- PI has dropped 80% year-to-date, making it one of the weakest tokens above $2B market cap.
- Whale activity indicates strategic accumulation amid hopes of a longer-term rebound.
- A potential listing on Binance or Coinbase could spark a strong bullish PI breakout.
Pi Coin (PI) is showing faint signs of life after a tumble that dragged its price to an all-time low of $0.335 earlier this week. The token rebounded to over $0.36 at press time, marking a modest 5% gain in the past 24 hours. While this recovery has sparked brief optimism, the broader picture remains grim.
So far in the past year, PI has shed 80% of its value, ranking it among the worst-performing digital assets with a market cap above $2 billion. In the past 90 days, top-100 peers like Ondo (ONDO), Internet Computer (ICP), and Aptos (APT) lost 1%, 2.47%, and 20% respectively. PI, in contrast, has plunged nearly 50%, raising questions about its long-term viability.
Trading activity reflects this uncertainty. According to CoinMarketCap, Pi’s volume plummeted from a recent peak of $140 million on August 2 to just $44 million—down 68%—as the token reached its lowest price point. However, a rebound followed, with volumes rising nearly 50% to hit $68.49 million as the price began to recover.
Analysts note that such spikes in volume can signal renewed trader interest or the influence of speculative sentiment. However, without strong fundamentals or continued buying support, they warn that the current gains may not hold. PI has shown similar bounce patterns in the past—each time followed by a deeper dip.
Why is PI’s price up today?
The positive shift follows a recent announcement from the Pi Network. On August 7, the platform officially rolled out fiat on-ramp integration, allowing users to purchase PI with traditional currency. Verified partners such as Onramp.money, Banxa, and TransFi now facilitate these transactions, powered by the aggregator Onramper.
Though quietly active for about a month, the fiat feature’s official launch removes a major barrier to entry. Retail users no longer need to rely on external exchanges, potentially streamlining adoption and broadening access. The move is seen as a critical step in making Pi more accessible and aligned with mainstream crypto services.
Despite the milestone, the market response remained subdued. Analysts suggest that the limited availability of on-ramp partners in certain regions, along with jurisdictional restrictions on fiat transactions, may have tempered the short-term impact.
Still, investor behavior hints at shifting sentiment. On-chain data from PiScan reveals that four of the five largest transactions on the Pi Network in the past 24 hours were withdrawals from the OKX exchange—totaling roughly 1.94 million PI tokens. This suggests strategic accumulation by large holders, or “whales,” potentially betting on a longer-term price rebound.
Although long-term trends still point to weakness, these recent developments, rising volume, easier fiat access, and large-holder activity, are fueling cautious optimism in the short term. However, the road to recovery remains uncertain. For now, all eyes are on whether these foundational upgrades can translate into sustained demand—or if Pi will slip back toward its recent lows.
Price Forecast: PI’s Moves Into Make-or-Break Territory
PI is approaching a pivotal moment on the charts, with its price structure revealing a high-stakes technical setup that could shape the token’s next major move. After plunging to a record low of $0.335, the token rebounded and is now consolidating within a bearish pennant flag—a pattern typically known for signaling the continuation of a downtrend.
Before this, PI was moving inside a descending broadening wedge, a classic bullish reversal formation. However, the token broke below the wedge’s lower boundary, defying market norms and triggering the steep drop. Now, the price is testing the upper edge of the bearish pennant, with traders watching closely for a breakout.
A clean break above this resistance could trigger a short-term rally toward the lower boundary of the original wedge, which now serves as a potential resistance zone. If this zone is broken, PI could signal the start of a broader bullish resurgence, opening the door to a sustained recovery.
On the flip side, rejection at the pennant’s upper arm could reinforce bearish sentiment and possibly lead to a fresh round of losses—potentially even pushing PI to new all-time lows. However, on the technical indicators front, RSI is providing a tentative neutral to bullish signal.
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The Relative Strength Index currently sits at 53.96, which is in neutral territory, meaning it is neither bullish nor bearish. This marks a steady climb from near the oversold level of 30, signaling ongoing buying momentum. If this trend persists, the RSI could soon push past 60 and potentially enter the overbought zone above 70.
Similarly, the MACD (Moving Average Convergence Divergence) shows bullish signals. The MACD line is currently at -0.0031, sitting above the signal line at -0.0067. Accompanied by rising green histogram bars, this signals that momentum is shifting toward the bulls.
Exchange Listing Speculation Fuels Pi Coin Optimism
Speculation about a potential listing on major exchanges like Binance and Coinbase is adding momentum to PI’s outlook. While current obstacles—such as the lack of open-source transparency and absence of verified third-party audits—continue to hold back approval, resolving these compliance gaps could unlock a flood of fresh liquidity.
A confirmed listing would not only boost investor confidence but also dramatically widen access to the token. If realized, this development could act as a major catalyst for a bullish breakout, lifting Pi Coin out of its current phase and setting the stage for a sustained upward trend.
