The pink pill is a loosely defined term largely defined by femcel opposition to the bluepill. It is also a philosophical worldview whose exact meaning remains in flux and as such doesn't have a strict definition, however, it is prominently used in the femcel incelosphere to reject platitudes directed at women, to highlight the prevalence of mentalcels among women, or as a direct identical female equivalent to the black pill except with the hopeless incels consisting solely of femcels (i.e. female incels).
Recently, it has also come to refer to the coping ideology put forth by 4chan's /r9k/ board that a man can undergo HRT (i.e. pinkpill) and escape inceldom. Supposedly, taking the pinkpill will transform an incel into a cute and sexually attractive woman to male Chads. However, such practices have mixed results, and should rarely be viewed as a viable path to ascension.