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<p>The Pi Network price continued its substantial decline over the weekend, reaching its lowest level on record.&nbsp;</p>
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  <span>Summary</span>
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   <li>Pi Network price crashed to a record low last week.</li>
   <li>A popular anonymous pundit called Pi the biggest scam in crypto.</li>
   <li>Technical analysis points to more downside in the coming months.</li>
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<p>Pi Coin (<a href="https://crypto.news/price/pi-network/" rel="noopener noreferrer nofollow">PI</a>) plunged to a record low of $0.1515, crossing the previous all-time low of $0.1866. It has now plummeted by over 90% from its highest point this year, erasing more than $18 billion in value.&nbsp;</p>
<p>Pi Network’s decline coincides with the ongoing <a href="https://crypto.news/heres-why-a-crypto-market-rally-possible-after-crash/" rel="noopener noreferrer nofollow">crypto market crash</a>,<strong> </strong>which started when President Donald Trump unveiled new tariffs on Chinese goods.&nbsp;</p>
<p>The crash also intensified when an <a href="https://x.com/Whale_Guru/status/1977005766377709578" target="_blank" rel="noopener noreferrer nofollow">anonymous X account</a> known as Whale Guru called it “the biggest scam in crypto history.” The attached chart illustrates how the coin’s value plummeted from nearly $3 in February to $0.20.&nbsp;</p>
<p>You might also like: <a href="https://crypto.news/heres-why-a-crypto-market-rally-possible-after-crash/" rel="noopener noreferrer nofollow"> Crypto market could rally after crash: Here’s why </a></p>
<p>The commentator’s claims about Pi Network mirror those of Bybit CEO Ben Zhou. In a statement in February, Zhou vowed that his exchange would not list Pi.&nbsp;</p>
<p>He pointed to a Chinese police warning that it was a scam targeting elderly people. Pi Network’s team rejected these claims.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p>1. Here is a official police warning of <a href="https://twitter.com/search?q=%24Pi&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$Pi</a> from Chinese police back in 2023 warning to the public that it’s a scam targeted towards elderly folks <a rel="noopener noreferrer nofollow" href="https://t.co/LaGJqXSOXR">https://t.co/LaGJqXSOXR</a> which leaks their personal data and loss of their pension. There are multiple other reports out there… <a rel="noopener noreferrer nofollow" href="https://t.co/gkEu2wZwfo">https://t.co/gkEu2wZwfo</a></p>— Ben Zhou (@benbybit) <a href="https://twitter.com/benbybit/status/1892608824869327026?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 20, 2025</a>
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<p>Pi Network has been in a freefall since its mainnet launch in February. One main reason for this is that no major crypto exchange has listed it, making it highly illiquid.&nbsp;</p>
<p>In addition to the scam allegations, exchanges have likely rejected listing it due to its high centralization and lack of transparency. For example, on-chain data shows that the obscure and unaudited Pi Foundation holds over 90 billion Pi Coins in hundreds of wallets.</p>
<p>Pi Network’s circulating supply has continued rising through its daily unlocks. The unlock schedule shows that over 1.24 billion tokens will be unlocked in the next 12 months.</p>
<p>In addition, Pi Network price has not achieved its goal of having real-world utility. Its ecosystem, which must be accessed on the Pi Browser, is relatively small. The team has also not made any funding announcements regarding the $100 million ecosystem fund launched in May.&nbsp;</p>
<h2 class="wp-block-heading" id="pi-network-price-technical-analysis">Pi Network price technical analysis</h2>
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 <img loading="lazy" width="3574" height="2038" src="https://media.crypto.news/2025/10/Pi-Network-Price-2.webp" alt="Pi Network price">
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  Pi Coin price chart | Source: <a href="https://crypto.news/price/pi-network/" rel="noopener noreferrer nofollow">crypto.news</a>
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<p>The daily timeframe chart shows that the value of Pi has been in a strong downtrend since February this year. It plunged from a high of $3 to a low of $0.1515 on Friday. The coin has remained below the key support at $0.3252, where it formed a double-bottom pattern.</p>
<p>The coin has also remained below the 50-day and 100-day Exponential Moving Averages. Therefore, the most likely scenario is where it continues falling, with the next point to watch being the psychological point at $0.10.&nbsp;</p>
<p>Read more: <a href="https://crypto.news/zcash-price-possible-funding-rate-spikes-wyckoff/" rel="noopener noreferrer nofollow"> Zcash price holds ground after Grayscale spark, yet warning signs mount </a></p>

Pi Network price crashes, Whale Guru echoes Bybit CEO claims

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