Pi Network Price Crash Slows, Setting the Stage for an April Surge

The Pi Network price has been on a persistent downtrend throughout 2024 as investor sentiment remains subdued. Despite an initially strong rally following its mainnet launch in February, Pi Coin (PI) has suffered a dramatic decline, shedding billions in market capitalization. However, recent technical indicators suggest that the worst may be over, and a potential reversal could be on the horizon.

Pi Network's Price Performance and Recent Sell-Off

Pi Coin experienced an early surge, climbing close to $3 shortly after its mainnet launch in February. However, this upward momentum was short-lived, and the cryptocurrency has since embarked on a steep sell-off, currently trading around $0.7925. This price collapse has left many investors questioning the coin’s future trajectory.

Why Did Pi Network Crash?

Three primary factors have contributed to Pi Network’s significant price decline:

1. Lack of Major Exchange Listings

One of the most pressing issues affecting Pi Coin's price is its absence from major cryptocurrency exchanges. While Pi’s mainnet launch was widely anticipated and initially successful, most mainstream exchanges have yet to list the token.

Binance’s Reluctance to List Pi

Surprisingly, Binance, the world’s largest crypto exchange, has yet to list Pi Network despite strong demand from its user base. A Binance poll conducted in February revealed that over 85% of respondents supported the listing of Pi Coin, yet the exchange has remained silent on the matter.

Other Major Exchanges Remain Hesitant

Pi Network has also faced exclusion from other top-tier exchanges such as:

• Coinbase

• Kraken

• Bybit

• Upbit

The reluctance of these platforms to list Pi Coin has severely restricted its liquidity and market access. Adding to the skepticism, Bybit’s CEO has openly criticized Pi Network, labeling it a scam project—an allegation that Pi’s development team has strongly refuted.

Potential for Exchange Listings in 2024

Despite the current setbacks, there is optimism that major exchanges may reconsider listing Pi later this year. With a current market capitalization exceeding $8 billion, Pi Network has cemented itself as one of the largest cryptocurrencies in the industry.

If Binance, Coinbase, or other major platforms decide to list Pi Coin, it could lead to a significant price surge, similar to what was observed with other tokens. For example, Orca (ORCA) skyrocketed by over 200% after being listed on Upbit, South Korea’s largest exchange. A similar event for Pi Coin could drive a sharp increase in value.

2. Future Token Dilution Due to Unlocking Events

Another major reason for Pi Coin’s price decline is the expectation of future dilution as more tokens get unlocked.

Massive Unlock Events Expected

On-chain data reveals that millions of dollars worth of Pi tokens are set to be unlocked every month. Over the next 12 months, approximately 1.6 billion Pi tokens will enter circulation, potentially leading to significant dilution of existing holdings.

How Token Unlocks Affect Price

Token unlocks typically impact the price in two major ways:

• Increased Supply – A higher number of circulating tokens reduces scarcity, leading to a natural downward pressure on price.

• Investor Sell-Offs – Large token unlocks can trigger selling by early investors or project insiders, further exacerbating price declines.

While some projects mitigate dilution through staking mechanisms or token burns, Pi Network has yet to implement such measures, raising concerns about future selling pressure.

3. Broader Crypto Market Weakness

Pi Coin’s struggles are not occurring in isolation—the entire cryptocurrency market has been under pressure.

Bitcoin and Altcoin Market Slump

Bitcoin (BTC) and most altcoins have declined sharply in recent months, driven by concerns over global economic uncertainties, rising interest rates, and geopolitical instability.

Political and Economic Factors

One notable factor weighing on the crypto market is the uncertainty surrounding Donald Trump’s proposed trade tariffs, which could impact global financial markets and investor sentiment. As Bitcoin often dictates market trends, its downturn has dragged down most altcoins, including Pi Network.

Technical Analysis: Signs of a Potential Pi Coin Rebound

While Pi Coin's price has been in a prolonged downtrend, technical indicators suggest that selling pressure may be losing momentum.

1. ADX Shows Weakening Bearish Momentum

The Average Directional Index (ADX), which measures the strength of a trend, has dropped from a high of nearly 60 to just 15. A falling ADX indicates that the current downtrend is weakening, potentially setting the stage for a trend reversal.

2. BBTrend Indicator Suggests Bullish Divergence

Another promising signal comes from the BBTrend indicator, which tracks the spread of the Bollinger Bands. A bullish divergence pattern has emerged, which historically suggests a potential reversal or upcoming price surge.

3. Falling Wedge Pattern Nearing a Breakout

The four-hour Pi Coin price chart shows that the asset is forming a falling wedge pattern. This is one of the most bullish reversal formations in technical analysis, indicating that a breakout could be imminent.

What’s Next for Pi Coin in April?

Given the current technical setup, Pi Coin could be on the verge of a strong recovery in April. If buyers step in, the next major resistance level to watch is $1.7980—a potential 127% increase from the current price.

Catalysts for a Potential April Surge

Several factors could contribute to Pi Coin’s rebound next month:

1. Potential Exchange Listings – If Binance or another major exchange finally lists Pi, demand could surge overnight.

2. Market Sentiment Shift – If Bitcoin stabilizes or reverses its downtrend, altcoins—including Pi—could benefit.

3. Technical Breakout – The falling wedge breakout scenario could drive fresh buying interest, pushing Pi toward the $1.7980 level.

Risk Factors to Watch

Despite the optimistic outlook, there are still risks that could stall or invalidate a potential Pi price surge:

• Continued Lack of Exchange Listings – If Pi remains unlisted on major exchanges, liquidity constraints may persist.

• Additional Token Unlocks – Large unlock events could lead to further sell-offs and price suppression.

• Broader Market Weakness – If Bitcoin continues its downturn, it could limit any significant recovery for Pi Coin.

Final Thoughts: Is Pi Coin Poised for a Bullish April?

While Pi Coin has experienced a harsh correction in 2024, the sell-off appears to be losing steam. Technical indicators suggest that a potential bullish breakout may be on the horizon, especially if key catalysts align.

The most critical factor for Pi Coin’s price recovery will be exchange adoption. If Binance, Coinbase, or another major platform lists Pi in the coming months, it could provide the liquidity boost necessary to propel prices significantly higher.

For now, investors should keep an eye on key technical levels, upcoming token unlock schedules, and any exchange-related announcements that could influence Pi’s trajectory.

With April approaching, the next few weeks could be crucial in determining whether Pi Coin experiences a strong rebound—or remains stuck in its current downtrend.