TL;DR
- Thousands of users are facing technical issues migrating their tokens to the Mainnet before March 14, raising concerns and criticism.
- Pi Coin’s price has dropped over 16% in the past week, with a bearish trend that could push it down to $1.20 or lower if no recovery occurs.
- The lack of confirmation on a Binance listing and statements from Bybit’s CEO have increased doubts about the project’s legitimacy.
Pi Network is facing a crisis as thousands of users struggle to transfer their tokens to the Mainnet before March 14. The deadline set for completing the KYC verification process has raised concerns, as those who fail to migrate their funds will lose most of their accumulated tokens. Although the project introduced a grace period, technical issues have prevented many users from completing the process on time.
The difficulties have caused major frustration within the community. Numerous users have reported that, despite following all the required steps, their balances remain unverified. Many have submitted support requests without receiving any response. Pi Network’s lack of communication has triggered a wave of criticism, leading some to question the project’s reliability.
The market impact has been immediate. Pi Coin’s price has fallen more than 16% over the past week and continues to decline. The loss of key support at $1.43 has reinforced the bearish trend, and some analysts warn that the price could continue falling to $1.20 or even $0.99 if a strong recovery does not occur. To reverse this trend, the price must climb above $1.74, a level now acting as resistance.
Pi Network Is Still Waiting for Binance’s Response
Uncertainty over a potential Binance listing has worsened the situation. Despite a large majority of the community voting in favor of listing the token on the platform, Binance has yet to confirm its inclusion. This silence has fueled further doubts, especially after Bybit’s CEO labeled Pi Network a scam.
With the migration deadline fast approaching and no clear responses from the team, pressure continues to mount. If technical issues and lack of communication persist, confidence in the project could deteriorate further. What was once a viral phenomenon is now facing a crisis that may determine its future
