Pi Network's token has seen significant price fluctuations since trading began. Despite reaching peaks, its value has been on a downtrend.
PI Continues Its Freefall
The Pi Network token started trading less than a month ago and has since experienced massive turbulence. On February 20, after launching its Open Network, the price climbed above $1.80 but then briefly dipped below $0.65, leading to a major rally to nearly $3 at the end of the month. However, this peak was short-lived, and the price has since declined to $1.17.
Factors Influencing PI Price
One potential factor for the decline is the end of the KYC Grace Period, which concluded on March 14 without an extension. Developers had warned users to complete necessary steps to avoid forfeiting mined tokens, potentially causing panic and downward pressure on the price. Additionally, Binance, despite over 86% of voting support, has yet to list the token, unlike OKX, Bitget, and MEXC.
Optimism and Forecasts
Despite the decline, optimists remain hopeful for a price recovery. Coinvo suggested the current bearish period might soon be replaced by a rally, while other observers predict a drop to $1 before a new surge.
The current situation with Pi Network's token remains volatile, but there are indicators of potential recovery. Analysts are divided, but interest in the asset remains strong.
