Pi Network Crashes 15% Despite PiFest Hype — What’s Really Going On with Pi Coin?
Jakarta, Pintu News – The Pi Network (PI) price is back in the spotlight after experiencing a sharp 15% drop today, April 4, 2025, and is trading at $0.5666.
This drop came shortly after the announcement of the PiFest event, which was originally expected to drive market interest and boost the price of Pi Coin. Unfortunately, the enthusiasm for the announcement doesn’t seem to have been strong enough to withstand the selling pressure that has occurred in recent days.
With the downward trend continuing, many investors are now questioning the direction in which PI will move in the near future.
Pi Network Price Drops 15.1% in 24 Hours
At the time of writing (4/4/25), the price of Pi Network (PI) has recorded a sharp decline of 15.1% in the last 24 hours, with the price of PI coin around $0.5666. If converted to rupiah at the current value, which is $1 = IDR 16,747, the price of Pi Network to rupiah is around IDR 9,378.
Read also: Pi Network Receives Sharp Criticism, Pi Coin Price to Remain at $0.60 Throughout April?
In a 24-hour span, the price of PI moved between $0.5395 to $0.6702, signaling quite high volatility.
In terms of market capitalization, Pi Network recorded a value of $3.81 billion, with a fully diluted valuation (FDV) of $5.86 billion. Trading volume in the last 24 hours reached $443.7 million, indicating that there is still high interest from the market despite the declining price trend.
PiFest Fails to Boost Pi Coin Value
The Pi Network team has just announced the results of PiFest, a community-based event aimed at encouraging the use of Pi Coin in local commerce activities.
According to the announcement, more than 125,000 registered sellers and 58,000 active sellers took part in the event. In addition, around 1.8 million Pi users (Pioneers) utilized the Map of Pi app for transactions.
PiFest opened up opportunities for a wide range of purchases, from everyday necessities such as food and clothing, to professional services such as graphic design and vehicle repairs. This is proof that the real-world use of Pi Coin is starting to show potential.
“PiFest isn’t just a celebration-it’s living proof that Pi has real-world uses. With the Open Network now fully live, PiFest shows how Pi can drive indigenous commerce and strengthen local economies globally,” the Pi Network team wrote in their official blog.
However, despite its success in terms of community participation, Pi Coin’s market value remains weak. Based on data from CoinGecko, Pi is currently in 31st place in the crypto ranking list. Its price is now 78.7% below its highest ever price, and only 3.1% above its all-time low.
Pi Network Community Split
A Reddit user expressed his disappointment:
“Shortly after Pi launched, the value of my holdings had reached around €7,000. I decided to hold it, hoping for big news like a listing on Binance or some other major announcement-but that never happened. Now my Pi is only worth about €1,700, and I’m really disappointed.”
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This post sparked a heated discussion. Some users suggested switching to more established assets like Ethereum , while others remained optimistic about Pi Coin’s future.
“Be patient. Trust the process. Have faith in Pi’s core team, the developers, the ecosystem and the community. Don’t spread FUD. Hold on to your Pi. Don’t sell it cheap. You will be richly rewarded one day,” wrote one Pioneer.
Amidst the downturn in performance and market uncertainty, the Pi community is divided between those who are starting to lose faith and those who are still holding on due to long-term conviction.
One of the comments on platform X (Twitter) mentions:
“The comments from official accounts are increasingly negative. It seems like there are finally people who realize that this project doesn’t live up to the promises that were sold.”
Meanwhile, more and more users are starting to consider exchanging their Pi for other assets as the value continues to plummet. In fact, one Pioneer openly stated that he was considering exchanging his Pi for 1 Ethereum (ETH).
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- BeInCrypto. PiFest Highlights Pi Coin’s Real-World Use, Yet Price Struggles Continue. Accessed on April 4, 2025
