Pi Coin's Mainnet Launch: From $183 IOU to $0.76 Reality
1min read The long-awaited mainnet launch of Pi Coin has sparked curiosity and anticipation among investors, with many wondering if the cryptocurrency can reach a price of $10. After nearly a decade of community building, the Pi Coin Network finally transitioned to the mainnet, marking a significant milestone in its development.
However, the current price of Pi Coin has left early miners disappointed, as it has not lived up to the high expectations set by its IOU price, which traded as high as $183.49. Despite the initial hype surrounding the mainnet launch, the coin's price has since plummeted, raising questions about its potential to reach the $10 mark.
In the days leading up to the mainnet launch, some community members anticipated Pi Coin's price to skyrocket as high as $300. However, the reality has been far from these lofty expectations. According to CoinMarketCap data, Pi Coin's price was $0.7620, down 55.16% in less than 24 hours. With a market capitalization of $4.77 billion and a trading volume of $1.09 billion, Pi Coin has a valuation bigger than Monero (XLM), PEPE, and Internet Computer (ICP).
The Pi Coin ecosystem remains calm, with early backers expressing optimism despite the backlash from industry leaders. The project has gained significant support from global exchanges, with Pi Coin listing on OKX and CoinDCX, among others. However, some ecosystem trends must be considered when evaluating the feasibility of a rebound to $10.
The Pi Network boasts a robust user base, with over 10 million users reported before the open mainnet launch. This large user base, coupled with growing listings on exchanges, can help maintain the liquidity needed for a potential price rebound. Token launches are known for their sharp volatility, and Pi Coin's price drawdown is not an isolated incident, as similar price movements have been experienced by other top coins during their launches.
If the Pi Network team continues to develop the project, there is a high likelihood of long-term recovery. The positive reception of Pi Coin in the crypto industry, coupled with the pro-crypto stance of the Trump administration, has created a favorable environment for the project to flourish. Additionally, the establishment of the Crypto Task Force by Mark Uyeda may 
