Pi Network Bearish Sentiment: Is Pi Headed to $0.30?

On March 21, Pi Network saw a crash, and Pi price fell under $1. This coin reached as low as $0.87 yesterday; however, since then, it has recovered and is currently trading at $0.9913. The native token of the Pi network has lost nearly 41% of its value in the past week. As such, the bearish sentiment is increasing as some investors now fear a break under the $0.60 support level. If this becomes a reality, we can expect even more downturns and further Pi price decrease.

Pi Network’s Popularity Plunges After Binance Listing Fail

Most of the popularity of the Pi token came from its mobile app and its community. However, after miscommunication from the Pi network and unfortunate developments the community’s excitement has soured. Based on the community’s bearish sentiment, this downtrend comes after Binance refused Pi token listing. Although this listing was approved by Binance’s community vote, however, Binance clarified that the vote only includes on-chain currencies. Additionally, the confusion caused by the lack of a cohesive roadmap for the project has also contributed to the crash. 

Will Pi Survive? Harsh Critiques and Bearish Charts 

Adding to the mounting problems, some influential figures have voiced doubts and criticisms about this project. One example is the founder of CyberCapital, Justin Bons, who argued that Pi’s mining process and tokenomics show serious problems. He also stressed how this project is now fully centralised, and even the most common functions are locked behind KYC. He ended his critique by calling the Pi project an investment scam. However, a Pi-affiliated crypto expert came to the defence of the Pi Network. Dr. Altcoin claimed that after years of collaboration, he does not see any proof of Pi being a scam.

Chart 1 – provided by Behdark, published on Tradingview, March 22, 2025

According to Chart 1, as long as the token is trading under $1, it will continue testing support levels. If the Pi coin manages to stay above the $0.82 support, it has a chance to rebound above $1. However, a fall below this could lead to the token’s consolidation under the $0.7 point in the green zone. Additionally, the Pi price decrease can continue till the token reaches the bottom of the green zone, $0.60. If the sentiment keeps its bearish status quo, the value could fall even lower than $0.30.

Pi Needs to Break $1.02 — Will the Bulls Take Over Soon?

On the other hand, the stochastic RSI technical indicator shows that Pi is currently oversold. This condition signals a possibility of reversal from a bearish price trend to a bullish one. As per historical data, consolidation in the oversold condition can lead to a rebound in the short-term price movement. However, to continue this bullish movement, the Pi price momentum needs to break the $1.02 resistance. Additionally, breaking the $1.19 to $1.24 resistance level is also necessary if Pi is to reach its post-crash value.

Will the Token Unlock Event Trigger Another Price Crash?

An upcoming development for the Pi Network is the token unlocking event, which will likely increase selling pressure. However, the Pi network has implemented some measures to keep the Pi coin supply low. One such measure is the burning of unclaimed Pi tokens. These could come from accounts that have not gone through the KYC process. Estimates suggest that more than 528,671 Pi coins have already been burned till now. This deflationary burning mechanism can help in stopping any further Pi price decrease. Additionally, a Pi token listing on another big exchange can also flip the sentiment to bullish.