Pi Network’s token has experienced a significant decline in recent months, with its price plummeting by nearly 80% from its February peak. The token’s market capitalization has also fallen sharply, from $13.8 billion to just $4.4 billion. As of April 15, Pi was trading at $0.6321, and this drop has resulted in a major fall in its rankings, from the 11th spot to 26th on CoinMarketCap.
The future of Pi Network’s token largely depends on the overall performance of the cryptocurrency market. Like many altcoins, Pi tends to follow Bitcoin’s price movements. When Bitcoin sees a rally, altcoins often experience a corresponding rise. Therefore, a broader recovery in the crypto market could provide the necessary momentum for Pi to recover.
One of the primary concerns surrounding Pi is its token supply. Over the next year, more than 1.5 billion tokens are set to enter circulation, at a rate of roughly 130 million per month, which is currently valued at about $83 million. This growing supply has raised worries about price dilution, especially since approximately 35 billion tokens remain under the control of Pi’s core team, compared to 65 billion distributed to the wider community. This imbalance has created doubts about the project’s long-term stability and investor confidence.
Currently, Pi is traded on smaller exchanges, including OKX, Gate, and Bitget. A listing on major global platforms such as Binance, Coinbase, or Kraken could significantly boost its visibility and trading volume. However, Bybit has dismissed the possibility of listing Pi, even labeling the project a scam. Historical examples, such as Kaito’s 100% surge after listing and Orca’s 170% jump after its Upbit debut, demonstrate how exchange listings can trigger substantial price increases.
To ensure long-term success, Pi Network must focus on building a robust ecosystem. This involves encouraging developers to create real-world applications and services that accept Pi tokens. A greater use case for the token would likely lead to increased demand, driving the price higher.
An analysis of Pi’s price chart reveals a sideways trend with low volatility. It has formed a double-bottom pattern, indicating that a breakout could be on the horizon. If Pi’s price surpasses the key resistance level of $0.7857, it may push towards the $1 mark. However, if it fails to gain momentum, its recovery could be delayed further.
In conclusion, Pi’s ability to recover depends on a combination of market conditions, a more strategic token supply model, listings on major exchanges, and enhanced real-world utility.
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