Pi Coin Falls 80% Year-to-Date Amid Mainnet Delays and Waning Investor Confidence

Pi Coin, once celebrated for its mobile-mining accessibility, is now facing a severe decline in market performance and investor trust. Year-to-date, the digital asset has plummeted by 80%, while trading volumes have dropped nearly 70%, making it the worst-performing cryptocurrency among the top 40 by market capitalization. The token’s current price stands at $0.3519, with a 3.72% rise in the past 24 hours, yet this minor rebound is overshadowed by a 16.15% weekly and 22.81% monthly decline [1].

The collapse in market confidence is largely attributed to repeated delays in the migration to the mainnet, which has left investors waiting for tangible progress. Additionally, the absence of listings on major centralized exchanges continues to limit Pi Coin’s accessibility to a broader audience, further dampening its appeal. While tokens such as Mantle (MNT) and Ondo (ONDO) have seen gains of 53% and 16% respectively in the past 30 days, Pi has fallen by 26%, underperforming even smaller-cap projects in the same category [1].

Bearish sentiment is also reinforced by recent price action. Pi briefly dipped to $0.3220 during a 4-hour window, breaking below a key support level. Despite a small bounce, the token's Relative Strength Index (RSI) remains near 30, signaling continued downward momentum with no immediate reversal in sight. CoinMarketCap data shows daily trading volumes have fallen from a peak of $140 million in early August to $43 million, a significant drop that reflects waning interest and reduced liquidity [1].

Community concerns are intensifying, with many users expressing fears of a further price collapse. Analysts warn that without a major catalyst—such as a listing on a top-tier exchange or a breakthrough in mainnet development—Pi Coin could fall as low as $0.10. The lack of regulatory clarity and a well-defined legal framework around staking and trading mechanisms adds another layer of uncertainty, with critics drawing comparisons to failed crypto projects that collapsed under similar conditions [1].

Despite these challenges, Pi remains one of the most widely followed digital currency initiatives, largely due to its grassroots growth through mobile-mining efforts. However, the transition from a test network to a live market is proving to be more difficult than anticipated, and the next few months will be critical in determining whether the project can regain its footing or will continue to erode under the weight of unmet expectations [1].

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[1] https://coinmarketcap.com/community/articles/689468acc4aa384a36ed210e/