The crypto market is facing yet another rough patch, and altcoins are feeling the heat. Bitcoin (BTC) is showing signs of short-term weakness, dragging the broader market down with it. The ongoing U.S.-led tariff wars have only made things worse, as stock market instability spills over into crypto.
In the past 24 hours alone, over $950 million in crypto positions have been wiped out—mostly from long traders—raising fears of an even deeper market correction.
Amid this turmoil, Pi Coin has taken a sharp hit. Let’s take a closer look at what’s happening.
Since the launch of its Open Mainnet, Pi Coin has been exposed to broader market trends. The large-cap altcoin, with a fully diluted valuation of about $15.4 billion and a 24-hour average trading volume of around $535 million, has dropped more than 24% in the past week. As of Tuesday, March 11, during the mid-London session, it was trading at approximately $1.38.
Pi Coin has confirmed a bearish reversal after breaking below the neckline of a head and shoulders (H&S) pattern over the past two days. On the four-hour chart, the coin is forming a bearish continuation pattern, while the Relative Strength Index (RSI) signals a bearish divergence.
In the short term, Pi Coin could fall another 15-20%, with support around $1.16. However, if it consistently closes above $1.77 in the coming weeks, the bearish outlook would be invalidated.
The Pi Network has grown to a vast network of over 60 million users in the past years, largely due to its mobile mining infrastructure compared to the energy-intensive mining process of Bitcoin, Dogecoin (DOGE), and Litecoin (LTC).
With the rising adoption of decentralized financial (DeFi) protocols, the Pi Network is keen to build utility-driven web3 projects to actively engage the community. As a result, the decisions made by the core team in 2025 will significantly influence the fate of the Pi Network in the coming years.
The coming months will reveal whether Pi Network’s grand vision can outshine its current market struggles.
Pi Network aims to expand in Web3 and DeFi, with core team decisions in 2025 shaping its long-term adoption.
If the bullish sentiment sustains, this altcoin could reach as high as $80 this year.
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