Pi Network’s Price Plunges Amid Scam Accusations – Can It Recover?

The cryptocurrency Pi Network has gained recent attention after its price sunk below the vital price level of $1, alarming investors. The rapid drop has cast doubt on the future of Pi Coin with some calling it a Pi scam and others still hoping for the price to become bullish again, and while it did manage to bounce back some 7% recently, market sentiment remains weak in any direction of the future price direction of Pi.

Pi Network Faces Sharp Decline Amid Market Concerns

Pi Network has experienced extreme price activity of late. After reaching an all-time high in the past few weeks, the coin has dropped in value by over 67%, plummeting from $3.00 to $0.87 in that period. This has led to the skeptics becoming more vocal in their critiques of Pi Network’s legitimacy. Investors are beginning to wonder if the drop is an indication of deeper problems within the Pi Network ecosystem. At the same time, some Pi supporters remain positive regarding the price of Pi that they predicted and believe the forthcoming Binance listing will spark a recovery. The community is still hopeful that the price of Pi Coin will recover with larger exchange adoption and/or listing supporting that recovery. By and large, however, speculation and negativity continue to weigh heavily on Pi price movement.

Is a Reversal Possible, or Will Pi Coin Sink Further?

After a rapid and drastic decline after the Pi Scam allegations, Pi Coin appears to be stabilizing, trading around the $0.919 level. However, the future remains uncertain. Investors are still apprehensive, and technical indicators will be crucial in determining the next steps for Pi Coin. In the following section, we will provide a chart analysis that looks at support and resistance zones, MACD, and RSI signals that could impact Pi Coin going forward. 

Price Analysis and Pi Price Prediction

The trading session on 21st March started with bearish sentiment dominating the market post Pi scam allegation. The investors very extremely cautious with any price swings. At 1:40 UTC, a death cross formed pulling the prices even to new lower. By 02:45 UTC a golden cross appeared on the MACD line leading to slight price recovery. However, the sell side quickly restricts any upswing leading to prices entering a trading range. The tug of war between the buy and sell side continues to gain hold as no clear indications were given by MACD and RSI. At 12:15 UTC, a golden cross was constructed on the MACD line aligning with the oversold signal from RSI giving a much-needed push to buy momentum. Two spikes in an upward direction were witnessed as seen in the chart following bullish signals from indicators. 

Chart 1, Analyzed by Alokravantmedia published on March 22, 2025.

The breakout on the key resistance level of $1.088  happened at 15:05 UTC, but the prices could not hold for long. By 16:05 UTC, a death cross formed pulling the prices below the resistance level again. By the start of new trading on 22nd March, the prices entered a new trading range between key resistance and support level after multiple failed breakout attempts.

Pi Coin’s Future Hangs in the Balance

Pi Coin’s recent price action has been a total rollercoaster, with extreme volatility driven by scam allegations and uncertain investor sentiment. Technical indicators and charts such as the MACD and RSI have provided conflicting signals, and the Pi Coin’s price action has seen a series of failed breakouts. While there were some minor spikes above levels of resistance a broader bearish momentum continued to overwhelm the trading action of Pi Coin preventing a sustained upward movement in price. The price for Pi Coin has since formed a price range of sorts between support and resistance and therefore its next price action is uncertain. The Pi price prediction indicates that traders should monitor confirmation from signals like MACD and RSI to ascertain the subsequent course of action.