Pi Coin Price Prediction: Can Pi Recover Strongly After Dropping Over 90%?

The Truth Behind Pi Coin’s Crash

Pi Coin (Pi Network) was once considered a benchmark for large-scale, accessible crypto mining in the blockchain space. Driven by its action-based mining model and a vast global community, Pi surged, reaching a peak of $3. Now, its price has fallen to about $0.20 and its market cap has shrunk dramatically, raising investor concerns about whether the project has failed or is misunderstood by the market. In reality, Pi’s depressed price may mark a new beginning, not the end. With the rollout of its DeFi ecosystem and mainnet upgrades, Pi could be setting the stage for its next breakout.

Three Critical Factors Driving Pi Coin’s Price Down

Pi’s sharp decline isn’t accidental—it stems from intertwined structural challenges. These issues are not fatal but represent typical growing pains.

1. Slow Progress Undermines Community Confidence
   The slow transition from testnet to mainnet has lowered market expectations. What was once expected to launch quickly is now advancing cautiously, gradually cooling community enthusiasm.
2. Lack of Mainnet Applications and an Underdeveloped Ecosystem
   Pi’s mainnet currently lacks substantial applications and active dApps. Low on-chain transaction volumes and limited real-world utility make Pi look more speculative than practical. By contrast, Ethereum and Solana have seen explosive growth in DeFi and NFTs, attracting substantial capital.
3. Continuous token unlocking creates sustained sell pressure
   As the mainnet launches, increasing numbers of Pi tokens enter circulation, causing oversupply. Although over 15 million users have completed migration, weak trading activity intensifies downward price pressure.

Protocol 23 Upgrade

The mainnet upgrade may soon end Pi’s quiet phase with the mainnet upgrade to Protocol 23, a pivotal milestone for ecosystem renewal. Key changes slated for this upgrade include:

• Launch of Pi DEX and automated market maker (AMM) mechanisms, enabling direct on-chain trading and liquidity.
• Deployment of DeFi applications and hackathon events to spur developer engagement and innovation.
• Accelerated KYC completions and mainnet migrations to rebuild community trust.

Once Pi’s mainnet goes live and links to global markets, its true value may be repriced. Analysts forecast that, if the upgrade succeeds, Pi Coin could recover from $0.26 to above $3, potentially reaching the $10 zone.

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Conclusion

Pi Coin’s current low valuation is both a risk and an opportunity. Unlike meme coins that thrive on hype, Pi is built for the long term, supported by its technology and community. If Protocol 23 launches successfully and generates real demand, Pi Coin could experience a structural rally within two months, with prices potentially increasing by 100% to 300%.