Why Pi Network Price Should Hit $10, Or Its Over for Pi Coin

After a steep fall to $0.40 earlier this week, the Pi Network price bounced back to $0.60 levels, with its market cap above $4.1 billion. However, on-chain data shows that investors’ interest in the Pi Coin is waning quickly, with daily trading volumes dropping another 44% to $158 million. Analysts point out that the increasing supply of PI tokens at the exchanges can further dampen the upside and could put the ecosystem growth in the shadows.

Why Is Pi Network Investor Sentiment Down

Pi Network community member Edycabas recently shared his take on the collapse of transaction activity on the blockchain. He noted that the Pi blockchain is underwhelming, reportedly processing less than one transaction per second, despite years of promotion suggesting thousands of transactions per block during its Open Mainnet phase.

Responding to this, another community member, Dr Altcoin, noted that the blockchain itself remains operationally robust, boasting a 99.5% transaction success rate and averaging 20 transactions per block. “The real issue lies in transparency concerns surrounding the co-founders, which continue to deter major investors and centralized exchanges (CEXs),” he said.

Besides, Dr Altcoin also shared aspirations for the Pi Network price to reach a minimum token value of $10, which, as per the analyst, would significantly boost engagement with decentralized applications (DApps) and broader adoption. Dr Altcoin has also previously suggested for Pi token burns to boost the Pi Coin price higher.

Pi Coin Core Team Lacks Transparency

Dr. Altcoin has also questioned the Pi Network co-founders’ reluctance to engage publicly, urging them to address the community and investors. “Why do the co-founders avoid interviews?” Dr. Altcoin asked, adding that the “Pi Community has kept this project alive for years, and it deserves greater recognition”.

Dr. Altcoin stressed that co-founders Nicolas Kokkalis and Chengdiao Fan must step up to showcase the project’s potential to prevent the token from declining further, warning of a possible Pi Coin price dip below $0.30 in the coming week.

Crypto analyst Dr. Altcoin has issued a statement predicting significant activity on centralized exchanges (CEXs) as unlocked Pi tokens flood the market. Starting next week, an average of 134 million Pi tokens will reportedly enter circulation monthly.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.