Pi coin is currently down over 6%, trading at $0.74. In the days leading up to the consensus meeting, the Pi Network experienced a speculative rebound, with rumors suggesting a significant ecosystem announcement would be made on May 14, causing Pi coin's price to soar over 150% to $1.50. However, without any major updates being released, the token's value quickly reversed.
As of the time of writing this article, Pi has fallen over 70% from its peak. Daily trading volume has also decreased by over 44%, indicating weakened buying interest. Analysts warn that without significant catalysts, Pi could drop to a historical low of $0.40.
Even more frustrating for investors is that Pi Network Ventures announced the establishment of a $100 million investment program aimed at funding decentralized applications and ecosystem projects. While this was initially seen as a positive initiative, community confidence began to waver when the Pi Core team indicated that the fund could be suspended or canceled at any time.
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Cryptocurrency analyst Dr. Altcoin stated that the problem lies in the Pi core team's poor communication and repeated delays. 'The commitment to launch 100 DApps is not just a bonus but is crucial,' said Dr. Altcoin. 'Without real utility, Pi risks becoming just another overhyped token.'
He emphasized the distinction between speculative 'meme coins' and functional ecosystems, urging the Pi team to shift from promotion to performance. The analyst estimates that Pi Network may need another 2.5 to 5 years to fully achieve its ecosystem goals. While he remains optimistic about the project's long-term success, he stressed that this will not be realized according to the timeline initially expected by the community.