Since mid-May, the PiCoreTeam has been continuously releasing a series of information about the development of the Pi Network ecosystem. These moves were initially expected to become a driving force for the project, thereby causing the Pi Network price to grow.
Pi Network price movement over the past month (Screenshot).
However, the user reaction was completely opposite. According to Crypto News , the PiCoreTeam team did not meet the expectations of the Pi Network community.
Most users are waiting for the Pi Network project to be listed on major exchanges such as Coinbase, Binance or HTX, which could have a positive impact on the value of Pi. Another group of users are expecting the project team to announce a "burn" of Pi Network's supply, to reduce supply, create scarcity and increase the value of the project.
However, the information that the PiCoreTeam team provided was completely unrelated to what the community was waiting for. This factor disappointed many people, causing mixed reactions and negatively affecting the price of Pi Network.
Meanwhile, data from PiScan shows that the project will unlock a whopping 246 million tokens on the exchange in the next 30 days. Notably, nearly 14 million Pi Network coins will be listed on the exchange on June 11.
The sudden increase in supply can create strong selling pressure. In case the buying demand is not enough to absorb the new supply, the price of Pi Network may continue to fall sharply. This is also the reason why the price of Pi Network has been "sinking" in the past time.
Experts say that Pi Network coin currently does not have much intrinsic value (Photo: The Crypto).
Not stopping there, experts also commented that Pi Network coin currently does not have much intrinsic value. Pi coin is assessed to have no specific applications and does not have a solid infrastructure.
The Pi Network team only advertises Pi as a means of payment. This makes the project not create much real value and just act like a series of memecoins (joke cryptocurrencies) on the market.
In March, Hanoi Police issued a warning to people about investing in Pi Network cryptocurrency. Authorities said that according to Vietnamese law, virtual currencies in general and Pi coins in particular are not considered assets.
According to Hanoi City Police, Pi has no practical application. Its current value is self-determined and many people are confused about 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
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