Pi Coin is trading near $0.2168 after dropping 48% in three months, making it one of the weakest performers among the top 50 cryptocurrencies.
Analysts say the project is losing momentum because of low trading activity and limited market demand. Pi Network’s model of distributing free tokens has also created supply and liquidity problems.
The team recently introduced a guide for creating tokens ahead of the Mainnet v23 update, but critics say the changes do not fix core issues such as unclear utility and a weak economic model.
On-chain data shows declining activity. The top 100 transactions in the past 24 hours moved only 9 million PI tokens worth about $2.45 million. No single transaction exceeded $100,000, suggesting major holders are staying cautious. The Relative Strength Index is near 45, showing weak momentum.
Pi Coin remains in a downtrend. The price has fallen from $0.29 and is stuck between $0.204 and $0.22. Analysts say the token must break $0.2368 to target $0.26 or it may fall further.
Some analysts warn the price could move closer to zero if demand continues to weaken. Meanwhile, rival project PepeNode has raised more than $2 million, gaining attention from investors.
Pi Coin is likely to remain under pressure unless the project can show stronger utility and increase user engagement.
