators suggest a bearish trend, the long-term outlook remains optimistic. The unique mobile-first mining model and massive user base continue to command attention, and the potential for significant returns on investment makes Pi Network a cryptocurrency to watch in the coming years. However, investors should remain cautious and consider the various challenges and uncertainties facing the coin before making any investment decisions.