Pi Network's Price Climbs from Depth: Is a Reversal Imminent?
Hot Off The Press: Pi Network's Recent Stance
Pi Network's token, trading at around $0.65, is making a comeback, boasting a remarkable rebound after hitting 30-day lows below $0.40 in early April. Despite this, its value remains 80% away from its record high of $3, achieved shortly after its launch as the Open Network.
April saw a noticeable stabilization in Pi Network, leading investor discussions on whether it has commenced its first phase.
The Debate: Has Pi Network's Phase Begun?
Crypto analyst Dr. Altcoin recently hinted at this possibility in a tweet. He pointed out that a wallet associated with the Pi Core Team has been actively accumulating Pi tokens over the past few weeks, possibly trying to halt the price drop.
The wallet in question amassed approximately 50 million Pi tokens, worth around $30 million. However, the long-term implications of this move remain to be seen as the overall crypto market is on an uptrend.
Further factors fostering optimism include Chainlink starting to support Pi's blockchain in data feeds and Pi Network co-founder Nicolas Kokkalis' appearance at Consensus 2025. These events could potentially drive more short-term demand.
Web3 analyst Jatin Gupta mentioned that Chainlink's support opens up significant DeFi opportunities for Pi Network participants.
Refresher: Pi Network's Journey
Recently, Pi Network shifted its mainnet, marking a significant step in its development.
After launching its mainnet in February 2025, Pi Network transitioned from a closed beta phase to an open network, enabling users to trade Pi coins on various exchanges. However, it still hasn't been listed on major platforms like Binance due to concerns over compatibility and regulatory issues.
During the ongoing migration to the mainnet, Pi's price witnessed a 5% climb. However, despite this mainnet launch, Pi's price has faced challenges, plummeting 79% from its all-time high of $2.78 due to market cap issues, poor tokenomics, and sell pressure from the unlocking of millions of tokens.
Rumors suggest Pi could experience a substantial price surge once it becomes widely available on major exchanges, though such predictions are highly speculative. In spite of these challenges, Pi's large community and innovative mobile mining approach could play a crucial role in future growth, provided regulatory compliance and exchange listings are addressed.
- In the light of Chainlink's support for Pi's blockchain, analyst Jatin Gupta contends that this opens up significant DeFi opportunities for Pi Network participants.
- Amidst the ongoing debate about Pi Network's first phase, Dr. Altcoin's tweet hints at the possibility of a wallet associated with the Pi Core Team accumulating Pi tokens, an action that could potentially halt the price drop.
- Despite Pi Network's token trading at around $0.65, still 80% away from its record high of $3, the integration of Web3 technology could contribute to its growth and stability in the long run.
