Pi Network Plunges 12% Overnight — What’s Behind the Sudden Crash?

Jakarta, Pintu News – The Pi Network (PI) price is back in the spotlight after registering a sharp decline of 12.2% in the last 24 hours, as of March 26, 2025.

The token, which stole the show with a price spike in late February, is now trading at $0.8181, well below its peak price a few weeks ago.

This drastic drop sparked concern among investors and the crypto community, raising big questions: What’s really going on with Pi Network?

Pi Network Price Plunges 12.2% in 24 Hours

At the time of writing (3/26/25), the price of Pi Network (PI) has recorded a sharp decline of 12.2% in the last 24 hours, with the price of PI coin around $0.8181. If converted to rupiah at the current rate, which is $1 = IDR 16,589, the price of Pi Network to rupiah is around IDR 13,422.

Read also: 4 Crypto that could potentially rise in April 2025 based on recent data!

On the daily timeframe, the price of PI touched a low of $0.813 and a high of $0.9323, showing considerable volatility.

In addition, Pi Network’s market capitalization now stands at $5.53 billion, with a fully diluted valuation of $8.51 billion. The last 24 hours of trading volume was also relatively active, with a value of $252 million.

What happened to the price of Pi Network?

Pi Network’s Supply of Genuine Crypto on Exchanges Increases

Reporting from Coingape (25/3), over the past seven days, the price of Pi Network’s native crypto, Pi Coin, has corrected by 22% after failing to break the $0.120 price level despite several attempts.

As a result, Pi Coin’s ranking dropped from 11th to 23rd place, as well as losing more than $13 billion in market capitalization over the past month.

Furthermore, the price of Pi Coin continues to fail to return to the $1 mark, mainly due to a large spike in the number of PI deposits to exchanges in recent days. This selling pressure was caused by the transfer of nearly 8 million PI tokens to a centralized crypto exchange (CEX).

Market analysts think that the PiCore Team (PCT) needs to take immediate action to stabilize the value of the token. One proposed solution is to burn around 60 to 100 million coins from the circulating supply, to prevent further price drops.

On the other hand, the total Pi Coin now held on centralized crypto exchanges has soared to over 338 million coins. This further raises concerns of a potential massive sell-off and increased price volatility on the Pi network.

Read also: Analysts Find Bullish Pattern, Pi Network Price Could Surge?

Where is Pi Coin headed next?

A recent chart from Coinvo on TradingView shows a fairly complex trading pattern for the PI/USDT pair on the Bitget platform, which indicates a “Triple ZigZag” formation – a signal that could signal a potential reversal in the market trend.

The 8-hour chart features Elliot wave analysis. When combined with the “Triple ZigZag” pattern, the chart shows a series of corrective waves (labeled A, B, C), where the most recent wave suggests a potential upside move in the near future.

Coinvo notes that while Pi Coin’s price is around $0.9512, there is a possibility of price appreciation in the next few weeks.

Meanwhile, another market analyst named TraderFy gave a pretty bold prediction for Pi Coin, stating that the $PI token is set to experience a huge surge.

“$PI is about to explode! A big breakout from the falling wedge pattern is inevitable,” he wrote. He also shared short-term price targets of $2.00529 and $2.38466.

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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:

• Coingape. Pi Network News: Why Is Pi Coin Price Down 5% Today? Accessed on March 26, 2025