MEXC stopped PI network drawer? But what about OKX?

Just two months after the launch of the highly anticipated mainnet of the PI network on February 20th, the project is facing updated scrutiny as users are primarily reporting withdrawal halts of major exchanges for MEXC. The development overshadowed what was expected to be a groundbreaking moment in the PI ecosystem.

Users from various forums and social media platforms claim they are unable to extract PI tokens from MEXC, raising concerns about liquidity and accessibility. Meanwhile, PI owners are now paying attention to other exchanges like OKX and Bitget, and wanting to know if the drawers are working. So far, no formal issues have been reported from these platforms, but the community remains an alert.

Technical Outlook: Will PI get back $1?

According to a recent analysis, PI recently failed breakout attempts from symmetrical triangles, causing short-term declines. Analysts believe that if the PI can recover and recover $0.85, then a rally from $0.89 to $0.91 is still possible. However, a break below $0.83 could drop even further towards key support of $0.80. At the time of writing, the Pi is trading for $0.63.

Market uncertainty and careful trading behavior continue to dominate the PI chart movement, with many waiting to see if the coin regains momentum or falls further.

Looking ahead: Utilities and market pressures

The core strength of the PI network lies in the growing ecosystem. Telegram Wallet, upcoming distributed applications (DAPPS), and ongoing community engagement all point to projects with a long-term vision. However, questions remain about the coin’s ability to obtain exchange compliance, liquidity, and real-world traction.

Furthermore, the inability to withdraw PI tokens from certain exchanges raises concerns about whether the broader markets and regulators are fully operational assets or whether they will watch PIs as a work in progress.

Despite the obstacles, the PI community is optimistic. Supporters hope that new use cases, improved accessibility and expanded exchange partnerships will ultimately push PIs back past the $1 threshold.