The Pi Network has marked 100 days since the launch of its open network; however, instead of growth, the token's price has declined. Currently, the price of Pi coin stands at approximately $0.5038 after a minor 0.78% dip.
Reasons for Pi Coin Price Decline
In the past week, the price of Pi coin has dropped by 16%. Since reaching an all-time high of $2.98 on February 26, the token has also touched a low of $0.4012 on April 5. Key factors for this decline include:
- The impact of the Iran-Israel war, resulting in declines across the entire crypto market, including strong coins like Bitcoin and Ethereum; - A prediction from renowned analyst Dr Altcoin, who indicated that the token might fall to $0.40 unless the project team becomes more transparent.
Community Struggles Increase
User and investor concerns have heightened due to a password leak on the PiChain Global platform, risking user data. In light of this, the team has urged participants to bind their emails to accounts for fund protection. This event has further eroded community trust.
Future Predictions for Pi Coin
Despite the downturn, hope is building within the community as the Two Pi Day approaches on June 28. On this day, co-founder Dr Nicolas Kokkalis is expected to speak at the Consensus 2025, possibly announcing significant updates. Some analysts believe that if the price holds above $0.40 and breaks resistance at $0.55-$0.60, this could pave the way for a price increase. Long-term, some experts predict a potential price of $5 by 2027.
The situation regarding Pi Network presents a mixed picture. On one hand, there are issues such as price declines and user distrust. On the other, upcoming events and community growth may lead to a breakthrough. The future of the token depends on the team's actions and the community's response.
