Pi Coin crashes 25% in a week: Binance listing delay, Fed uncertainty fuel massive sell-off; Shiba Inu gains traction

Pi Coin has been on a sharp decline since March 14, leaving investors concerned about its future trajectory. At the time of writing, its price has fallen to $0.9854, marking a 7.87% drop in just 24 hours. The market cap now stands at $6.69 billion, reflecting a 7.51% decline, while the 24-hour trading volume has surged to $829.45 million—a staggering 59.13% increase—suggesting heightened trading activity amid uncertainty. The token’s fully diluted valuation (FDV) is at $98.63 billion, with a circulating supply of 6.79 billion Pi out of a total of 100 billion.

The recent plunge represents a 25.34% drop in just one week, as Pi Coin tumbled from $1.54 to $1.08. Several factors have contributed to this downturn, adding to the volatility in the broader cryptocurrency market.

One of the primary reasons behind the price slump is market anticipation surrounding the Federal Reserve’s ongoing two-day Federal Open Market Committee (FOMC) meeting. While interest rates are expected to remain unchanged at 4.50%, investors are closely watching for any signals of future rate cuts. The uncertainty has created volatility across crypto markets, and Pi Coin has not been immune to the broader sell-off.

Another major factor fuelling concerns is speculation around Pi Coin burns. While some tokens have been removed from circulation due to fees and unverified account losses, there has been no official announcement of a large-scale burn event. With the total supply capped at 100 billion and 6.79 billion currently in circulation, questions remain over the potential impact of supply adjustments.

Additionally, disappointment over Pi Coin’s anticipated Binance listing has contributed to selling pressure. Many investors expected Binance to announce its listing on March 14, but no confirmation came from the exchange. This uncertainty follows a community vote on February 27, where 87.1% of participants supported listing the token. The lack of an official update has left traders frustrated, leading to a wave of sell-offs.

Technical issues with Pi Network’s migration process have further weighed on investor sentiment. Several users have reported losing tokens due to grace period lapses, sparking widespread frustration. Reports indicate that one user alone lost 1,427 tokens due to delays, prompting more investors to exit their positions.

The persistent decline has caused Pi Coin to slip from its 11th rank on CoinMarketCap to 17th. Meanwhile, Shiba Inu, which remains steady at $0.00001257 with a market cap of $7.41 billion, is gaining ground. Analysts predict that if Pi Coin’s downturn continues, altcoins like Shiba Inu, Polkadot, Litecoin, and Sui could overtake it. However, speculation remains that a confirmed Binance listing could potentially drive Pi Coin’s price to $5 or higher, offering a much-needed recovery.

For now, the uncertainty looms large, and all eyes remain on the market’s next move.