The Pi (π) Coin price has plummeted 80%, wiping out $940 million in market capitalization

The Pi coin price has experienced a sharp decline, tumbling nearly 80% from its February peak. This steep drop wiped out approximately $9.4 billion in market capitalization, shrinking its valuation from $13.8 billion to just $4.4 billion.

The price of Pi coin has fallen sharply in recent times. The token is now trading at $0.6318, down nearly 80% from its February peak of $3.6. This steep drop has wiped out approximately $9 billion in market capitalization, shrinking its valuation from $13.8 billion to just $4.4 billion.

However, at least four critical developments must take place for Pi to stage a meaningful comeback and revisit its previous highs.

The broader crypto market must shift out of its current bearish trend. Historically, altcoins tend to rally when Bitcoin leads a market surge. For example, many altcoins reached their peaks last November as Bitcoin climbed. A strong upward move in Bitcoin would typically boost sentiment and channel capital into coins like Pi.

Next, Pi Network must restructure its tokenomics to address growing concerns. Over the next year, the network plans to release 1.5 billion tokens, averaging 130 million tokens per month (worth around $83 million at today’s prices).

Although the Pi team addressed the issue, their response revealed that insiders control a significant portion of Pi tokens. This centralization raises concerns, especially after past incidents like the Mantra DAO collapse. The team holds 20 billion tokens, the Pi Foundation controls 10 billion, and an additional 5 billion remain in various allocations. In total, insiders manage 35 billion tokens, while pioneers hold 65 billion.

Listings on tier-1 exchanges could act as a major price catalyst. Currently, Pi coin trades on platforms like Gate.io, Bitget, OKX, and MEXC. A listing on major exchanges such as Binance, Coinbase, Kraken, or Upbit could spark a short squeeze and drive the price upward.

Previous examples support this view. Tokens like Kaito, StakeStone, and WalletConnect recorded major gains post-listing. Orca, for instance, surged over 200% after its Upbit debut.

Finally, Pi Network must expand its ecosystem to create real-world utility. Launching decentralized apps, enabling real payments, and building partnerships would shift Pi from speculative hype to sustained adoption.

Technical analysis on the four-hour chart shows that Pi coin trades within a tight range, signaling ongoing consolidation. The price hovers around the 50-period moving average, suggesting limited momentum. Additionally, the Average True Range (ATR) (a key volatility indicator) has dropped, indicating muted market activity and a buildup for a possible breakout.

Technically, Pi coin appears to be forming a double-bottom reversal pattern. The pattern’s neckline sits at $0.7857, marking the month’s highest price.

If the price breaks above this neckline, it could rally toward the $1 resistance level—a 58% increase from current levels. However, if it dips below the double-bottom support, it could invalidate the bullish pattern and trigger further downside.