Pi Coin Drops 28% Weekly Amid Mainnet Delays, Exchange Concerns

Pi Network’s cryptocurrency, Pi Coin (PI), has experienced a significant decline in value, falling below the $1 mark. The token has dropped by 12% to $0.81, extending its weekly losses to 28%. This decline is attributed to delays in the mainnet launch, the absence of a Binance listing, and growing concerns within the Pi community about the project’s direction.

The current price of Pi Coin stands at approximately $0.86, a stark contrast to its peak of nearly $3 in late February 2025. The token has now lost over 68% of its value from that high point. Investor sentiment has waned as the price continues to drop, with many Pi holders questioning whether the coin can recover to trade above the $1 level any time soon.

One of the key factors behind the price decline is the large number of Pi tokens being unlocked and moved to exchanges. Nearly 8 million tokens have been transferred in the past week alone, creating an oversupply in the market. The daily rate of token unlocks has slowed from 13 million to 3.8 million, which might help ease some of the selling pressure. However, concerns remain as approximately 99.3 million more Pi tokens will enter circulation in the next 30 days.

Community members have expressed frustration with the Pi Network Core Team’s silence on critical updates. They are seeking answers about delays in the mainnet launch and the Binance listing that many had hoped for after a supportive community poll ended on February 28. Some users have alleged that the Core Team is moving away from its promise of full decentralization, claiming the project now seems to be courting large institutions instead. This shift has caused concern among early supporters who believed in the network’s original vision.

Despite these issues, some analysts remain optimistic about Pi’s future. Technical analysis suggests that if Pi can maintain support around the $0.71-$0.86 zone, it could potentially bounce back toward a $2 target. This would represent a significant recovery from current levels. The network has announced a partnership with PiDaoSwap, a community-driven platform aimed at improving governance and transparency. This move could help rebuild confidence in the project’s long-term vision.

Pi Network has faced criticism from prominent figures in the crypto industry. Some have publicly called Pi Network a “scam,” criticizing the project for being “extremely centralized” while claiming to be decentralized. Critics have also pointed to the project’s five-year delay in delivering its mainnet and accused it of using multi-level marketing tactics through its referral programs. They claimed the core technology was “simply copied from Stellar.”

To address the current price issues, some analysts have suggested that the Pi Network team should burn between 60-100 million tokens. This reduction in supply could help stabilize the price and reduce volatility. Looking forward, Pi Network’s price performance will likely depend on how the team addresses these concerns. Increased transparency, progress on decentralization, and successful management of token unlocks will be key factors.

If Pi can expand its exchange listings to major platforms, this could increase liquidity and demand. Some optimistic projections suggest the token could eventually reach $10 if the project achieves its vision of becoming a stablecoin for peer-to-peer transactions. However, investors should remain cautious and monitor market activity closely. Cryptocurrency investments carry inherent risks, and Pi Network’s current challenges highlight the volatility of this market sector.

Pi Network faces a critical period as it works to stabilize its price and address community concerns while dealing with the ongoing token unlock process. The ability of the Pi Network Core Team to navigate these challenges will be crucial in determining the future trajectory of Pi Coin.