The Pi Network Coin crashed 62% minutes after lunch as investors dumped the token and jumped ship. Post-launch, it reached an all-time high of $1.97 and plummeted immediately after reaching its ATH. It is now down 67% from its ATH and is attracting bearish sentiments in the charts. A quick recovery from here looks bleak as users are still struggling to transfer their ‘mined coins’ into the Mainnet network.
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This was the only cryptocurrency that allowed users to mine coins on their smartphones. The mining process began in 2019 and continued till February 2025 before being listed on cryptocurrency trading platforms. Millions of users worldwide relentlessly mined the tokens accumulating Pi Coins into their portfolio. The listing on Thursday has allowed users to sell their mined coins on the cryptocurrency exchanges.
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However, the majority of the users were unable to submit their KYC (Know Your Customer) forms. The ones who managed to submit are still in the queue for approval. Therefore, the migration from the Testnet to the Mainnet is pending disallowing miners to stake a claim of their coins. The migration issue is faced by thousands of users and the majority of coins are locked in the network.
Can Pi Coin Recover in Price?
Pi Coin has less chance of recovery as users are selling the tokens after being migrated to the Mainnet. The number of sellers outweighs the buyers making Pi Coin relentlessly dip in the indices. The token is yet to stabilize in the market and is currently facing extreme volatility. Another leg-down from here could take its price below the $0.50 level. It is now hovering around the $0.64 mark and is down nearly 50% in the charts.
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Several top cryptocurrency trading platforms like Gate.io, OKX, and Bitget listed the Pi Coin on the day of its launch. Though buying and selling for the token is made available, sellers are more compared to buyers. This is adding pressure on the token making its price dip a day after its launch.
