Pi Price Plunge: Governance Allegations and Sentiment Pressure Mount

Pi Network faces price consolidation amidst governance scandals and community division. Will it recover, or will sentiment pressure lead to further decline?

Pi Network's journey, once promising a community-driven blockchain revolution, now navigates a turbulent landscape. Price consolidation, governance controversies, and wavering sentiment are key factors shaping its trajectory.

Pi Price Holds Fragile Support

Pi Coin is currently trading near $0.267, experiencing consolidation after a sharp September drop. Sellers are in control below the descending trendline, while buyers attempt to hold a fragile support band around $0.245–$0.250. The price action is compressed, highlighting a fragile base that buyers must defend. The immediate path depends on whether technical defenses align with a resolution to its governance issues. As long as Pi trades below the $0.30 mark, the bias remains bearish.

Governance Scandal Adds To Selling Pressure

Beyond technical weakness, Pi Network is embroiled in controversy. Allegations from a former executive, McPhilip, cite toxic leadership, mismanagement, and internal conflicts among co-founders. These claims raise deep governance concerns, fueling doubts about transparency and long-term credibility, with users voicing frustration over a lack of communication. This governance overhang adds a fundamental headwind to Pi Coin price action.

GCV Divides the Pi Community

The Global Consensus Value (GCV) movement continues pushing ahead, advocating for a Pi token value of $314,159. Critics argue that GCV's lofty claims mislead users and undermine the project's credibility. These deepened divisions create obstacles for legitimate market development.

Remittix Emerges As A Stronger Alternative

While Pi struggles, rival project Remittix is capturing investor attention. Unlike Pi, which faces ongoing speculation over listings and utility, Remittix is already providing real-world FX conversion and instant transfers. This contrast has driven some Pi holders to rotate capital into Remittix, seeking stronger fundamentals and growth potential.

Technical Outlook

Pi Coin's short-term price prediction hinges on whether buyers can protect the $0.245 support floor. Analysts note that a decisive close above $0.301 would be the first sign of recovery, potentially targeting $0.326. Failure to hold $0.245, however, risks another leg lower toward $0.230. For now, Pi Coin remains under pressure.

So, what's the takeaway? Pi's got some serious headwinds. Governance issues and shaky sentiment are weighing it down. Whether it can bounce back depends on addressing these issues and regaining community trust. Stay tuned, because this saga is far from over!