Is Pi Coin a Flop Crypto? Price Crashes 85% With No Major Exchange Support

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Once seen as the next big thing in mobile crypto mining, Pi Network is now in serious trouble. With over 60 million users, it had all the signs of a breakout success—but things have taken a sharp turn. In just one week, Pi Coin has dropped more than 20%, falling out of the top 30 cryptocurrencies and now trading around $0.44, a staggering 85% crash from its February high of $3.

What went wrong? From delayed launches and user frustration to missing exchange listings and scam accusations, the problems are stacking up fast.

And if the current trend continues, the worst may be yet to come. Here’s a closer look at the fall of Pi – and why some fear it could crash all the way to $0.10.

Why is Pi Coin Price Dropping?

One of the main reasons for Pi Coin’s sharp decline is the ongoing delay in launching its mainnet. This launch was supposed to move the project from testing into full operation. On top of that, many users are still stuck in the Know Your Customer (KYC) process, which is needed to verify identities. Because of these delays, many early users still can’t access or trade their coins, leading to growing frustration across the community.

Users Are Rushing to Sell

The uncertainty has triggered a major sell-off, with daily trading volume now reaching $500 million. This shows just how many users are rushing to offload their tokens. Making things worse, major crypto exchanges like Binance and Coinbase continue to avoid listing Pi Coin. Without listings on these top platforms, the coin lacks the exposure and trust it needs to grow.

Instead, it remains limited to smaller exchanges like OKX and Gate.io. Many in the community were hoping for a Binance listing to boost the project’s credibility, but that hasn’t happened yet.

Community Losing Patience

The problems extend beyond just the coin itself. PiDaoSwap, one of the key projects built within the Pi ecosystem, is struggling to get business approvals. As a result, it had to move its NFT launch to the Binance Chain, which has raised doubts about the true usefulness of the Pi blockchain. Other projects in the ecosystem, like Zito Realty and PiFest, have also failed to gain momentum, making the entire network look weak and underdeveloped.

Adding to the negativity, Bybit CEO Ben Zhou recently called Pi Network a scam. He referred to a Chinese news report that claimed the project was designed to trick elderly users.

1. Here is a official police warning of $Pi from Chinese police back in 2023 warning to the public that it’s a scam targeted towards elderly folks https://t.co/LaGJqXSOXR which leaks their personal data and loss of their pension. There are multiple other reports out there… https://t.co/gkEu2wZwfo

— Ben Zhou (@benbybit) February 20, 2025

This accusation has damaged the network’s reputation even further at a time when trust is already low.

Could Pi Coin Fall to $0.10?

Experts say there are four key reasons why Pi Coin may drop even further:

• Too many unverified users who may dump their tokens
• No listings on major exchanges
• A weak overall crypto market
• A lack of real-world use cases

So far, over 6.7 billion Pi tokens are already in circulation, and the total possible supply is 100 billion. That’s causing fears about dilution, which could drive prices even lower.

Pi Network's PI is currently sitting at $0.53 as of April 4, 2025, and it’s been on a noticeable downward trend over the past 90 days. From early January, when prices hovered around $1.20-$1.50 based on posts from X and market trackers, PI has shed over 50% of its value. Token… pic.twitter.com/33Zsul8MxM

— DigitalAssetBuzz