Pi Network (PI) Token Price Crashes Over 80% After Open Mainnet Launch

NOIDA (CoinChapter.com) — Pi Network launched its open mainnet in Feb. 2025, and since then, the project's journey has unraveled into a spectacular farce.

Pi Network's open mainnet launch in February 2025 was supposed to usher in a new era of cryptocurrency adoption, powered by the collective efforts of millions of 'Pioneers.' However, seven months later, the project's journey has unraveled into a spectacular farce.

Since its launch earlier this year, Pi Coin has crashed more than 80%, plummeting from $3.00 to a humiliating $0.41 by May 8. The initial hype has fully evaporated.

The token may fall further in the coming months, eventually resulting in PI coin's price drifting into irrelevance. The project's core issues are no longer theoretical—they're on full display, and the market isn't buying the illusion anymore.

The KYC and mainnet migration process has become a logistical nightmare. A hard March deadline saw many users lose their tokens after failing to complete identity checks, often through no fault of their own.

Those who did pass the checklist now face an indefinite waiting period, with no transparency or timelines offered. Migration has become a graveyard of broken promises. Users report account flags, missing approvals, and unexplained delays.

Behind the smokescreen, the project remains as centralized as ever. The core team holds 82.8% of the 100 billion supply and runs the show with a skeletal network, just 43 nodes and 3 validators.

For comparison, Bitcoin, which PI coin strives and dreams to become, has over 21,000 nodes. Pi's decentralization pitch isn't just hollow—it's insulting.

As user frustration boils over, accountability is the only thing the project seems to be decentralizing.

Pi Price Breakdown Looms As Descending Triangle Engulfs Market Structure

Pi Coin is trading inside a bearish setup called the descending triangle. A flat support base and lower highs pressing downward characterize the bearish setup. The structure typically signals weakening demand and a buildup toward a breakdown.

The pattern's descending resistance trendline has capped each rally since March, with lower rejection points forming a staircase of failed comebacks. The support near $0.47 has acted as the only floor, but it's thinning fast.

The price is currently hovering just above the 0.5 Fib level near $0.63. However, if the triangle breaks down decisively—and the volume shows declining interest—it opens the door to the 0.786 Fib level at $0.285, which also aligns with the pattern's projected price target.

The double confluence marks the final support zone. A clean break below $0.47 would almost certainly send Pi spiraling toward that $0.28 level, marking a 55% loss from current levels.

On the upside, Pi faces immediate resistance near $0.74. Flipping the immediate resistance would target the resistance near $0.91. However, the structure remains tilted against bulls. Momentum has faded, and volume profiles offer little hope of a breakout.

Unless bulls reclaim lost territory fast, the descending triangle's target zone remains Pi Network token's next probable destination—a near 55% collapse from current levels.

Binance Hype Returns As Pi Network's Circus Rolls Into Toronto

The Pi faithful are back on hopium, clinging to a vague “ecosystem announcement” scheduled for May 14 during the Consensus 2025 conference in Toronto. Founder Nicolas Kokkalis is expected to take the stage, and that alone has triggered another round of feverish speculation about a long-awaited Binance listing.

The rumor isn't new—it's been circulating since February, when a community vote overwhelmingly favored the idea. That vote briefly sent Pi's price up 80%, but the rally evaporated once reality caught up. Now, with the token price up just 6.3% from April 2025's lows, believers are pointing to tokenomics updates, new wallet features for KYC'd users, and fiat onramps through Banxa as signs Pi is “ready” for the big leagues.

They're ignoring the obvious: none of these features address the central problem—PI coin remains a centralized mess with no live market listing. The upcoming announcement hype should have stirred PI coin bulls into action, but it still has a far distance to go before the Pi Network token can come remotely close to its promises and the dreams of its hopium-snorting fans.

However, the Binance hype collapsed under the weight of another fake narrative earlier this month. Pi influencers claimed a partnership with BNP Paribas, touting integration with a so-called Nexus Banking System.

The claim was false—there was no official mention, no confirmation, just a self-reinforcing echo chamber. The price didn't move, and the fallout was immediate. Critics slammed the stunt as another manipulation tactic