The price of PI Network's coin has faced pressure for some time, but a recent 20% surge has drawn attention to the project. This article examines the reasons for this growth and the associated challenges.
Recent Surge in PI Coin Price
In the past 24 hours, the price of PI Network's coin has risen by 19%, reaching $0.74. The trading volume has increased by 159%, indicating a two-week high.
Reasons Behind the Current Rally
The Pi Network team has hinted at a major 'ecosystem announcement' expected next week. Anticipated updates include the public launch of the mainnet, new decentralized applications, and developer tools.
User Challenges and Risks
Many users are unable to access or use their Pi tokens, leading to frustration and concerns about the project's reliability. The referral-based structure raises comparisons to pyramid schemes, causing worry among certain user groups.
Despite the recent growth, PI Network faces significant challenges related to token accessibility and user trust. Upcoming announcements may impact the future price direction.
