NewsPi Network Price Plunges 50% After Mainnet Launch – What Went Wrong?
Vignesh S G21 Feb 20253 min read
Pi Network recently launched its mainnet, sparking excitement across the community. Many believed this would be a game-changing moment, with some predicting PI’s price would skyrocket to $300. But reality had other plans. Instead of soaring, PI’s price has taken a steep dive, crashing 49.8% in just the last 24 hours.
So, what went wrong? Was the hype too big, or is this just the usual market turbulence? Let’s break it down.
Why Has the Pi Price Dropped After the Mainnet Lunch?
It’s normal for tokens to go through price swings in the early days of a mainnet launch.
Before the launch, PI’s IOU price hit a high of $183.49, and some community members believed it would climb even higher to $300. However, those hopes have not played out in reality.
What Makes Pi Network Stand Out?
Despite the price drop, Pi Network has some strong fundamentals:
- Large User Base: Over 10 million people are part of the Pi Network community.
- Multiple Exchange Listings: PI is already available on nine major exchanges, including MEXC, OKX, Open Network, Bitget, CoinW, Gate.io, GCB Exchange, DigiFinex, and LBank.
- Supportive Market Conditions: The mainnet launched at a time when the U.S. government is showing growing interest in supporting the crypto industry.
Since Donald Trump’s election win, the U.S. has taken a more pro-crypto stance. His administration has appointed crypto-friendly leaders to key regulatory bodies like the SEC and CFTC. There is also a special crypto task force under the SEC working on clearer regulations for digital assets.
Can PI Really Reach $10?
Right now, only 10% of Pi Network’s total supply has been released. The current price of PI is $0.6629, and the total supply is 100 billion tokens. This puts its fully diluted valuation (FDV) at about $6.39 billion.
For PI to hit $10, its FDV would need to skyrocket to $1 trillion—something experts say is highly unlikely.
Will Binance List Pi?
Recently, Binance launched a community vote to decide whether PI should be listed on the exchange. So far, about 85% of voters are in favor.
If Binance Binance Binance is the largest cryptocurrency exchange platform, offering crypto trading with a wide range of cryptocurrencies and tokens, including Bitcoin, Ethereum, Dogecoin, Litecoin, and its own token, Binance coin (BNB). Founded in 2017 by Changpeng Zhao (CZ) and Yi He, it is considered one of the most powerful forces in the global crypto economy, with features such as spot, futures, staking, launchpads, and DeFi integrations. Key Features: An easy interface that allows users to purchase and trade Bitcoin directly with one another. Users can generate and trade numerous sorts of tokens in a simple and user-friendly manner. The Binance platform offers tools for buying, selling, and generating NFTs. Users can send, receive, and store digital assets in a safe cryptocurrency wallet. Educational resources to help consumers learn about blockchain, cryptocurrency, and trade. Monetary transactions allow users to purchase cryptocurrency with credit cards, bank transfers, and payment applications. [email protected] Centralised ExchangeCryptocurrenciesTrading AppCryptocurrency investment lists PI, analysts predict the token’s price could climb to at least $2.60. Whether that’s enough to reverse its current downtrend remains to be seen.
The hype wave has passed, and reality has set in—where Pi Network goes from here is what matters now.
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FAQs
- Unlikely. At $10, PI’s market cap would exceed $1 trillion, which analysts deem unrealistic given current supply and valuation.
