Pi Network Faces Obstacles As Price Wobbles Below $1, What's Happening?

Business Mayor

20-05-2025

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Pi Network has seen its price struggle since its launch after an initial rally pushed the price to $2.98. Its launch in February 2025 was highly anticipated and triggered its lift-off as believers who had been with the project for five years were finally rewarded. However, with the passage of time, the coin has also succumbed to the pressures from the bears and has now fallen by more than 75% from its all-time high. So, in this report, we take a look at the Pi Network price and the reasons behind the consistent decline.
Pi Network Runs Into Post-Launch Troubles
It's been three months since the Pi Network main net launch and the project has already been faced by problems. The first problems that arose after launch was the locked coins and lots of miners being unable to claim their coins due to KYC issues. Nevertheless, the coin continued to maintain the trust of its users.
With months already gone, the lack of listing on Tier 1 crypto exchanges such as Binance and Coinbase has raised concerns among investors. Given that the altcoin is now a top 30 cryptocurrency with a market cap of over $5 billion, it makes it one of the only few coins in this category with no Tier 1 listing.
As a result of this, community members have speculated that the team's actions could be the reasons behind the lack of listing. This is because top exchanges usually require transparency before listing tokens due to their large audience and there are rumors that the Pi Network team have been less than forthcoming about their token.
Another issue that has risen up is the lack of decentralized finance (DeFi) usage on the platform. No DeFi apps have been deployed, thus leaving the Pi Network price at the mercy of crypto market forces, with no real activity to create demand and push it higher.
Pi Network community members have also called for transparency on the $100 million Pi Network Ventures fund that was announced to promote innovative startups. So far, there have not been any developments that would show growth to the community.
Price Runs Into Troubles
With no network activity driving the Pi Network price, it has fluctuated with the crypto market. During the weekend, the altcoin saw an over 50% surge above $1.2. But this rally was short-lived as the price has since retraced and crashed back down below $1.
This struggle below $1 mirrors the lack of strong support as the community is still doubting the future of the token and are questioning whether the Pi Network team will deliver on its promises. If these promises do end up being a reality, it is likely that the Pi Network price does reverse and test for new highs this bull cycle.
Price wobbles with lack of support | Source: PIUSDT on TradingView.com
Featured image from Dall.E, chart from TradingView.com