The post Pi Network Users Panic as Migration Deadline Threatens Token Loss appeared first on Coinpedia Fintech News
Pi Network, once a viral sensation, is now facing growing frustration from its community. Users, known as Pioneers, are struggling to transfer their mined Pi Coins (PI) to the Mainnet before the March 14 deadline. Many fear they could lose most of their holdings, leading to accusations that the project is more hype than substance.
Here’s what you should know
Migration Deadline Causes Panic
The network has set 8:00 AM UTC as the final cutoff for completing Know Your Customer (KYC) verification and migrating tokens. Users who miss this deadline could lose the majority of their Pi holdings, except for coins mined in the last six months. While a grace period was introduced to help users, many are still facing technical issues that prevent them from completing their transfers.
Users Left Frustrated
With time running out, many in the crypto community have taken to social media to demand an extension until the ongoing issues are resolved. Some users say their balances remain unverified even after completing KYC and following the Mainnet checklist. Others report that they have submitted support tickets but received no response from the Pi Network team.
As frustration grows, criticism of Pi Network is increasing. Many users are accusing the project of being unresponsive and are starting to question whether it is a legitimate innovation or just another overhyped project.
Market Confidence Weakens
The uncertainty around migration has taken a toll on Pi Coin’s price, which has fallen 16.3% this week to $1.40. In the past 24 hours alone, it has dropped another 12.2%.
Despite this decline, some analysts believe Pi Day on March 14 could help trigger a price rebound. However, Pi has already broken below key support at $1.43, confirming a bearish trend. The 50-day EMA at $1.74 is now acting as strong resistance. If the downtrend continues, the coin could drop to $1.20 or even $0.99. To regain momentum, it needs to climb back above $1.74. But with ongoing market volatility and no confirmation from Binance, investors remain cautious.
Uncertainty Over Binance Listing
The long-awaited Binance listing remains in question. While 86% of the Pi community voted in favor of listing the token, Binance has yet to make any official announcement. This lack of clarity has further frustrated Pioneers, leading many to leave negative reviews on platforms like Binance and Bybit.
Adding to the controversy, Bybit’s CEO has previously called Pi Network a scam, raising even more doubts about the project’s legitimacy.
With the migration deadline fast approaching and no clear solution in sight, Pi Network is under growing pressure to address users’ concerns. If these issues are not resolved soon, confidence in the project could take a serious hit, leaving many to question whether Pi Network can live up to its early hype.
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