Pi Network Price Prediction: Pi coin holders consider jumping ship, is it no longer hopeful to rise above 1 dollar this year?

Pi Network (PI) has followed Bitcoin and the market to a fall, currently reporting at 0.4434 USD in the Asian early session today (21). Analysis points out that a whale wallet "ODM," which is suspected to be linked to the Pi core team, may be the largest internal holding to date, but Pi coin holders seem to be considering switching to other promising projects.

The Whale Drama and Price Outlook of Pi Network

Despite the continuous growth in on-chain transaction volume, the price trend has stagnated. The daily trading volume of PI coin remains strong at 79 million USD. The market capitalization of 3.45 billion USD stands in stark contrast to the fully diluted valuation of 44.9 billion USD, highlighting the cautious sentiment among investors.

The gap between the circulating supply (7.69 billion PI coins) and the maximum supply (10 billion PI coins) highlights the difficult competition for scarcity and price appreciation of PI coins. Furthermore, the transfer of 1.56 million PI coins from the "ODM" Wallet may be the largest internal holding increase to date, indicating that the PI core team is confident in supply management or has strategic capabilities.

(Source: Trading View)

From a fundamental perspective, the Pi Network ecosystem has over 55 million users and features a mobile-first dApp browser, driving real-world use cases. However, critics point out that the Pi Network ecosystem suffers from centralized governance and unverified tokenomics.

Technical indicators show that the Relative Strength Index (RSI) is approaching oversold levels, suggesting a potential dead cat bounce. However, without a real liquidity venue, any rebound above $0.60 may be hard to sustain.

As Pi Network struggles with supply issues, Remittix (RTX) has made breakthroughs in the global PayFi space, boasting clear utility and a booming presale, including its multinational practices, deflationary tokenomics, multi-asset support, presale appeal, as well as security and privacy.

The demo version of Remittix and the Q3 Beta Wallet promise to provide instant foreign exchange conversion and global bank deposit features, while the functions of Pi Network are still in the preliminary stages.

The ability of PI coin to reach the $1 turning point depends on significant liquidity events or destruction mechanisms, both of which are uncertain in timing. For investors weighing the uncertainties of PI coin price predictions, it seems that switching to projects with potential could be an option to consider.