The Truth Behind the Pi Coin Shock: Price Crash, Token Locked, Bleak Future?

Pi Coin has fallen 12% today, down to $0.5525 after Israel's airstrike on Iran last night. However, the issue with PI does not stop there, as this altcoin has also fallen 16% in two weeks and 53% in a month, while decreasing 81.5% since reaching an ATH of $2.99 at the end of February. In the past few weeks, this coin has been affected more than other altcoins for many reasons, but one of the most damaging reasons is that many holders of PI continue to report issues when requesting their tokens. This ongoing concern continues to undermine confidence in PI, and when combined with the lack of listings on major exchanges, it has the potential to indicate a disappointing long-term price prediction for Pi Coin. Price Prediction for Pi Coin: Unsuccessful KYC? Balance Being Broken? Why This Chaos Could Cause a Shock to PI Supply Although the migration to the mainnet was completed in February and March, Pi Network continues to face issues as users still cannot access their PI tokens, even after completing the necessary KYC steps.

This is an issue that has been occurring since the migration process began in February, when the Pi Core Team received angry feedback for almost every message and update they posted on X. Pi Network has addressed these issues in various ways, including posting advice on the correct wallet addresses to use when transferring PI, but problems and complaints continue. Recent days have also seen a large PI holder - possibly related to the Pi Foundation - withdrawing millions of tokens from exchanges, raising concerns about supply shortages. And if we look at the PI chart today, we see that it has fallen sharply and may have hit the bottom, with the RSI index ( purple) dropping to 20 this morning, a strong oversold position.

This means that the price of Pi Coin will soon experience a strong recovery, although critics argue that the price has entered a downward spiral and may never fully recover. The trading volume of this coin had been below 100 million dollars for a week prior to today's sell-off, indicating a concerning lack of interest in this coin. And due to users continuing to report issues with moving and requesting full tokens, this cryptocurrency may face difficulties attracting listings on major exchanges such as Binance, Coinbase, which could significantly increase the price. Therefore, we can see the price fall below $0.50 in the coming weeks, although the overall market recovery and good news about Pi Network may help the price return to $1 by the end of summer.