Over the past week, the value of Pi Network’s native token, called PI, hasn’t changed much. But an important detail might hint that its price could go up soon. While some people think this is a sign of hope, others believe it’s unlikely and criticize the Pi Network project.
What is Pi Network? Pi Network is a project trying to build a cryptocurrency that can be mined, or earned, using mobile phones without needing big computers. It’s still in development, and many details about it are unclear. Some people have criticized its progress over time.
PI Token’s Recent Price
Right now, the PI token is priced at about $0.20. This shows just a small 0.2% increase over the past week. But looking back to February this year, the price was much higher—around $3. This means today’s price is 93% lower compared to that time.
Why Could the Price Increase?
One possible good sign is how many PI tokens are being moved off cryptocurrency exchanges. Exchanges like Gate.io and Bitget let people buy and sell coins easily. When tokens are removed from these exchanges, it usually means owners are storing them themselves, a method called self-custody. This can reduce the number of coins available for quick selling, which lowers the pressure on the price to drop.
In just the last day, over 2.7 million PI coins were taken off exchanges. Right now, there are around 427.2 million PI tokens stored on exchanges. Most of these are on Gate.io, which holds more than half. Bitget, another platform, holds about 145.1 million tokens.
Concerns About Pi Network
Although some investors are hopeful that the PI token price could rise soon, others are more skeptical. Critics say the Pi Network team needs to fix many problems first.
Recurrent criticisms include:
- Restricted Transfers: The ability to move the tokens between wallets is limited.
- Unclear Tokenomics: Tokenomics is the system that explains how a cryptocurrency works—for example, how many tokens exist and their purpose. In Pi Network’s case, this is not well explained.
- Circulating Supply: Critics say the project hasn’t provided clear information about the total circulating supply, which refers to the total number of cryptocurrency tokens available to the public.
- Credibility Issues: Some people argue Pi Network needs to build more trust. They feel it’s been “almost ready” for many years but hasn’t shown significant real-world use outside of its internal platforms.
One user on social media (called X, previously Twitter) shared their thoughts, saying, “Adoption without trust isn’t decentralization—it’s just scale.” By decentralization, they mean spreading control evenly rather than relying on one central authority. They said the project lacks open access to liquidity, independent verification, and practical everyday use.
Earlier this month, this same user pointed out that Pi Network began as an exciting concept. However, it has become a long process of unclear goals, repeated delays, and promises of updates that are “coming soon.”
Conclusion
Some people see Pi Network as a project with potential, while others are losing patience. Whether the PI token’s value will rise or not depends on many factors, including how the team handles the criticisms and develops the project further. For now, reducing the number of PI tokens on exchanges is one sign of optimism, but the challenges surrounding credibility and practical use still remain.