The reason Pi reached $1 remains unclear. The following explanation provides essential details on this development.

Pi reached the $1 level after the project encountered months of unknown market situations which represents a significant achievement for its original supporters and dedicated users. The key factors behind this development include:

1. Ecosystem Confidence Growth: The increasing number of Pi-based apps alongside the ecosystem development causes users and developers to gain confidence. The growing real-world application of Pi serves to strengthen its perceived value.

2. Mainnet Launch Anticipation: The much-awaited open mainnet launch has once again captured public attention. The Pi Core Team communication about development progress has caused demand and activity to increase which moves the price higher.

3. Scarcity & Community Strength: The gradual removal of inactive accounts through KYC processes has maintained a limited circulating supply which makes Pi appear scarce. The extensive global Pi community proves to be the project's most valuable asset.

4. Market Sentiment Shift: The increased interest in alternative Layer 1 tokens combined with fair-launch projects has helped boost Pi's visibility in the market.

Pi's achievement of reaching $1 stands as a psychological milestone that shows the slow integration of the cryptocurrency into Web3 systems.