Although down 54%, the price prediction for Pi Network remains surprisingly optimistic. Can PI challenge the market's skepticism and recover?
The Price of Pi Network is Affected
Pi Network (PI) recorded a 54% decline over the past week, marking the largest weekly drop among the top 100 cryptocurrencies.
This decline follows a short-term price spike when the Pi token rose from $0.78 on May 11 to a peak of $1.61 on May 12, a 106% increase within 24 hours.
This move was largely driven by the anticipation of Pi Network's upcoming appearance at Consensus 2025 and early hints of a major ecosystem update.
However, the rapid growth momentum has weakened. Following the announcement of a $100 million ecosystem fund on May 14-15, sentiment shifted. This announcement, while quite large on paper, was widely understood to be another delay in accessing the actual network rather than a clear turning point.
As a result, the price fell to $0.68 on May 18, corresponding to a nearly 58% drop from the peak on May 12. As of this writing on May 19, PI is trading around $0.71, reflecting a modest recovery of 4.4% from the recent low.
Additionally, the lack of exchange listings and ongoing KYC restrictions continue to limit trading activity, making the price susceptible to volatility from perception.
Now let's take a closer look at the current ecosystem of Pi Network, recent technical issues and structure, as well as the price that can be expected in the coming days.
What Really Happened with Pi Network?
In the past month, Pi Network has made a series of announcements that are expected to mark a turning point for the project. Instead, they raised more questions than answers.
The core team had previously hinted at a significant ecosystem milestone expected to occur on May 14, creating anticipation that the long-awaited decentralized applications would finally become a reality.
Several developments have occurred. In early May, Pi Network completed the shutdown of its last remaining central node as part of the Horizon upgrade process. This is seen as a step towards decentralization, consistent with previous statements regarding infrastructure preparation for the network's complete autonomy.
The team also revealed plans to open-source its database, something that community members have requested for years as a move towards transparency.
In terms of accessibility, Pi has partnered with Banxa to integrate fiat payment gateways into the app, allowing users to purchase PI using traditional payment methods like credit cards and Apple Pay or Google Pay.
Notably, this service was available even before users completed the know-your-customer process in the app. While this improves the entry point to the ecosystem, it does not equate to actual utility for the token itself.
The significant announcement on May 14 was the launch of Pi Network Ventures, a $100 million investment fund aimed at supporting ecosystem development.
Additionally, the team introduced the concept of a 'non-ownership' Pi Foundation, aimed at providing long-term governance for the network.
While both initiatives are structurally significant, neither includes a timeline for the launch of widely usable applications. For users who have mined Pi for years with expectations of real-world use, this is yet another delay.
This is particularly relevant in the context of previous guidance. Back in February, the team suggested that more than 100 decentralized applications would accompany the launch of the Open Network.
As of now, aside from testing events like Pi domain auctions or small-scale shopping festivals, the actual presence of functioning applications is still limited. There are no clear signs of when that broader application ecosystem will come online.
Disappointment followed the appearance of Pi at the Consensus 2025 conference. In the keynote speech, founder Dr. Nicolas Kokkalis discussed the long-term vision related to artificial intelligence, digital identity, and decentralized finance.
However, he did not provide a roadmap or specific dates, leaving many attendees and community observers uncertain about the next steps.
Allegations, Confusion, and Trust Gap
The past week not only saw the price of Pi Network drop sharply but also witnessed a significant collapse in trust within the user community. As the price adjusted, community sentiment on platforms like Discord and X turned publicly critical.
An increasing number of long-time Pi users, known as 'Pioneers,' are beginning to voice concerns that the project is being deliberately delayed, with very little effort to provide actual utility or accessibility.
These disappointments are compounded by new allegations. On May 17, a user known as Dr. Picoin, a community analyst focused on Pi, posted a screenshot of the blockchain claiming that a wallet associated with the core Pi team moved 12 million PI tokens around the time this token reached its recent peak.
He suggests that this may reflect a form of internal token sale while the community is focused on the project's announcements.
This implies that core contributors may have sold stakes at high prices before the general community could react.
Although the complaints remain unverified, this moment has raised concerns. The wallet in question, tagged GABT7EMP, has previously been identified by some in the community as a distribution wallet or standard moving wallet used to transfer balances from the testnet to the mainnet.
Some Pi supporters rebutted, claiming that these allegations are based on a misunderstanding of blockchain data.
Dr. Picoin continues to issue a longer statement, outlining a series of complaints from the community's perspective. He highlights delays in core features, such as unfulfilled referral-based rewards, inconsistencies in KYC implementation since 2021, and multiple postponements of the Open Network launch, which finally took place in February 2025.
According to him, the $100 million Pi Ventures fund is currently being built as a means to develop the 100 DApps that have been promised for years, raising questions about the use of previous hackathons and advertising revenue.
Others in the community raised issues around censorship. In one case, a user claimed to have been banned from the Pi community channel after asking why wallet mapping and exchange access were restricted in mainland China.
So far, the Pi Core Team has yet to provide an official response to the allegations or clarify the disputed wallet activity. Nothing has been confirmed or independently verified, and all interpretations remain unproven claims at this stage.
Price Prediction for Pi Network
Following the recent correction, Pi is trading at around $0.71. The question for many holders now is whether this price level can recover, and if so, how much and how quickly.
In the short term, CoinCodex estimates that the price could rise to $0.947 in the next five days, marking a 33.4% increase from the current level.
Furthermore, the 1-month forecast indicates a target of $2.38, a 235% increase from the current price. The 3-month forecast is slightly higher at $2.51, representing a potential increase of 253.5% from $0.71.
CoinCodex's long-term outlook for 2025 and 2026 shows similar predictions. The platform places the potential trading range for Pi between $0.728 and $3.43 for both years. If PI reaches $3.43, this would represent a 382% increase from the current value.
However, it is important to note that these ranges remain speculative and depend heavily on the network's utility progress, exchange listings, and user adoption levels.
DigitalCoinPrice provides a more cautious forecast. For 2025, they predict an average price of Pi at $1.44, with a potential peak of $1.56, an increase of about 119.7% from the current level.
By 2026, its estimated maximum is $1.84, an increase of 159% from the current level. The platform is expected to continue growing until 2030, with Pi potentially reaching $3.90 by the end of this decade.
Despite these optimistic forecasts, none of the models account for regulatory challenges, exchange restrictions, or unverified claims that could impact investor confidence.
Pi Network still lacks a fully operational trading ecosystem. Until that changes, market accessibility and actual value remain limited, making any forecasts highly uncertain.
As with any emerging cryptocurrency, caution is essential. Pi Network still has to prove its long-term viability, and price predictions for Pi Network should not be the basis for investment decisions. Never invest more than you can afford to lose.