Pi Coin Price Crash or Comeback? What the Founder Might Reveal at TOKEN2049
Pi Network’s native token, Pi, has endured a turbulent year. After briefly touching highs near $3 in early 2025, the coin has since lost almost 90% of its value, settling around $0.35. For the millions of Pioneers who mine and hold Pi, this decline has tested patience and belief in the project. Yet hope is stirring again as co-founder Dr. Chengdiao Fan prepares for her first public appearance at TOKEN2049 in Singapore, one of the world’s largest blockchain conferences.
Her keynote marks a milestone for Pi Network, which has often faced skepticism over delays, limited liquidity, and cautious progress. As a Gold Sponsor at TOKEN2049, Pi is signaling its ambition to stand beside established crypto projects. The question is whether Dr. Fan’s speech can reassure the community, attract outside investors, and shift Pi Coin’s price trajectory from decline toward recovery.
A Volatile Year for Pi Coin Investors
Pi Network (PI) Price
Source: CoinMarketCap
Pi Coin’s story in 2025 has been one of sharp peaks followed by steep declines. After Pi Network enabled trading on exchanges in February, the token surged toward an all-time high of about $2.99. That early excitement faded quickly, and within months Pi lost almost 90% of its value, sliding to the $0.34–$0.36 range by mid-September. The price action reflects a mix of limited exchange listings, thin liquidity, and cautious investor sentiment.
In recent weeks, Pi has been consolidating near $0.35, with traders watching two important levels. On the upside, resistance around $0.38–$0.40 has repeatedly blocked attempts at a rebound, while on the downside, support near $0.32–$0.33 has acted as a floor. Analysts describe this tightening range as a coiled spring: a decisive break above $0.40 could invite momentum buyers and signal a short-term rally, while a slip under $0.32 would risk a deeper pullback toward $0.30.
Technical indicators underline this fragile balance. Pi remains below its 20-day and 50-day moving averages (both around $0.355–$0.363), indicating that bearish momentum still persists. Yet the market’s reaction to news also shows how event-driven Pi has become. The announcement of Dr. Fan’s appearance at TOKEN2049 nudged the token upward from $0.34 to $0.36, a small but telling reminder that investors are ready to respond to catalysts tied to the project’s leadership.
Why Circulating Supply and Listings Matter for Pi Coin
Price action is only part of the Pi Coin story. The token’s fundamentals highlight why its market has been so fragile. According to recent data, about 8.09 billion Pi are already in circulation, out of a planned 100 billion maximum supply. That means more than 90% of the eventual supply is still locked or waiting to be released. This structure, where tokens are gradually unlocked as Pioneers migrate to the mainnet, creates a persistent concern: new supply could outpace demand. The effect has already been visible, with events such as the July 2025 unlock of 276 million tokens adding pressure to the market.
Liquidity remains another challenge. Pi Coin has a daily volume that hovers around $40–50 million. By contrast, some platforms have not yet listed the token. The absence of top-tier listings limits market depth and makes Pi more prone to sharp swings, especially when early holders or miners choose to sell. It also feeds into outside skepticism, with critics questioning whether Pi has enough momentum to move beyond a closed community project.
That said, Pi Network’s community strength is a counterweight to these concerns. With more than 45 million Pioneers engaged through the mobile mining app, the project commands one of the largest grassroots followings in crypto. Within this circle, sentiment is strongly optimistic, with many members convinced that Pi’s long-term value lies in building a network of real-world applications. Outside that circle, the broader market’s mood is mixed: curious about Pi’s scale but cautious about its slow progress. As with most altcoins, overall crypto sentiment plays a role as well. A rising Bitcoin tide could lift Pi higher, while a broad downturn would make it harder for the token to break out of its current range.
Chengdiao Fan’s TOKEN2049 Appearance – Why It Matters
For the Pi Network community, few moments carry as much weight as Dr. Chengdiao Fan’s upcoming keynote at TOKEN2049 in Singapore. Since Pi’s launch in 2019, she has largely stayed out of the spotlight. Unlike co-founder Nicolas Kokkalis, who has made occasional appearances, Dr. Fan has remained almost entirely absent from public forums. This October will mark her first-ever appearance at a major crypto event, and the timing is significant.
TOKEN2049 is one of the industry’s largest gatherings, drawing more than 25,000 attendees and hundreds of projects from across Web3. Pi Network has gone beyond simply sending a speaker; it has also taken the role of Gold Sponsor, signaling its intent to be seen alongside the biggest names in the sector. According to the Pi Core Team, Dr. Fan’s talk will focus on moving from liquidity to utility — a theme aimed at addressing one of the central criticisms of Pi: that its value cannot rely solely on speculative trading.
