Pi Network (PI) is once again under fire, not just for its plunging token price, but for what many are calling a poorly timed PR distraction. The project’s founder, Nicolas Kokkalis, became the centre of bizarre online speculation this week after social media chatter linked him to Bitcoin’s elusive creator, Satoshi Nakamoto. But instead of boosting confidence, the move appears to have backfired
As the Pi price drops back toward $0.83, frustration in the once-loyal community is reaching new highs, and faith in the project is wearing thin.
Chart Breakdown: PI Faces Pressure With No Clear Catalyst
The recent bounce in PI price didn’t last long. After spiking past $1.50 earlier this month, the token has slipped below $0.90 and is now trading at $0.8356.
- Resistance remains stiff at $1.00, with a heavier wall around $1.82 from April’s failed breakout.
- Support sits at $0.60, which previously attracted buyers, but sentiment is weaker now.
- MACD shows waning momentum, with bearish crossover forming again.
- RSI at 53.50 signals neutrality, not conviction — and that’s the issue: there’s no real trigger for upside right now.
Put simply, the hype is gone, and so is the momentum. Without any new utility or roadmap clarity, PI looks exposed to more downside.
Community Backlash: Stunt or Strategic Misfire?
Instead of sparking renewed interest, this wave of Satoshi speculation has drawn backlash. Pi holders are venting on X and Telegram, accusing the project of deflecting from real issues:
- No clear mainnet launch
- Lack of utility for PI tokens
- Poor communication from core developers
The latest PR moment may have brought Pi back into headlines, but it didn’t fix the bigger problem, a growing credibility gap.
Final Word: Is Pi Running Out of Moves?
As of now, Pi Network is walking a fine line between community loyalty and community fatigue. Kokkalis may still have big plans behind the curtain, but unless those plans include a clear roadmap, better transparency, and token unlock updates, it won’t matter who people think he is.
The hype machine misfired. The chart’s rolling over. And the Pi Network story is starting to look like a case study in how not to handle momentum.