The Pi Network has encountered significant price challenges since its inception. After witnessing an initial wave of excitement that pushed the price to $2.98, the February 2025 launch sparked enthusiasm among long-time supporters who had invested five years into the project. Unfortunately, over time, the coin faced relentless pressure from market bears and has now declined by more than 75% from its peak value. In this article, we explore the current state of Pi Network and the factors contributing to its ongoing decline.

Challenges Following the Pi Network Launch

Three months after the mainnet launch, the Pi Network is grappling with multiple challenges. A notable issue emerged with locked coins, where many miners struggled to claim their rewards due to KYC hurdles. Despite these initial setbacks, user faith in the project has largely remained intact.

As time progressed, the growing uncertainty regarding listings on major exchanges like Binance and Coinbase has raised eyebrows. Given its status as a leading cryptocurrency boasting a market cap exceeding $5 billion, it’s puzzling that Pi Network has yet to secure a spot on these tier 1 platforms.

This inaction has prompted speculation within the community regarding the team’s transparency. Major exchanges prefer clear communication, and it appears the Pi Network team has not provided enough assurances to bolster investor confidence.

Moreover, there is a glaring absence of decentralized finance (DeFi) applications on the network. The current lack of innovative DeFi mechanisms means the Pi Network price remains vulnerable to broader market fluctuations, lacking the essential use cases to drive demand.

Calls for accountability regarding the $100 million Pi Network Ventures initiative designed to support startups have been increasing. So far, the absence of visible outcomes has left community members concerned about the path forward.

Market Price Dynamics

Without substantive network activities propelling the price, the Pi Network has largely tracked the broader cryptocurrency market trends. Recently, it experienced a notable surge, exceeding $1.2. However, this temporary upturn quickly faded, with the price plummeting below the $1 threshold once again.

This pattern highlights a fragile support level, as many users remains skeptical about the project’s future direction. Unless the Pi Network team delivers on its commitments, the price might continue to struggle. However, should these promises materialize, there is potential for a significant rebound, possibly allowing Pi Network to explore new heights during the upcoming bull cycle.