Pi Network Faces Backlash as Users Struggle with Mainnet Migration
The post Pi Network Faces Backlash as Users Struggle with Mainnet Migration appeared first on Coinpedia Fintech News
Pi network, which became a viral sensation, suddenly saw a massive backlash from the community, where people are calling it another overhyped project. Pi Network users, known as Pioneers, are growing increasingly frustrated as they struggle to transfer their mined Pi Coins (PI) to the Mainnet ahead of the March 14 deadline.
The network has set 8:00 AM UTC as the cutoff for completing Know Your Customer (KYC) verification and migration. Failure to meet the deadline could result in users losing most of their Pi holdings, except for coins mined in the past six months. While the Grace Period was introduced to give users more time, many are still facing unresolved technical issues preventing them from transferring their balances.
Seeing the network downturn, Many crypto analysts have voiced their concerns on social media, demanding another extension until all technical glitches are fixed. Some users report that their balances remain unverified despite completing KYC and following the Mainnet checklist. Others have filed support tickets but claim they have received no response from the Pi Network team. Criticism is at the top, with users accusing the project of being unresponsive and raising doubts about its credibility.
Pi Coin Faces Heavy Losses Amid Market Uncertainty
As migration issues continue, Pi Coin has suffered a sharp decline, dropping 16.3% this week and currently trading at $1.40. In the past 24 hours alone, it has seen a 12.2% decline. Despite this downturn, some analysts remain optimistic, pointing to the upcoming Pi Day on March 14 as a potential catalyst for a price rebound. Adding to the pressure, Pi broke below key support at $1.43, confirming a bearish trend, with the 50-day EMA at $1.74 now acting as a major resistance. If the downtrend continues, Pi could test support at $1.20 or even $0.99. To reverse momentum, it must reclaim $1.74. With ongoing market volatility and no confirmation from Binance, investors remain cautious about Pi’s short-term outlook.
Meanwhile, the long-anticipated Binance listing remains uncertain. Although the Pi community overwhelmingly voted—86% in favor—for the exchange to list Pi, Binance has yet to make an official announcement. This lack of clarity has fueled frustration among Pioneers, many of whom have taken to review platforms to express their dissatisfaction. Both Binance and Bybit have seen a flood of one-star ratings from angry users, with Bybit’s CEO previously labeling Pi Network a scam.
With the deadline fast approaching and no resolution in sight, Pi Network is facing mounting pressure to address users’ concerns before confidence in the project takes a deeper hit.
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