Pi Network token has had a dramatic loss in the past few months, losing its ranking among the top cryptocurrency list.
The token suffered a huge price decline, dropping close to 80% from its February peak. Its market capitalization also declined from $13.8 billion to a mere $4.4 billion.
As of April 15, it was hovering at $0.6321. This dip also drove Pi down the rankings, from 11th to 26th largest cryptocurrency, according to CoinMarketCap.
Pi’s future heavily depends on how the overall crypto market performs. Typically, altcoins like Pi tend to follow Bitcoin’s lead. When Bitcoin rallies, altcoins often experience a strong upward push as well. A broad crypto recovery could provide the boost Pi needs.
One of the largest issues with Pi is its token supply. More than 1.5 billion tokens will hit the market in the next year, roughly 130 million per month, currently valued at approximately $83 million.
This continued supply growth has caused concern about price dilution. Most users are concerned that a significant amount, approximately 35 billion tokens, is still in the hands of the core team compared to 65 billion distributed to the broader community. This disparity could damage investor confidence.
Pi is traded on lesser-known exchanges including OKX, Gate, and Bitget. A listing on larger global exchanges such as Binance, Coinbase, or Kraken could have a profound effect on visibility and trading volume. Bybit on other hand has already ridiculed the idea of listing Pi coin and even called out the project as a scam.
In previous instances, Kaito spiked 100% in value after listing, while Orca surged more than 170% after its Upbit listing. Such instances indicate how listing on exchanges can lead to high price appreciation.
To be successful in the long run, Pi must develop its ecosystem. That is to get developers to build real-world applications and services that accept the token. Greater utility translates to greater demand, potentially pushing the price upward.
A quick chart analysis shows that , the price of Pi is bound in a sideways trend with low volatility. It has established a double-bottom pattern, which is an indication that a breakout is imminent. If it succeeds in going above the critical level of $0.7857, it may make a move towards the $1 mark. But if it breaks down, the recovery may be pushed even further.
In short, Pi’s comeback depends on a market rebound, improved token strategy, major exchange listings, and stronger real-world use.
Also Read: Pi Coin Price Crashes to $0.60, Down 19% in Just 24 Hours
