#PiNetwork @Sui
Pi Network (PI) Price Prediction & Analysis: Community Calls for New Leadership as Token Slides Further
Pi Network's cryptocurrency falls below $0.70 amid community backlash over communication issues, declining mining rates, and controversial KYC requirements.
Pi Coin price has dropped by approximately 4%, falling below $0.70
Community members are frustrated with Pi Core Team’s lack of transparent communication
Pi Network’s base mining rate decreased by 1.18% to 0.0029030 π per hour
Despite PiFest announcement highlighting participation, trading activity in the ecosystem is at its lowest
Technical analysis shows Pi forming a falling wedge pattern with next crucial support at $0.60
Pi Network’s native cryptocurrency PI continues to face selling pressure as community backlash grows over perceived lack of transparency from the project’s leadership team. The token recently slipped below the $0.70 mark amid declining trading volumes and growing skepticism from community members.
The PI token has experienced a 20% price decline over the past seven days. This downward trend comes despite the Pi Core Team’s announcement about record participation in their inaugural PiFest on the Open Network.
Network (PI) Price
According to the team’s announcement, over 125,000 registered sellers participated in the event. This included more than 58,000 active sellers and 1.8 million Pioneers utilizing Map of Pi.
However, community reaction to this news has been largely negative. One community member known as Dr. Altcoin noted that trading activity in the ecosystem has reached its lowest point since PiFest began.
“The only trade was selling Pi for Cash,”
Communication Challenges
Other community members have criticized the Pi Core Team’s communication approach. Critics argue that monthly updates are too predictable and insufficient for maintaining an engaged community.
Some members are now calling for a more transparent communication strategy. There are even suggestions for new leadership with deeper cryptocurrency expertise.