Pi Network Struggles: Price Hovers Near All-Time low Amid Rising Supply and Weak Demand
Since its mainnet launch in February, Pi Network (PI) has faced meaningful challenges. The token’s price has plummeted by more than 85%,leaving investors disillusioned. Several factors have contributed to this downturn.
The first issue is the relentless increase in supply.Daily token unlocks mean that over 1.2 billion PI tokens, valued at $437 million, will hit the market within a year. This influx is diluting the value of each token.
Additionally, Pi Network hasn’t met its pre-launch hype. The ecosystem remains inactive, with few retailers accepting PI. Efforts like the pi AI Studio and App Studio haven’t sparked the growth anticipated. The Pi Network Venture Fund, though promising $100 million, hasn’t made any investments.
Lack of exchange listings compounds the problem. Major platforms like Upbit and Coinbase shy away due to openness concerns about the Pi Foundation. This keeps PI out of reach for millions of crypto enthusiasts.
- Increase in Pi token supply leading to value dilution.
- Underwhelming ecosystem progress despite multiple initiatives.
- No tier-1 exchange listings due to transparency issues.
However, there’s hope. the Pi Network price chart hints at a possible bullish breakout. A falling wedge pattern suggests this downward trend might end. If a breakout occurs, the price could soar to $1, a potential gain of 150%.
