Key Notes

Key Notes:

Pi Coin launched on mainnet on February 20, 2025, initially surging 36% to $1.99 on major exchanges due to high anticipation.The price of Pi Coin dramatically crashed 55% within hours, plummeting from $1.989 to $0.9123 on OKX amidst heavy sell-offs.Major exchanges like Binance, Coinbase, and Kraken are yet to list Pi Coin, while Binance is gauging community interest via a poll closing on February 27, 2025.

Pi Network’s long-awaited mainnet launch on February 20, 2025, sent shockwaves through the crypto market. Within the first hour of trading, Pi Coin skyrocketed by 36%, reaching a peak of $1.99 on major exchanges, reflecting the immense hype surrounding its debut.

As excitement reached a fever pitch, the token’s market value seemed unstoppable. However, that optimism proved short-lived. The price of Pi Coin plummeted 55% within hours, falling from a high of $1.989 to a shocking low of $0.9123, according to OKX. The dramatic crash left investors scrambling, with billions in trading volume exchanged as panic set in.

Pi price dropped from $1.989 to a low of $0.9123, a 55% decline within hours | Source: OKX

Heavy sell-offs wiped out gains as fast as they had appeared. The token, which initially surged past $1.98, found itself struggling to hold ground above $1 as traders unloaded their holdings. Analysts pointed to liquidity drying up as a major factor in the sharp reversal.

Pi Coin’s wild price swings didn’t stop at the opening crash. On Bitget, the price briefly soared to $3.40 before tumbling yet again. On Bybit, Pi Coin fell below the $1 mark soon after trading started, while on OKX, the token managed to stabilize at $1.50.

The Pi price speculation had been rampant before launch, with rumors of IOU prices ranging from $60 to $70, but the actual market value proved far more fragile than many had hoped. Now, analysts and investors fear the price will go to zero. Some analysts already point to a 99% price crash after a few hours of launch.

🚨 $PI Crashes 99% After Listing! 🚨

Pi Network’s long-awaited mainnet launch shocked traders as $PI plummeted $1.44! 😱 Issues with tokenomics raised concerns.Will $PI bounce back? 👀 @DEXWireNews #PiNetwork #CryptoCrash⭐️ Learn More About $PI 📱Download our Mobile App »… pic.twitter.com/lLgiIy6Xzl

— DEXWireNews – Charts 📈 (@DEXWireTeam) February 20, 2025

“Pi Network’s unique model attracted millions, but the market response shows a mix of excitement and skepticism,” one analyst remarked. Despite early setbacks, some traders remain hopeful that further exchange listings could revive the coin’s momentum.

Pi Coin saw immediate listings on major centralized exchanges (CEXs) like OKX, Bybit, BitMart, Gate.io, MEXC, and Bitget. However, Binance – the world’s largest crypto exchange – has yet to commit, instead launching a poll to gauge community interest. The poll, set to close on February 27, 2025, will likely determine whether Pi Coin makes its way onto Binance’s platform.

86% voted ‘Yes’ in favor of Pi listing | Source: Binance Square

Other major exchanges, including Coinbase, Kraken, and Upbit, have remained silent on whether or not they will list Pi Coin. If these platforms decide to support it, a potential rebound in price could follow.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Marco T. Lanz on X