It was assumed that the long -awaited Mainnet launch from PI Network to a new age for the project that society is driving. But just one month after the appearance of its open network, the PI code decreased by more than 30 % last week, as it decreased from the highest local level of about 3 dollars to less than one dollar. As of March 24, PI is traded at $ 0.93, as it has fallen over a quarter of its value in only 30 days.
The fall was sufficiently severe to take out PI out of the best 20 coins depending on the maximum market, which is a place for a short time during the noise cycle for the first time.
When the PI network finally moved from the Testnet phase attached on February 20, attention exploded.
The lack of lists of major exchanges such as Binance or Coinbase has led to a decline in credibility. Despite a large and vocal community, Binance did not include the distinctive symbol, describing the CEO of BYBIT as “a fraud”, and refused to support it. These developments were greatly affected by the feelings.
At one time, the mass that opened from the unique PI symbols has added a tremendous pressure. More than 13 million PI icons were opened daily in the first weeks of trading, which floods the market. While the lock cancellation rate is now expected to decrease to 3.8 million a day, a lot of early damage has already been exposed.
Pidaoswap partnership: hope or noise?
In an attempt to change the narration, the media linked to the PI announced a partnership with Pidaoswap, a central exchange that is completely governed by society. The DAO model corresponds to PI messages about decentralization and control of popular bases. This announcement sparked a 7 % recovery inside the day, but it did not reflect the broader direction.
PI icon is still one of the most monitored assets in space, thanks to the base of huge users and base marketing. However, the project still faces credibility challenges, an uncertain organizational position, and a long history of delay at all. If the DAO partnership and the reduction of the conquest fail to stimulate sustainable demand, PI may be struggled to restore its previous levels.
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