• Pi Coin (PI) has suffered an 80% decline in year-to-date losses, raising doubts about its survival and future sustainability.
• Despite a market cap comparison, Pi Coin recorded a 26% loss in 30 days, lagging behind other cryptos like MNT and ONDO.
• Pi Coin’s trading volume declined by 70%, hitting an all-time low of $0.335, highlighting decreasing liquidity and investor interest.

Pi Coin (PI) is a digital currency that was at one point valued at more than $1 billion, yet it has recorded a drastic decline in the year-to-date losses, with a plunge of 80 percent. This dramatic drop of value has left the cryptocurrency in the doldrums, and more questions are being raised about whether it can survive in the market and even sustain itself in the future.

PiCoin has performed the worst among the top 40 cryptocurrencies, recording a heavy decline of 26 percent within the last 30 days. Other coins of similar market caps, like Mantle (MNT) and Ondo (ONDO), however, have fared well with impressive 53% and 16% gains, respectively.

Also Read: Pi Network Delays Full Launch Until Pi Coin Hits Stable $10 Price Target

Pi Coin Sees Major Trading Decline and New Low

Also, Pi Coin has experienced a dramatic decrease in trade levels. The coin reached as much as $140 million in active trading volume on August 2 but fell off to only $43 million the next day.

Such a dramatic decrease in the amount of trading by 70% is a tough indicator regarding the liquidity of Pi Coin and can probably indicate the waning interest of investors. In addition, the coin has recorded a new all-time low of 0.335 just recently, further adding to the falling interest.

The negative trends of Pi Coin have accelerated, while most other cryptocurrencies have experienced some growth. This extreme opulence can be credited to a considerable degree to unfulfilled hopes regarding the growth of the Pi ecosystem.

The Pi Core Team has significantly delayed the token’s transition to the public mainnet. Inability to get listed on large centralized exchanges (CEXs) has helped shatter the credibility of the project. 

Pi Coin: Short-Term Dip, Long-Term Hope

As CoinCodex predicts, the value of the token may decline to the value of 0.271317 by August 10. Conversely, CoinLore’s forecast indicates that this will rise to the target of $0.3789 in ten days. Nevertheless, in the long run, the forecast is optimistic, and CoinLore believes that the Pi Coin will achieve a price of $2.58 in 2025.

Additionally, the movements in the Bitcoin market influence the performance of the coin. The current correlation between Pi Coin and Bitcoin is 0.93, which means that there is a close connection between the two trade assets. 

Source: TradingView

With the volatility and uncertainty around the price of Bitcoin, the price trend of the token is seen to closely imitate that of Bitcoin. As upheavals in the prices of Bitcoin happen, the coin is also vulnerable to the general market direction, making it even more prone to bearishness.

The investor mood also paints an ugly situation regarding the future of cryptocurrency. The Chaikin Money Flow (CMF) is an indicator that measures the movement of money into or out of an asset; the indicator has been continuously decreasing, indicating that outflow is larger than inflow to an asset. 

Source: TradingView

In the future, it is unclear where the price of Pi Coin will move. Given the low trading volumes, pessimism among investors, and external market conditions such as the volatility of the price of Bitcoin, it could be difficult to view Pi Coin as achieving a meaningful turnaround in the near term. 

Provided it may succeed in stabilizing and achieving a level of $0.362, the token may cause a short-term BOOM. In case of the price exceeding $0.401, the bearish scenario can be invalidated, and another opportunity can be some way to recovery.

The downward trend of the price of Pi Coin is a reflection of the problems that cryptocurrencies are having at the base level of the market. Issues related to delays in its ecosystem The combination of development issues, low trading volumes, and a lack of exchange listings has significantly eroded investor confidence.

Also Read: Pi Network Expands to 65 Million Users as Pi Coin Faces Market Pressure