Pi Network Loses Bullish Momentum: Is the Journey to $3 Real or Just a Dream?
In the context of the volatile cryptocurrency market, Pi Network (PI), a digital currency that was once expected to become a symbol of “revolutionizing decentralized mining”, continues to stir up controversy after failing to maintain a price above $1. Although it reached this level in mid-May 2025 and held steady for several trading sessions, the uncertainties surrounding the development team’s announcement about the Consensus 2025 event have caused market sentiment to change rapidly.
Community Divided Over Slow Growth of Pi Ecosystem
Many veteran members of the Pi community known as “Pioneers” have begun to voice their skepticism about the project’s progress. In particular, the lack of real-world dApps after nearly 6 years of development has left a significant portion of investors feeling left out.
Although Pi Network has announced a $100 million Pi Ventures Fund to boost dApp development, an internal survey found that nearly 61% of Pioneers were disappointed, clearly reflecting the pressure the core team is facing. On the contrary, about 29% of participants remained confident and expressed satisfaction, showing that a loyal class of investors is still present in the ecosystem.
Pi Coin withdraws from Bitcoin orbit: Autonomy or suicide?
One thing worth noting is that Pi is increasingly losing correlation with Bitcoin (BTC), which is considered unusual in the altcoin world. Since the beginning of last week, PI has plummeted more than 35%, despite BTC maintaining a stable sideways trend.
The lack of official listings on major exchanges such as Binance or HTX continues to be a bottleneck hindering the flow of money into Pi. Despite positive signals from these platforms, there has been no clear progress in the end, making investor sentiment even more negative. The Chaikin Money Flow (CMF) indicator is negative, signaling that smart money is withdrawing from Pi, especially from institutional investors or crypto "whales".
Is the $3 dream still possible in 2025?
Currently, Pi is trading around $0.72, just 4 cents below the lower boundary of the Bollinger Band, indicating that the price is oversold. Meanwhile, the Stochastic RSI indicator reveals that Pi is in a slightly overbought zone, creating a technical turbulence zone, increasing the risk of a further correction if there is no new catalyst.
The $3 target appeared in predictions in late February 2025, when the mainnet launch event sparked a strong wave of FOMO. But at that time, the Pi Network capitalization peaked at $13.5 billion. Currently, Pi's market value is only around $5.26 billion, showing that nearly 60% of capital has evaporated in less than 3 months.
Conclusion: Faint hope in great skepticism
Can Pi recover and move towards the $3 target? That depends entirely on whether the development team can regain confidence from the community through specific actions, such as listing on major exchanges, launching real dApps, and improving liquidity in the market.
Without significant change, Pi will likely continue to drift between expectation and doubt a symbol of unfulfilled promise in the altcoin world.