TLDR
- Pi Network’s price has fallen 80% from its February peak of $2.99 to around $0.59
- Trading volume has plummeted by 49% in 24 hours to $34.95 million
- Rumors about a BNP Paribas partnership have been debunked as false
- Technical analysis shows a symmetrical triangle pattern breaking downward
- Analysts project a possible further decline to $0.29 if bearish momentum continues
Pi Network (PI), the mobile-first cryptocurrency that launched its open mainnet in February 2025, has experienced a steep decline over recent months. The token now trades at a critical juncture that could determine its future trajectory in the coming weeks.
The Pi cryptocurrency has fallen approximately 80% from its February peak of $2.99. Currently hovering around $0.59, the coin has struggled to gain upward momentum amid declining investor interest.
One concerning factor is the dramatic drop in trading volume. According to CoinMarketCap data, Pi Network’s trading volume plunged 49% in just 24 hours, falling to $34.95 million. This ranks as one of the lowest volumes among the top 30 cryptocurrencies.
The price action shows PI trading in a tight range between $0.58 and $0.60, failing to break through key resistance levels. This consolidation pattern has formed what technical analysts describe as a symmetrical triangle on the 4-hour chart.
Pi Network
PI Price
Market Sentiment Turns Bearish
Technical indicators paint a concerning picture for PI holders. The Relative Strength Index (RSI) sits near neutral at 42, while the 30-period moving average continues to lag below the 200-period moving average.
The 50-period EMA at $0.6003 and the 200-period EMA at $0.7004 are both trending downward, providing little support for the price.
Market analysts warn that a confirmed break below the lower boundary of the current symmetrical triangle pattern could trigger a sell-off. The measured target of this pattern suggests a potential drop to $0.2965—a 53% decline from current levels.
“The current lack of exchange listings and declining activity raises red flags,” noted one market analyst. “Without a catalyst, the Pi Coin value may continue to erode as traders shift their focus elsewhere.”
BNP Paribas Partnership Rumors Debunked
Recent excitement in the Pi Network community stemmed from rumors about a partnership with French banking giant BNP Paribas. Posts circulating on social media suggested integration with the bank’s digital payment systems via the “Pi Nexus Banking System” APIs.
However, investigation revealed these claims to be unfounded. BNP Paribas has not confirmed any collaboration, and the APIs mentioned were built for multiple potential partners—not evidence of a formal deal.
A now-retracted article from Cointribune had cited a GitHub repository as evidence of the partnership. Researchers later discovered this repository was an unverified, independent file with no official connection to either organization.
The spread of this misinformation highlighted Pi Network’s vulnerability to unchecked hype, as official channels did not intervene to correct the false claims.
Exchange Listing Challenges
Pi Network’s absence from major exchanges like Binance and Coinbase continues to limit its market reach and liquidity.
In February 2025, Binance conducted a community vote regarding Pi Coin’s potential listing, with 86% of participants voting in favor. Despite this overwhelming support, Binance has not confirmed a listing.
The exchange’s strict criteria—emphasizing transparency, liquidity, and decentralization—pose challenges for Pi Network. The project’s centralized control structure, with the Pi Core Team managing all mainnet nodes, has raised concerns about its compatibility with Binance’s listing requirements.
Additionally, Binance’s new listing rules prioritize projects built on supported blockchains like BNB Chain, which Pi does not use.
Price Forecasts Vary Widely
Despite the current bearish trend, some analysts maintain optimistic price targets. A report from CoinCentral suggested Pi Coin might reach $5 by the end of May, contingent on securing major exchange listings and positive developments from upcoming crypto conferences.
CoinCodex projects a more conservative $2.02 price target under favorable market conditions.
However, these bullish forecasts depend heavily on Pi Network overcoming its current challenges with liquidity, utility, and institutional credibility.
For now, Pi Network Coin remains a speculative asset with high volatility potential. The project’s unique mobile mining model has helped it build a large user base, but questions about real-world utility and exchange access continue to weigh on its market performance.
As of May 6, 2025, Pi Network was trading at $0.59, up 0.63% in the last 24 hours, but down 4% over the week.
