Despite a strong community and positive forecasts, will Pi Coin realistically rise to $100? We explore the barriers to this goal.
Current State of Pi Coin Price
As of now, Pi Coin is trading around $0.57, significantly down from its peak of $1.60 in May. This represents a drop of over 60%. While some major holders remain active, overall market demand appears to be diminishing.
Lack of Real Use Case
Pi Coin still lacks a significant use case. There is no established app ecosystem, major partnerships, or developers building on the platform. Some analysts suggest that it could take up to five years for the implementation to gain practical application and global reach.
> “Pi Network will likely need at least another 5 years before it can be used as a global peer-to-peer currency.” > > — Dr Altcoin
Issues with Major Exchanges and Wallets
Pi Coin has yet to be listed on major exchanges like Binance or Coinbase, limiting trading opportunities. The closure of the mainnet and lack of transparency are making top exchanges hesitant to engage. Moreover, users have reported issues with wallet setups and exposure of private keys, contributing to growing concerns among users and investors.
Currently, the likelihood of Pi Coin reaching a price of $100 seems extremely low. Without significant changes in the ecosystem and trading volumes, the coin may remain stagnant for many years.