The Pi community views this as a coming-out moment for the project’s leadership. For years, Pi has been criticized for long delays, an extended testnet, and cautious rollouts. A polished, high-profile keynote gives Pi the chance to reset the narrative. Analysts suggest that if Dr. Fan can articulate a clear roadmap — touching on open mainnet plans, ecosystem growth, and partnerships — it could help restore investor confidence. The buzz is already evident: Pioneers are organizing livestream watch parties, and traders note that Pi’s price ticked up on the announcement of her appearance.
What Could the Pi Founder Reveal at TOKEN2049?
Speculation is running high about what Dr. Chengdiao Fan might announce during her TOKEN2049 keynote. While the Core Team has not shared specifics, several themes stand out as likely areas of focus for both the Pi community and investors.
● Roadmap and Open Mainnet: One of the biggest questions is the status of Pi’s Open Network phase. The mainnet remains in a restricted state, requiring KYC verification and lacking full external connectivity. A concrete timeline or confirmation that Pi is ready to move to an open mainnet would be a major bullish signal, as it would allow developers to build dApps and broaden Pi’s ecosystem.
● Exchange Listings and Liquidity: Liquidity has long been Pi’s weak point. Many holders are hoping for hints of progress toward more exchange listings. Even the suggestion of active discussions could lift sentiment and draw new capital into the project.
● Ecosystem Utility and Partnerships: Pi Network’s size is one of its strengths, and Dr. Fan may use her platform to emphasize real-world utility. Past initiatives, such as hackathons and an ecosystem fund, aimed to encourage dApp development. At TOKEN2049, she could showcase progress, new applications, or partnerships with other Web3 projects. Any such reveal would reinforce the idea that Pi can move from hype to practical use.
● Network Upgrades: The Core Team has also been working on technical improvements, including a protocol upgrade to version 23 for greater stability. If this upgrade is complete, or if further features such as smart contract support are announced, it would signal that Pi is strengthening its infrastructure in step with its broader ambitions.
● Market Expansion: Finally, Pi may highlight recent moves to make the token more accessible, such as integration with Onramp Money in over 60 countries. Dr. Fan could use the keynote to underline global expansion plans, reinforcing Pi’s vision as a truly international digital currency.
Together, these areas reflect the hopes of the Pi community. Whether all or only some are addressed, investors will be listening closely for signs of progress that could shift the narrative from delay and doubt toward growth and execution.
Pi Coin Price Prediction: Crash or Comeback?
For investors, TOKEN2049 represents more than just a speaking engagement. It is a potential turning point in Pi Coin’s short trading history. The weeks ahead could determine whether Pi stages a comeback or sinks further into decline.
● The Bullish Case: Optimists argue that if Dr. Fan delivers concrete progress — such as an open mainnet timeline, exchange developments, or meaningful partnerships — Pi could finally break through its stubborn $0.38–$0.40 resistance zone. A close above this level would mark the end of months of sideways trading and could invite momentum traders to push the price toward $0.50 in the near term. The enthusiasm of Pi’s massive community could amplify this effect, creating a genuine rally if there is substance behind the announcements.
● The Bearish Case: The opposite risk is a “sell-the-news” drop. In May 2025, when co-founder Nicolas Kokkalis spoke at another event, Pi rallied beforehand but fell sharply afterward as traders locked in gains. A repeat pattern is possible at TOKEN2049, especially if Dr. Fan’s keynote avoids specifics or underwhelms expectations. Ongoing supply unlocks add to the pressure, as newly released tokens may find their way onto exchanges and weigh down the market.
● Key Levels to Watch: If Pi can sustain a breakout above $0.40, sentiment could shift and encourage a fresh wave of buyers. If it instead slips below $0.32 support, confidence may erode quickly, setting the stage for deeper declines toward $0.30. Broader market conditions matter too: a rising Bitcoin or Ethereum environment could provide a tailwind, while a downturn in the overall market would likely limit any Pi-specific gains.
Conclusion
For Pi Network, TOKEN2049 is more than an industry gathering; it is a defining stage. Dr. Chengdiao Fan’s keynote will be the project’s first real opportunity to present its vision directly to the global crypto audience. That alone signals progress for a network often criticized for silence and delays. The choice to step forward now, backed by a Gold Sponsorship, shows that the Core Team wants Pi to be recognized not only by its community but also by the broader market.
For investors, the message is to stay both hopeful and realistic. If the keynote delivers on long-awaited updates — open mainnet, stronger liquidity, or ecosystem growth — Pi could regain momentum and push beyond its current resistance. Yet, lasting recovery depends on execution after the event, not the speech alone. The Pi community has reason to be optimistic, but the market will judge Pi by what it builds and delivers in the months following TOKEN2049.
Follow Bitget X Now & Win 1 BTC – Don’t Miss Out!
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.
