I get more DMs about Pi than any other coin. More than Solana. More than XRP. More than Bitcoin. And I get it — the community is enormous, the promise was massive, and a lot of people mined PI on their phones for years waiting for this moment. So let me give you the honest take that most crypto sites won’t, because they’re either shilling it for clicks or dismissing it entirely without looking at the data. The truth about Pi Network in April 2026 is somewhere in the middle, and it’s more complicated than either camp wants to admit.For on-demand analysis of any cryptocurrency, join our Telegram channel.What Is Pi Coin’s Price Right Now and Why Did It Crash?PI is trading at $0.17 as of this morning. Its all-time high was $2.99, hit shortly after mainnet launch and the initial Kraken listing. That’s a 94% drop. Brutal. But the reason isn’t complicated if you understand one concept: buy the rumor, sell the news. Pi’s price rallied in March as the community anticipated Pi Day announcements and the Kraken listing. Both happened. Both were exactly what people expected. And then the buying stopped because there was nothing new to buy for. Every trader in Lagos, Delhi, Manila, and Jakarta who wanted to buy PI already had it. The new buyer pool dried up and gravity did the rest.Does the Protocol 21 Upgrade Change Anything?Yesterday was the hard deadline for Protocol v21.2 — a mandatory hard fork that every mainnet node had to complete or get disconnected. The Pi team called it a “security and compatibility” upgrade, and they weren’t bluffing. Nodes that missed the cutoff got dropped. On the surface, that’s bullish. It shows the team is actively developing, enforcing standards, and pushing the network toward something more scalable. The 526 million KYC validations and 18 million verified users are real numbers. No other mobile-first project has achieved that level of identity verification. But here’s where I pump the brakes. Technical upgrades don’t move price unless they unlock new demand. And right now, PI’s biggest problem isn’t its technology. It’s its tokenomics.Why Is Pi Coin’s Circulating Supply a Problem?This is the part most Pi articles skip because it makes the community uncomfortable. PI has 10 billion tokens in circulation right now. The max supply is 100 billion. That means 90% of the total supply hasn’t been released yet. For comparison, Bitcoin has 95% of its supply already in circulation. Ethereum has about 100%. When 90% of a token’s supply is still locked up and will eventually unlock, every future unlock creates selling pressure. The market knows this. Institutional traders in New York, Singapore, and London won’t touch a token with that kind of overhang unless the utility justifies absorbing all that new supply. And right now, PI’s on-chain utility is still being built. The smart contracts just went live. The DApp ecosystem barely exists. The cross-chain bridge is in testing. All of those things could be great in 18 months. But the market prices what exists today, not what might exist tomorrow.Should You Buy Pi Coin at $0.17?I’m not going to tell you PI is dead. I’m also not going to tell you it’s going back to $2. What I will tell you is this: the chart is showing a head-and-shoulders pattern with the next key support at $0.128. The 200-day EMA sits at $0.266, which means PI would need to rally 56% just to reclaim its long-term trend line. And the token is trading below every major moving average on every timeframe. If you’re a trader in India, Africa, or Southeast Asia who mined PI for free on your phone, your cost basis is essentially zero. Holding costs you nothing. Selling at $0.17 gives you something. That’s a personal decision, not a trading call. If you’re thinking about buying PI with real money at current prices, I’d want to see three things first: a weekly close above $0.20, on-chain DApp transactions growing month-over-month, and at least one institutional integration beyond exchange listings. Until those boxes are checked, PI remains a community project with impressive reach but unproven economics. And I say that with respect for the 18 million people who verified their identity to be part of this network.The crypto graveyard is full of projects that had massive communities and no product-market fit. It’s also full of projects that looked dead at 94% down and then came back to set new highs. I genuinely don’t know which category Pi ends up in. But I know that the answer won’t come from Telegram hype or Twitter threads. It’ll come from whether real users start doing real things on this chain. Watch the on-chain data, not the price. The price will follow the utility. It always does.For on-demand analysis of any cryptocurrency, join our Telegram channel.DCG Clears $700M Debt Through Genesis SettlementHow We Made above $2000 in 1 month from Single NFT Trade: Next Trade Details Inside!Uniswap Labs Acquires NFT Marketplace Aggregator, Genie XDC Price Analysis August 2022.lwrp.link-whisper-related-posts{ margin-top: 40px;margin-bottom: 30px; } .lwrp .lwrp-title{ }.lwrp .lwrp-description{ } .lwrp .lwrp-list-container{ } .lwrp .lwrp-list-multi-container{ display: flex; } .lwrp .lwrp-list-double{ width: 48%; } .lwrp .lwrp-list-triple{ width: 32%; } .lwrp .lwrp-list-row-container{ display: flex; justify-content: space-between; } .lwrp .lwrp-list-row-container .lwrp-list-item{ width: calc(25% - 20px); } .lwrp .lwrp-list-item:not(.lwrp-no-posts-message-item){ } .lwrp .lwrp-list-item img{ max-width: 100%; height: auto; object-fit: cover; aspect-ratio: 1 / 1; } .lwrp .lwrp-list-item.lwrp-empty-list-item{ background: initial !important; } .lwrp .lwrp-list-item .lwrp-list-link .lwrp-list-link-title-text, .lwrp .lwrp-list-item .lwrp-list-no-posts-message{ }@media screen and (max-width: 480px) { .lwrp.link-whisper-related-posts{ } .lwrp .lwrp-title{ }.lwrp .lwrp-description{ } .lwrp .lwrp-list-multi-container{ flex-direction: column; } .lwrp .lwrp-list-multi-container ul.lwrp-list{ margin-top: 0px; margin-bottom: 0px; padding-top: 0px; padding-bottom: 0px; } .lwrp .lwrp-list-double, .lwrp .lwrp-list-triple{ width: 100%; } .lwrp .lwrp-list-row-container{ justify-content: initial; flex-direction: column; } .lwrp .lwrp-list-row-container .lwrp-list-item{ width: 100%; } .lwrp .lwrp-list-item:not(.lwrp-no-posts-message-item){ } .lwrp .lwrp-list-item .lwrp-list-link .lwrp-list-link-title-text, .lwrp .lwrp-list-item .lwrp-list-no-posts-message{ }; } Related Posts OKX and Bybit delist sanctioned Russian banks from payment optionsSecurities Commission Addresses FTX Statement on Bahamian WithdrawalsOut of 132 Stablecoins, Only 50 are Currently PeggedAustralia’s Victoria Police Makes First Crypto Seizure Under New Law CoinCodeCap Weekly Glance: 02 April – 08 AprilKazakhstan may soon set up a national crypto reserveAkuna Capital Review: Technology, Strategy and Global Market OperationsA Chinese city intends to pay its public servants in digital yuan