Despite “Pi Day” anticipation, Pi Network has plummeted over 55% since the start of the month, derailing Pi price forecasts with a $1.25 low before rebounding in the new week.
Now, with a 24-hour 100% increase in trading volume to $1 billion, it seems there has been a “buy the dip” market reaction to the front-running altcoin’s decline.
Such volatility has become synonymous with the token. Its highly anticipated debut and mainnet launch led to a 65% crash, only to be followed by a 400% rally in the weeks after.
With this track record, traders are beginning to question whether whale manipulation is at play.
What’s got Pi Down? Is Whale Manipulation at Play?
PI’s market structure makes it vulnerable to such manipulation. With few dApps built around the token, its price is primarily driven by speculation rather than actual use cases.
Without meaningful real-world adoption, Pi remains a prime target for short-term speculative trading, making it especially prone to sharp price swings.
Market analysts suggest that whales may be employing a “pump-and-dump” strategy—artificially inflating prices before mass sell-offs to capitalize on volatility.
Whale manipulation is a credible argument, broader economic pressures—such as US Trump’s “tariff war,” NATO tensions, and weak U.S. jobs data—are contributors to the March Drop.
All the while Pi Network is facing internal setbacks. An anticipated Binance listing, after receiving 86% approval in a community vote, has been delayed with no comment from the platform.
Pi Price Analysis: Could There Be Another 400% Rebound?
While Pi Network finds itself in a similar situation to February’s crash, a 400% rally from this point seems unlikely.
PI / USDT 4H chart, symmetrical triangle breakdown. Source: binance.The recent breakdown from a symmetrical triangle pattern forming since late February has yet to hit its projected bottom at $0.87, suggesting a potential further 40% decline.
However, an early exit may be possible with the successful rebound from a key support zone that has held throughout the pattern—especially as indicators show bearish momentum easing.
The Relative Strength Index (RSI) is recovering after briefly touching the oversold threshold at 30, while the MACD line is on the verge of a golden cross—both signs of strengthening buying pressure.
The immediate resistance at $1.243 will be a key test of whether this rebound has staying power.
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