The Pi Network community is facing tough times as the price of its native token recently dropped below $0.50, even touching $0.40. This sudden fall created panic among holders, with many unsure whether to sell or wait for a possible recovery. However, the price has now bounced back, gaining 6% in the last 24 hours. Pi Coin is now trading at $0.61.
The price dip comes after weeks of little progress from the Pi Core Team. Despite earlier promises of major upgrades and ecosystem development, no significant updates have been delivered. This has frustrated investors and caused the token’s price to stagnate.
Can Pi Price Hit $10?
Even though Pi Network’s price recently fell below $1, many in the community still believe it could reach $10 one day. Pi Network already has over 70 million registered users (called Pioneers). This is a big number for any cryptocurrency. If even a small part of this community starts using Pi for daily payments, online shopping, or services within the Pi ecosystem, demand for the token could increase — and when demand rises, prices often follow.
Right now, most of the mined Pi tokens are still locked or waiting for migration. This means there aren’t many tokens freely available for trading. If the supply remains limited while demand increases through new apps or business partnerships, the price could naturally climb higher over time.
Analyst Dr Altcoin said, “For Pi to be practical within the Pi Ecosystem, its price would need to reach at least $10.”
Geopolitical Factors Add Pressure
Part of the recent crypto market decline can also be linked to growing geopolitical tensions, particularly the conflict between Israel and Iran. The escalating situation, which has included military strikes and leadership losses, has injected uncertainty across global markets, including crypto.
Like other altcoins, Pi followed the broader market trend — but some community members have criticized the token for mirroring negative movements without benefiting from bullish ones.
Credit: Source link
