Chiara Bianchi
The Pi Network (PI) price has declined by 17% today, signaling a weakening investor sentiment toward the token. Despite ongoing discussions around Pi Coin, the cryptocurrency has been struggling due to a lack of major announcements and updates.
Adding to concerns, a Pi enthusiast has outlined key factors contributing to the latest market selloff. Currently, Pi Coin is trading at $1.16, while its 24-hour trading volume surged by 54% to $551 million.
The recent downturn coincides with an impending Pi token unlock, which could significantly increase supply. This supply surge has raised concerns among traders, causing additional selling pressure. Investor sentiment has taken a hit, leading to a sharp decline in Pi Coin’s value.
Major Selloff Triggered by Binance Listing Failure
Pi Coin’s price slump has led to questions about the project’s long-term viability. A key factor behind this drop is Pi Networkโs failure to secure a Binance listing, despite 86% of the community voting in favor.
This rejection has weakened investor confidence, pushing more holders to exit their positions. Additionally, the Pi Core Teamโs failure to deliver significant updates on Pi Dayโa crucial event for the communityโhas further fueled frustration.
Long-time Pi miners, who have supported the project for over six years, are voicing their dissatisfaction with the lack of visible progress. As a result, trust in the project is gradually eroding.
Unclear Roadmap Raises Investor Concerns
One of the biggest red flags surrounding Pi Coin is the absence of a clear roadmap for its Open Mainnet launch. Unlike other crypto projects that offer transparent timelines, Pi Network has remained vague about its future plans.
This lack of clarity has heightened skepticism, with some investors fearing that the project may never achieve full decentralization. Crypto analyst Dr. Altcoin recently pointed out that Pi Coin’s ranking has slipped to #13, with its price falling below $1.30โa reflection of the community’s growing disappointment.
Community Calls for Transparency and Development
The Pi Network community is demanding urgent action from the Pi Core Team to restore investor confidence. To regain market momentum, investors believe the team must:
- Provide a transparent roadmap for the Open Mainnet launch.
- Deliver the promised 100 decentralized applications (DApps).
- Reveal key investors and strategic partnerships.
According to Dr. Altcoin, these steps are essential to rebuilding trust and preventing further price declines. Without transparency and tangible progress, Pi Coin risks further losses.
However, market analysts suggest that if Binance were to list Pi Coin, the price could potentially rally 3X, signaling a major turnaround for the project.
