The Pi Network price has plunged over 23% today, bringing the cryptocurrency’s value down to around $0.90. This sharp decline is a major setback, especially considering that Pi was trading close to $3 on February 27. In less than a month, the coin has lost two-thirds of its value, shaking investor confidence.

From Hype to Collapse

Pi Network quickly gained traction due to its easy smartphone mining model, attracting a wave of enthusiastic investors. The rapid surge to nearly $3 fueled optimism, but that sentiment has now flipped dramatically. The coin is plummeting as profit-taking and fading trust drive relentless selling.

Pi Network Crashes by 23% – Price Drops to $0.90 Amid Heavy Sell-Off — Source: TradingView

Capital Outflows Are Accelerating the Crash

The Chaikin Money Flow (CMF) has now dropped deep into negative territory, confirming that more capital is leaving Pi Network than entering. This is a strong bearish signal, indicating that selling pressure is overwhelming any potential buying interest. Historically, such deep CMF drops often precede further price declines, making a short-term recovery unlikely.

Technical Indicators Point to Further Downside

The Relative Strength Index (RSI), a key momentum indicator, is hovering at extremely low levels, currently at 14.58. This suggests Pi Network is severely oversold, but without buying interest, the downtrend could continue.

With no clear support zones and investor confidence deteriorating, Pi Network’s price remains vulnerable to further declines. What once seemed like a promising project is now struggling under the weight of market reality and intense selling pressure.

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James Frost

I trade cryptocurrencies based on fundamentals, TA and indicators. It started as a hobby, then part time and currently full time for more than 2 years. This kind of trading and analysis is endless daily work. This means throwing all previous analyzes in the trash and starting day-to-day again. My previous experiences: CryptoSvet.cz