4 Reasons Why the Price of Pi Coin Will Drop to $0.1 and Pi Network Is in Free Fall

Over the past week, Pi Network has been in free fall; in the last day alone, it has crashed by 20%, plunging to $0.44 and losing its place among the top 30 cryptocurrencies. As the price of the Pi Coin is predicted to drop by another 60% to $0.1, investors have given up on a recovery. The general market mood for the altcoin has become very pessimistic, despite a few developments.

Pi Network Has Been On A Freefall

With daily trading volumes over $500 million, the Price of Pi Coin has been under selling pressure and has not respected any support levels. Due to delays in the mainnet launch, KYC procedure, etc., investors have been losing faith in the project, which is why this enormous dumping has occurred. Because of this, several well-known cryptocurrency exchanges, including Binance and Coinbase, have stopped listing Pi Coin price  on their systems.

 

However, PiDaoSwap has expressed displeasure over protracted hold-ups in obtaining Know Your Business (KYB) permits. PiDaoSwap has chosen to introduce its non-fungible tokens (NFTs) on Binance Chain as a stopgap measure to keep the project moving forward while it awaits regulatory approval.

Furthermore, at the present, Pi Network price is not benefiting from other advances like the Banxa integration.

Four Reasons Pi Coin Price Could Drop to $0.1

Amid the very poor performance and 85% drop from its February high of $3.0, experts are now speculating that the Pi Coin price could drop to $0.1. The four main factors that can contribute to this are

Mass Sell-Off Risk: With more than 60 million members, worries about what might occur after unverified holders finish KYC are growing. Should a sizable percentage choose to cash out, the market may become oversupplied. With a maximum supply of 100 billion tokens, Pi Network currently has 6.79 billion in circulation, providing plenty of opportunity for dilution.

Lack of Major Exchange Listings: Market confidence may wane in the absence of listings on reputable sites like Binance or Coinbase. Pi might only be available on mid-tier exchanges like Gate.io and OKX, which would restrict price stability and liquidity.
Macro Market Vulnerability: There may be widespread altcoin selloffs in response to a slump in the cryptocurrency industry as a whole, particularly if Bitcoin falls below the $70,000 threshold. Pi would probably be among the most severely impacted since it is a highly speculative asset.

Stagnant Utility Growth: Initiatives like PiFest and Zito Realty have been mentioned as real-world uses, but if they don’t scale significantly, the ecosystem might stall and Pi will become more like a penny currency.

According to our Pi Coin price forecast, the altcoin will spend the upcoming month trading below the $0.40 mark. Given the present free fall, the Pi core team must act to stop the further decline and restore community trust.

 

 

 

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