After seven years of development, Pi Network’s Tap-to-Earn mainnet is finally set to launch today at 8 AM UTC. However, concerns are rising as Pi Coin has already plunged 55%, now trading around $30. This sudden drop has sparked fears that the launch could lead to even more losses.
One of the biggest risks for Pi Coin comes from early miners. These users have collected large amounts of Pi at little to no cost and may see the mainnet launch as their first real chance to cash out.
Many of them might sell a portion of their tokens to secure profits, especially if they expect prices to drop after the initial hype.
If a large number of early miners sell at the same time, it could flood the market with supply, pushing prices down further as demand struggles to keep up.
Following the official announcement of the mainnet launch, the price of the Pi token jumped by almost 90%, climbing from $49 to $92. But this rise didn’t last long, as prices have fallen sharply since then.
Warning Signs to Watch
Technical indicators suggest Pi’s price could fall further. The token recently dropped below a key support level at $40, which had previously helped stabilize prices.
Additionally, the Relative Strength Index (RSI)—a key measure of whether an asset is overbought or oversold—recently hit the overbought zone for Pi. Cryptos that reach this level often see a sharp price reversal, and Pi’s RSI has already fallen in the past 24 hours. This signals more potential downside ahead.
Cryptocurrencies launched through airdrops often see major price drops. When tokens are given out for free or at low cost, many holders sell as soon as trading begins, leading to a flood of supply and a falling price.
Pi Network could follow this pattern, with too many tokens hitting the market and dragging prices lower.
As of now PI, I owe you (IOU), price has seen a sharp decline, now trading at $32 after dropping 57% in just 24 hours. This crash happened after the token failed to stay above the $50 support level.
With the upcoming mainnet launch, uncertainty is growing, and Pi’s price could face more downward pressure. While it is still holding above $30, breaking below this level might trigger a further drop to $17.
If that happens, investors who have been holding Pi in recent weeks could face even bigger losses.
Pi’s price swings have kept investors on edge, but the real test begins now as the mainnet goes live.
As of now, Binance has not confirmed a Pi Coin listing. Pi Network must fully launch and prove legitimacy before major exchanges consider it.
As of February 2025, 12 exchanges have listed Pi Coin, including OKX, Bitrue, Bitget, KuCoin, Gate.io, Bybit, and MEXC, among others
Pi Coin is falling due to profit-taking by early miners and fears of oversupply once the mainnet goes live.
If many early miners sell, Pi could face more downward pressure, potentially dropping below $30 or even toward $17.
The crypto market pulses with activity as XRP tests key resistance levels, PEPE hints at…
As investors scan the market for their next big move, one token is beginning to…
Shiba Inu (SHIB), the wildly popular meme coin, has once again made a splash in…
Over the past week, Pepe Coin (PEPE) has seen a sharp rise of around 42%,…
Over the past week, a handful of altcoins broke away from the market consolidation, delivering…
After a long, painful stretch for altcoins, the market is finally showing signs of recovery.…
