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Vignesh S G
Vignesh S G
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- Feb 21, 2025 12:32 UTC
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Pi Network Price Plunges 50% After Mainnet Launch – What Went Wrong?
Pi Network's mainnet launch saw its price plummet by nearly 50% in 24 hours, despite prior IOU prices as high as $183.
Despite a large user base and listings on nine exchanges, Pi's current price of $0.6629 and massive fully diluted valuation make a $10 price target.
A potential Binance listing could boost Pi's price to around $2.6, according to experts.
Pi Network recently launched its mainnet, sparking excitement across the community. Many believed this would be a game-changing moment, with some predicting PI’s price would skyrocket to $300. But reality had other plans. Instead of soaring, PI’s price has taken a steep dive, crashing 49.8% in just the last 24 hours.
So, what went wrong? Was the hype too big, or is this just the usual market turbulence? Let’s break it down.
Why Has the Pi Price Dropped After the Mainnet Lunch?
It’s normal for tokens to go through price swings in the early days of a mainnet launch.
Before the launch, PI’s IOU price hit a high of $183.49, and some community members believed it would climb even higher to $300. However, those hopes have not played out in reality.
What Makes Pi Network Stand Out?
Despite the price drop, Pi Network has some strong fundamentals:
- Large User Base: Over 10 million people are part of the Pi Network community.
- Multiple Exchange Listings: PI is already available on nine major exchanges, including MEXC, OKX, Open Network, Bitget, CoinW, Gate.io, GCB Exchange, DigiFinex, and LBank.
- Supportive Market Conditions: The mainnet launched at a time when the U.S. government is showing growing interest in supporting the crypto industry.
Since Donald Trump’s election win, the U.S. has taken a more pro-crypto stance. His administration has appointed crypto-friendly leaders to key regulatory bodies like the SEC and CFTC. There is also a special crypto task force under the SEC working on clearer regulations for digital assets.
Can PI Really Reach $10?
Right now, only 10% of Pi Network’s total supply has been released. The current price of PI is $0.6629, and the total supply is 100 billion tokens. This puts its fully diluted valuation (FDV) at about $6.39 billion.
For PI to hit $10, its FDV would need to skyrocket to $1 trillion—something experts say is highly unlikely.
Will Binance List Pi?
Recently, Binance launched a community vote to decide whether PI should be listed on the exchange. So far, about 85% of voters are in favor.
If Binance 
Binance - [email protected] Centralised ExchangeCryptocurrenciesTrading AppCryptocurrency investment 
lists PI, analysts predict the token’s price could climb to at least $2.60. Whether that’s enough to reverse its current downtrend remains to be seen.
The hype wave has passed, and reality has set in—where Pi Network goes from here is what matters now.
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FAQs
Unlikely. At $10, PI’s market cap would exceed $1 trillion, which analysts deem unrealistic given current supply and valuation.
Binance ran a community vote where 85% supported listing PI. If listed, analysts predict a possible price increase to around $2.6.
Yes 
No 
