#ActiveUserImpact Limited Real-World Utility: At present, Pi Network's applications are mainly restricted to peer-to-peer transactions within its own ecosystem. The lack of broader use cases and partnerships has limited demand, negatively impacting the coin's value.

3. Decentralization Concerns: The network is still largely controlled by its developers, raising issues regarding transparency and genuine decentralization. This centralization can discourage potential investors and users, affecting market confidence.