Why is the price of Pi Network still languishing?

(Dan Tri Newspaper) - According to data from CoinMarketCap, Pi Network was trading around $0.64 on the evening of June 2nd. The current price of Pi has decreased by nearly 60% compared to mid-May.

Since mid-May, the PiCoreTeam has continuously released a series of announcements regarding the development of the Pi Network ecosystem. These moves were initially expected to drive the project forward, thereby causing the price of Pi Network to increase.

Pi Network price movements over the past month (Screenshot).

However, the user reaction was completely the opposite. According to Crypto News , the PiCoreTeam failed to meet the expectations of the Pi Network community.

Most users are waiting for the Pi Network project to be listed on major exchanges like Coinbase, Binance, or HTX, which could positively impact the value of Pi. Another group of users are hoping the project team will announce a "burn" of the Pi Network supply, aiming to reduce supply, create scarcity, and increase the project's value.

However, the information released by the PiCoreTeam was completely unrelated to what the community was expecting. This very factor disappointed many people, leading to negative reactions and negatively impacting the price of Pi Network.

Meanwhile, data from PiScan indicates that the project will unlock a massive 246 million tokens onto exchanges in the next 30 days. Notably, nearly 14 million Pi Network tokens will be listed on June 11th.

A sudden surge in supply could create significant selling pressure. If demand is insufficient to absorb this new supply, the price of Pi Network could continue to fall sharply. This is also the reason why the price of Pi Network has remained stagnant recently.

Experts believe that the Pi Network coin currently lacks intrinsic value (Image: The Crypto).

Furthermore, experts also believe that the Pi Network coin currently lacks significant intrinsic value. Pi is considered to have no specific applications and no solid infrastructure.

The Pi Network team only advertised Pi as a means of payment. This resulted in the project not creating much real value and functioning similarly to the numerous memecoins (joke cryptocurrencies) on the market.

In March, the Hanoi City Police issued a warning to the public about investing in the Pi Network cryptocurrency. Authorities stated that, according to Vietnamese law, virtual currencies in general, and Pi in particular, are not yet considered assets.

According to the Hanoi City Police, the Pi cryptocurrency has no practical applications. Its current value is self-determined and has led many people to misunderstand the true value of this virtual currency.

Source: https://dantri.com.vn/cong-nghe/vi-sao-gia-pi-network-van-mai-ngup-lan-20250602234151402.htm