The price of Pi Network saw a sharp surge following its much-anticipated mainnet launch on Thursday, only to quickly erase those gains.
By Friday morning, Pi was trading at $0.7290, significantly lower than its peak of $2 on the day of the launch. This raises an important question—what does the future hold for Pi Network’s price in the coming years?
Pi Network, one of the most widely recognized projects in the crypto space, officially launched its mainnet after six years of development. During this time, the network remained in a testing phase where pioneers mined millions of tokens. For over three years, it operated within an enclosed mainnet, limiting access and preventing token withdrawals.
The recent mainnet launch was a watershed moment for Pi Network, as it finally allowed pioneers to cash out their holdings while dedicated supporters chose to retain their tokens. The launch received considerable attention, leading to multiple cryptocurrency exchanges listing Pi Network’s token. According to CoinMarketCap, the highest trading volumes occurred on Gate.io, followed by Bitget and OKX. However, leading American exchanges such as Coinbase, Gemini, and Kraken have yet to list the token. Binance, following an overwhelming user vote, is set to list Pi Network next week, which could influence its future price trajectory.
As of now, Pi Network ranks among the largest cryptocurrencies by market capitalization, boasting a value exceeding $4.2 billion and a fully diluted valuation (FDV) of $66 billion. If realized, this FDV would make Pi Network the sixth-largest cryptocurrency in the market.
The sudden drop in Pi Network’s price following the mainnet launch can be attributed to three key factors. First, a significant number of pioneers opted to sell their tokens as soon as they were able, mirroring patterns seen in previous airdrops. This has been a common trend among tap-to-earn tokens such as Hamster Kombat, Tapswap, and Catizen.
Second, past trends indicate that many pioneers anticipated a decline based on the performance of other newly launched cryptocurrencies. Historically, play-to-earn tokens like Axie Infinity (AXS), Decentraland (MANA), and Gala Games (GALA) have faced steep downturns. Likewise, tap-to-earn projects such as Hamster Kombat, Tapswap, and Notcoin, as well as move-to-earn tokens like Sweat Economy and StepN, have also suffered significant price declines.
Third, the broader crypto market downturn has further pressured Pi Network’s price. The crypto fear and greed index has shifted towards the fear zone, and given that Pi Network launched in the midst of this bear market, it was highly susceptible to a price dip.
Looking ahead to 2025 and 2030, Pi Network’s price trajectory remains a subject of debate. One school of thought argues that Pi Network could become the next Bitcoin due to its widespread adoption, predicting a potential surge from its current $0.6693 price to over $100,000. Conversely, skeptics contend that Pi Network’s value will decline over time, especially now that mining incentives have ceased.
Given historical trends, the outlook for Pi Network between 2025 and 2030 appears bearish. While the Pi Network team asserts that continued ecosystem growth will sustain the token’s value, there is a significant risk that this expansion may not materialize as anticipated. This aligns with previous forecasts suggesting that Pi Network’s price will face substantial challenges moving forward.