Pi Coin, the cryptocurrency associated with the Pi Network, officially launched its mainnet on February 20, 2025. Following this launch, the coin experienced a significant decline, with its value dropping over 65% within 24 hours, from a peak of $1.97 to approximately $0.737. citeturn0search0

Several factors contributed to this sharp decline:

Early Profit-Taking: Many early miners sold off their holdings to realize profits, increasing selling pressure on the market. citeturn0search4

Exchange Listings: While Pi Coin was listed on exchanges like OKX, Bitget, and Gate.io, it was not yet available on major platforms such as Binance. The absence from these larger exchanges limited its exposure and liquidity. citeturn0search4

Market Uncertainty: Concerns about Pi Coin's real-world utility and the project's long-term viability contributed to market skepticism, leading to a decline in investor confidence. citeturn0search1

Despite the initial price drop, analysts suggest that as selling pressure decreases and the project addresses these concerns, Pi Coin may experience a price recovery. citeturn0search1

For those interested in Pi Coin, it's advisable to monitor the project's developments and market trends closely, as the cryptocurrency market is highly volatile and subject to rapid changes.

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