Pi Coin has been subject to heavy selling pressure, falling 12% today to $0.81, taking its weekly losses to 28%. The drop comes after delays in the Pi Network mainnet launch, Binance listing, and waning investor confidence.
Pi community members are calling for transparency from the Core Team (CT), which has kept mum on key updates. The price of the coin has dropped from $3 to $0.82, raising questions about its future. Pi Network having deviated from decentralization to institutional control is also being accused.
Despite criticism, some community figures like Dr. Altcoin argue that institutional involvement could boost Pi’s utility and price. However, delays and lack of communication continue to frustrate investors.
Crypto analyst Moon Jeff predicts further downside to $0.60 but remains optimistic about a recovery to $5 if market sentiment improves. Another analyst, Dr. Altcoin, speculates a potential surge to $3.14 or even $10 in the coming months.
Recent problems, such as disputes with Binance and a rushed token unlock timeline, have triggered higher Pi circulation, further pinning down the price. More than 10 million Pi tokens flooded into the market recently, and another 102 million will hit the market shortly.
Questions about Pi’s decentralization persist, especially with concerns over SuperNode requirements and reports that the Core Team holds 82.8 billion out of 100 billion Pi tokens. Limited validator nodes further challenge its decentralization claims.
With Pi Coin off 73% from its peak at $2.99, the way forward is in doubt. As much as its.pi domain sale has found favor, getting back the investor confidence and listing on important exchanges will be decisive in any sort of meaningful recovery in prices.
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