TLDR:
- Pi Network community demands more transparency to avoid issues similar to Mantra (OM)
- Lack of transparency has prevented listings on major exchanges like Binance and Coinbase
- Pi Coin has entered a demand zone after dropping 17% to $0.611
- Concerns about token distribution with team holding over 67 billion PI tokens (more than half of max supply)
- Technical analysis suggests possible 55% crash unless supply strategy changes
Pi Network’s cryptocurrency, Pi Coin (PI), is facing a critical moment as community members call for greater transparency to avoid following the same downward path as Mantra (OM). The token’s price has fallen significantly amid growing concerns about its development progress and token distribution.
The Pi Coin price dropped 17% to $0.611 on April 16, according to recent market data. Despite this drop, the token remains about 60% higher than its levels from a few weeks ago.
Community members, including influential voice Dr Altcoin, have spoken out about the need for transparency. In a post on X (formerly Twitter), Dr Altcoin stated: “It serves as a HUGE lesson for the Pi Core Team as we transition from the Open Network to the Open Mainnet… One thing is clear about the PTC, they are not transparent.”
The $OM incident is a wake-up call for the entire crypto industry—proof that stricter regulations are urgently needed. It also serves as a HUGE lesson for the Pi Core Team as we transition from the Open Network to the Open Mainnet. @PiCoreTeam @nkokkalis @Chengdiao pic.twitter.com/zBN4LSsONN
— Dr Altcoin (@Dr_Picoin) April 14, 2025
These concerns have emerged following observations that there have been no major developments in the Pi Network ecosystem since the Pi Open mainnet launch.
Token Distribution Concerns
One of the main issues raised by the community relates to token distribution. Data from Pi Explorer reveals that the top three wallets belong to the Pi Coin team and hold more than 67 billion PI tokens, which represents over half of the maximum supply of 100 billion.
This concentration of tokens has raised questions about the project’s decentralization, a key factor that major exchanges consider before listing new cryptocurrencies.
The lack of transparency has created a barrier to listings on top exchanges like Binance and Coinbase. These platforms typically require access to an auditable mainnet to assess various factors including liquidity and decentralization before adding a token.
Technical Analysis and Price Predictions
After the recent price drop, Pi Coin has entered what analysts describe as a major demand zone. Historically, each drop to this level has been followed by increased buying volumes, which could potentially lead to a bullish trend if buyers step in.
The Relative Strength Index (RSI) has plunged to an oversold level of 28, which sometimes precedes a reversal. The last time Pi Network was this oversold, the price reportedly bounced by 99% within hours.
However, some experts warn that Pi Network price could crash by as much as 55% in the coming weeks due to two key factors: the rising supply of tokens on exchanges and privacy concerns.
Token Supply Challenges
According to the project’s tokenomics, millions of Pi tokens will continue to be unlocked in the foreseeable future. Specifically, over 1.5 billion tokens are scheduled for release this year alone.
Basic economic principles suggest that when supply increases without a corresponding rise in demand, prices typically fall. For Pi Network, the supply comes from both token unlocks and pioneers who have spent over six years mining the cryptocurrency.
Meanwhile, demand remains constrained because the token is not available on major exchanges where most crypto investors trade.
One potential solution suggested by analysts is introducing a token burning mechanism, where coins would be moved to an inaccessible wallet to reduce the circulating supply.
If the Pi Network team addresses these transparency and supply concerns, some community members believe the price could potentially reach a new record high of $3. Exchange listings would likely accelerate any upward trend.
The four-hour price chart shows that the recent Pi coin surge occurred after forming a falling wedge pattern over the past two months. However, the coin has now formed a rising wedge pattern, and the current drop happened as these two lines approached their convergence point.
Without changes to its current trajectory, some analysts predict the coin could fall to a support level at $0.3945, its lowest point this month.
For Pi Network to avoid the fate of Mantra, which saw a 90% price crash in just 24 hours, the team will need to address community concerns about transparency, token distribution, and supply management in the coming weeks.
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