Pi Network Faces 88% Price Drop, More Declines Expected

Pi Coin is experiencing a prolonged downtrend, with its price decreasing by approximately 88% since launch. Key factors contributing to this decline include substantial token unlocks and weak liquidity on exchanges.

Key Points

Continuous release of unlocked tokens is significantly impacting Pi's price. Only 8 billion out of the 100 billion total supply are in circulation.
About 135.7 million Pi tokens will be unlocked in the next 30 days, adding to the circulating supply and exerting selling pressure.
Current market data indicates that around 4.5 million Pi worth $1.614 million are released daily, leading to an oversupply situation.
Order books for Pi Network on exchanges are thin, limiting buying potential.

Development Delays and Community Concerns

Delays in KYC rollout, V23 upgrade, and mainnet decentralization have caused investor skepticism.
A prominent community member suggests bold steps like a buyback and burn program to stabilize Pi's economy.
Suggestions include reconsidering Pi's mining model to either lock supply or introduce utility-based mining.

As of now, Pi trades at $0.3552, with potential further declines if it falls below $0.350.