Pi Network’s price has dropped more than 17% today, causing concern among investors about the future of Pi Coin. Despite significant interest from the community, the cryptocurrency has faced considerable losses recently, mainly due to the lack of major announcements and updates related to the token. In this context, a Pi Coin enthusiast has pointed out the key reasons behind the recent market sell-off.
Pi Network was one of the biggest decliners in the crypto market today. Pi Coin’s value dropped by over 17%, to $1.16, while its daily trading volume increased by 54%, reaching $551 million. The main cause of this decline is the unlocking of a large number of Pi tokens, which increases supply and puts pressure on the price.
Investor concerns over Pi Coin’s long-term sustainability have grown as the price has fallen sharply. A major factor contributing to this is Pi’s failure to secure a Binance listing, despite 86% of its community voting in favor. This rejection has eroded investor confidence in the project. Additionally, the Pi Core Team failed to deliver any major updates during Pi Day, a crucial event for the community.
Many early miners, who have supported the project for years, are now openly criticizing the development team for the lack of visible progress, especially after six years of development. Unmet expectations are causing growing frustration among investors.
A major complaint from Pi Coin investors is the absence of a clear roadmap for the Open Mainnet launch. Unlike other crypto projects that offer transparent timelines, Pi Network has been vague about its future developments. This lack of clarity has led to growing skepticism, with some fearing the project may never achieve full decentralization.
In a recent post, Pi enthusiast Dr. Altcoin pointed out that the coin’s ranking has fallen to #13, with its price dropping below $1.30. He emphasized that the declining value reflects the community’s disappointment with the project’s progress. Without a clear roadmap, investors remain hesitant, leading to more sell-offs.
The Pi Network community is calling for immediate action from the core team. Investors believe that for Pi Network to regain momentum, the team must address the lack of trust by:
- Releasing a clear Open Mainnet roadmap.
- Launching the long-awaited 100 decentralized applications (DApps).
- Disclosing key investors and partnerships.
According to Dr. Altcoin, these steps are crucial in restoring faith in the project and preventing further price declines. Without transparency and real progress, Pi Coin risks losing more support. However, a recent Pi price analysis suggests a potential 3X rally if Binance lists the token on its platform.
