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On March 14, 2025, which is Pi Day, it is the sixth anniversary of the establishment of the Pi Network. The project has introduced a major ecosystem upgrade, including a Pi domain name auction mechanism. Users can now acquire domain names for enterprises, brands, and individuals. This enhances the utility of Pi Coin and strengthens the network's infrastructure.
Pi Network has also improved its mainnet interface and expanded its mainnet applications. These upgrades aim to provide a better user experience. Additionally, PiFest has commenced, allowing users to use Pi Coin within the ecosystem. Despite these positive developments, the price of Pi Coin has declined.
Pi Coin Market Performance
Since the launch of the mainnet, Pi Coin has been highly volatile. The token initially soared to $2.10 and then dropped to $1. Speculation about a Binance listing generated excitement, but Binance denied confirming the listing. Users who have completed the KYC process are working to transfer Pi tokens.
As of now, the trading price of Pi Coin is $1.39, down 7.72% daily. Its market capitalization is $9.66 billion, down 8.56%. The trading volume is $358.18 million, down 10.37%. The token's fully diluted valuation (FDV) is $139.38 billion, with a circulating supply of 6.93 billion PI. Pi Coin faces resistance at $1.50 and support at $1.30. If the price breaks through the resistance, it may target $1.70. A breach of the support could push it towards $1.20.
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The Relative Strength Index (RSI) is 39.10, indicating weak momentum. The 14-day RSI average is 40.88, suggesting an oversold condition. A rebound from this level may trigger a short-term recovery. The Chaikin Money Flow (CMF) is -0.12, indicating capital outflow. This suggests a lack of strong buying pressure.
To achieve a bullish reversal, Pi Coin must break through the resistance and regain investor confidence. Traders should monitor the volume trend and RSI movement to identify potential recovery signals.
