The Pi Network has recently drawn attention due to a sharp decline in its value.
Within just 24 hours, the price of Pi Coin dropped by approximately 20%, falling to $0.44. This sharp fall has coincided with a significant increase in trading volume, indicating heightened selling pressure, which has severely shaken investor confidence.
Intensifying Sell Pressure and Technical Delays Raise Concerns
As Pi Network experiences a sudden downturn without maintaining market support levels, the trading volume skyrocketing to $500 million suggests that investors are rapidly liquidating their holdings. Additionally, the project’s inability to fully launch its mainnet and the delays in the identity verification processes have raised doubts within the community. The growing number of users who have completed KYC verification further raises fears of a potential mass sell-off in the future.
The fact that exchanges have yet to list Pi Coin limits the project’s visibility. Without support from major exchanges, Pi Network continues to operate in decentralized frameworks, which reduces liquidity and weakens investor interest in the project. Delayed technical advancements and restricted use cases are among the key factors that raise questions about the project’s potential.
Regulatory Uncertainties and Community Pressure
PiDaoSwap, an application connected to Pi Network, has pointed out the slow progress in obtaining approvals from regulatory authorities, stating that this has caused delays for the project. Market participants express that the inability to secure necessary permissions is not just a technical shortcoming but also a strategic one. The company has announced that it is working on alternative solutions and pursuing new partnerships and technological integrations to restore trust.
However, these efforts have not yet made a significant impact on the community. While Pi Network has over 60 million users, which potentially offers a strong foundation, the actions of some users who have completed identity verification may exert negative pressure on the market due to sudden sell-offs. The community expects more decisive and transparent steps from the project regarding both technical progress and regulatory compliance.
Experts Forecast Price Drop to $0.1
Cryptocurrency analysts have warned that the price of Pi Coin could drop to $0.1 based on current market conditions and the situation surrounding Pi Network. Key reasons include general market fragility, fluctuations in major cryptocurrencies, declining interest in projects with limited use cases, and oversupply concerns. The total supply of Pi Coin reaching 100 billion raises inflationary worries among investors.
With approximately 6.79 billion tokens currently circulating, a notable loss in market value has already occurred at the present price level. Should a significant portion of this supply turn into sales, a sharp collapse in Pi Coin’s price could be inevitable. Experts emphasize that the Pi Network team must expedite technical and regulatory processes to rebuild market confidence. Otherwise, the project may lose further value, prompting investors to seek alternatives.