Pi Network’s price drop and migration issues have created uncertainty, but some say $0.64 could be a buying opportunity in the crypto consolidation. As at the time of this writing, Pi Coin trades at $0.645, a $0.73% drop in the past 24hrs, following an 11% drop over the past week. The technicals are bearish and mainnet migration delays are testing the patience of its user base. However, some crypto researchers think the fundamentals and long term positioning could still be bullish if milestones are met.
Stuck in the Red but Key Levels Holding
Pi Coin is hovering around $0.6459 support after a steady decline that has seen the token fall below its 50 day EMA. Resistance is at $0.70 and $0.80 and with the RSI at 40, Pi is close to oversold territory which could trigger buying if sentiment improves.
However, without a reversal or meaningful news, the market is in limbo. Traders watching the charts are cautious, especially since the coin is still far from its earlier highs of over $3 during the speculative peak.
The mainnet migration delays are a recurring pain point. Reports say many users are still unable to access their tokens fully due to slow KYC approval and limited wallet transfers. These procedural hiccups have slowed down adoption and weigh heavily on short-term sentiment.
Pi Network Price
Analysts See a Bargain Zone
While bears are circling, not everyone is convinced the Pi story is over. Crypto researcher Kim Wong thinks $0.64 is a bargain zone. Wong notes that Pi is still top 30 globally by market cap despite the sharp decline in active community participation. He estimates 80% of early adopters have left the ecosystem but the remaining user base could benefit as infrastructure matures.
Wong says as more users complete KYC and migrate their tokens to personal wallets, the effective circulating supply will start to shrink. This is expected to stabilize the price and increase scarcity, a dynamic often seen during early stages of token network development.
What Will Trigger the Next Rally?
The Pi Network team just announced a $100 million fund to accelerate DApp development on mainnet. This could be the foundation to bring real utility to the network and attract developers if deployed transparently and on time.
Analysts see three catalysts that could change Pi’s narrative: new DApp onboarding, mainnet migrations and listings on Binance or Coinbase. If two of these happen in the next quarters, Pi could see demand pick up and break through $0.70 and $0.80.
But timing is everything. The project must address the persistent criticism around transparency and governance. Without clear, auditable updates and a streamlined migration experience, even optimistic investors will start to look elsewhere.
Transparency Concerns Continue to Haunt Investor Confidence
Despite its early success in onboarding users and gamifying crypto mining through mobile devices, Pi Network has struggled with clarity. Questions around token distribution, validator incentives and internal governance remain unanswered.
Pi Network Price
The lack of third party verification for wallet data or circulating supply figures has further eroded credibility. These structural concerns have made some investors view Pi as high risk, especially when compared to competing L1 ecosystems that have already delivered mainnets and decentralized economies.
Until Pi can provide verifiable metrics and a working infrastructure, skeptics might not be convinced and whales might stay on the sidelines.
Conclusion: Betting on $0.64 is all About Belief in Delivery
The current Pi Network price is a mix of fear and hope. With the token at oversold levels and sentiment subdued, buyers with conviction may see $0.64 as an asymmetric risk-reward opportunity.
The conviction is more than just technical. Pi’s dev team must speed up migration, roll out real use cases, and deliver on the promises made during its years-long testnet phase. If it can do that, this period of stagnation will look like accumulation in the future. Until then, the market waits and watches.
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FAQs
Why has Pi Network price dropped recently?
Pi Coin has dropped due to delays in user migration to the mainnet, no exchange listings, and overall bearish technicals.
What is the support and resistance for Pi Coin right now?
Support is at $0.6494, resistance at $0.70 and $0.80. RSI is near 40, the token is oversold.
Why do some analysts call $0.64 a bargain?
Analysts like Kim Wong believe that as more users complete KYC and Pi’s ecosystem matures, supply will tighten and prices will go up from here.
What can boost Pi’s price in the future?
Key catalysts are mainnet migration, new DApps launching on the platform and listings on Binance or Coinbase.
Glossary
Mainnet Migration: Moving digital assets from a testnet or app environment to a fully functional blockchain network.
KYC (Know Your Customer): A compliance process to verify user identity before accessing financial services.
RSI (Relative Strength Index): A technical indicator to measure recent price changes to determine overbought or oversold conditions.
Venture Fund: A pool of capital to invest in startups or new projects—in this case, to grow Pi Network’s ecosystem.
DApps (Decentralized Applications): Blockchain-based applications that run without central control, often using smart contracts.
Sources
CoinMarketCap
Kim Wong Analysis
CoinPedia
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