Here’s Why Pi Coin Price is Falling: What Lies Ahead for Pi Network?

Pi Coin price continued to hover below the key level of $0.40 over the week, sparking concerns among traders over a continuing dip.

Market participants are looking for potential reasons behind the gloomy momentum witnessed over the past few months.

Many market pundits have cited the ongoing token unlocks, delay in listing on tier-1 exchanges, and lack of clarity from the Pi Core Team as a potential reason behind the dip.

For context, the token unlocks usually impact the value of an asset while increasing the supply in the market.

Simultaneously, Pi Coin value has surged to a record high after its mainnet launch, especially due to soaring optimism over a Binance listing.

Despite having a majority vote cast for the listing, Binance has delayed the process, potentially impacting the price.

On the other hand, the Pi community has criticized the Pi Core Team due to a lack of transparency over their future plans for the project.

These reasons might have dampened the traders’ sentiment, while dragging down the prices to a record low of $0.33 earlier this month.

Amid this, a renowned Pi Community expert has shed light on another potential reason that might have triggered the selloff.

He has discussed the potential reason behind the “growing gap between Pioneers and the Pi Network project.”

Why is Pi Coin Value Slipping Despite Massive Community Support?

Pi Coin value slipped more than 5% in the weekly chart, while losing around 13% over the last 30 days.

During writing, it was down by around 1% and traded at $0.3822, and its one-day trading volume fell 41% to $40 million.

The plunge in the market has also pushed it to 38th position among top cryptocurrencies by market cap from the 30th position.

Notably, Pi Network price has touched an all-time low of $0.335 on August 6, further reflecting the heavy selling pressure in the market.

As said earlier, the dip could be due to a flurry of reasons that have dampened the market sentiment over the asset.

However, a renowned Pi Community expert, Dr Altcoin, has shed light on a unique factor that might have also contributed to the gloomy trading momentum of the asset.

According to him, the main issue lies in the differing priorities between Pi Network’s pioneers and the project team.

He noted that Pioneers are primarily focused on solving their immediate financial problems and want to see a rapid increase in Pi Coin’s value.

In contrast, the Pi Network project team is working on more complex, long-term goals. This includes inclusivity, accessibility, safety, environmental sustainability, and building a robust ecosystem.

Dr Altcoin believes that this disconnect in priorities is causing the gap between the two groups.

He has outlined a 5-year plan for Pi Network, emphasizing the project’s commitment to delivering lasting solutions.

Other Key Factors Contributing to the Price Drop

Several factors are contributing to the decline in Pi Coin’s value, including:

• Absence of Major Exchange Listings: Pi Coin’s absence from prominent exchanges like Binance and Coinbase is limiting its accessibility and liquidity.
• Transparency and Tokenomics Concerns: The Pi Community has criticized the Core Team regarding the transparency of Pi Network’s tokenomics. The critics have also raised concerns over the concentration of token holdings by the Pi Foundation.
• Investor Sentiment and Panic Selling: The continuing gloomy trading scenario of Pi Network has also contributed to the recent losses. It has triggered panic selling among traders, with many exiting the market due to a lack of confidence in the asset.

What’s Next for Pi Network?

Despite Pi Coin value hovering near its all-time low, Dr Altcoin remains confident in the long-term potential of the asset.

Besides, he has reiterated his prediction that Pi Network price might witness a recovery from September as the token unlocks will be lower from that period.

Having said that, it appears that the crypto might witness a recovery ahead. On the other hand, Dr Altcoin has repeatedly said that it is the best time to accumulate Pi, given its low price.

According to him, this would help traders to bag Pi Coin at a lower price and book a massive profit in the long run.

However, given the volatile trading scenario of the asset, investors should exercise due diligence while putting their bets into the asset.

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