Can Pi Coin Really Reach $5? The Truth Behind the Hype and Manipulation

There has been a lot of controversy and speculation about the Pi Network project since its official launch on the mainnet at the end of February. The price of Pi Coin has remained relatively unchanged over the past few days, trading in the range of $0.75–$0.80. Therefore, the largest cryptocurrency YouTube channel, Coin Bureau, with nearly 2.7 million subscribers, took the time to clarify the Pi Network project. In his in-depth video, host Nick will analyze everything - from who really founded Pi, to how it works, how to earn money, and whether the Pi coin will ever reach the magical milestone of 5 dollars. Hint: It's not impossible, but it's not exactly what you think. Let's start with the major players behind Pi. While the project primarily involves Stanford graduates Nicholas Kokalis and Chengdiao Fan, the original team actually consisted of four founders. Vincent McPhillip and Aurelien Schiltz were also part of the original core team. However, Vincent left the project under controversial circumstances and even filed a lawsuit, which was quietly settled in 2023. Aurelien stayed and continues to actively contribute to Pi's codebase. One of the most important things to understand about Pi Network is how it actually works. Unlike most cryptocurrency projects that use proof of work or proof of stake, Pi runs on a modified version of the Stellar Consensus Protocol. It is extremely centralized – there are only 28 nodes and 3 validators, and all three validators are operated by the core Pi team. That level of control has raised alarm bells for those looking for a truly decentralized currency. For mining Pi, it is not really mining in the traditional sense. Users tap a button once a day to prove that they are human and are active. It is more like a gaming reward system than a blockchain consensus mechanism. And while millions of users have completed KYC to claim their tokens, only a small fraction of the total supply has actually been unlocked and can be traded. This brings us to tokenomics. Pi has a massive maximum supply of 100 billion coins. Sixty-five percent is allocated for mining, while the rest is for the team, platform, and liquidity. So far, 7.2 billion coins have been mined, but only 2 billion have been unlocked for users. Meanwhile, over 3 billion Pi have been unlocked for the team and platform. This means that the core team controls more circulating supply than the entire user base combined. Now, the Million Dollar Question: Can Pi Coin Really Reach $5? Technically, it's correct, but only under certain conditions. Low liquidity on exchanges makes price pumping easier. There are only about 300 million Pi in known exchange wallets. This number is very small compared to other major cryptocurrencies. And if the team is strategically selling the coins through the OTC exchange and using that money to work with market makers, they could artificially maintain the price at a high level – at least for a while. Nick explained that this type of price manipulation does not only happen with Pi. It also occurs with other large projects. However, because Pi has a low available supply on exchanges, moving the price is much easier. That is how some people believe that Pi could reach 5 dollars, even if its fundamentals do not justify that valuation. The video also mentions upcoming milestones, which can attract more attention and can drive the price. These milestones include the easy migration of coins to the mainnet, the conversion of Fireside forum tokens to Pi, and the onboarding of more developers. But Nick warns that Pi Network's lack of transparency and slow communication with the community is holding it back. Even now, their roadmap seems outdated and incomplete. There are also other concerns. The KYC process, handled internally by Pi, raises questions about data privacy and legality. If organizations and exchanges do not trust, they will not participate. And without their support, Pi's growth could stagnate. Finally, the Pi Coin craze is built on a strange combination of potential and mystery. It has millions of users, but very little liquidity. It promises decentralization, yet is still tightly controlled by a small group. And it speaks of utility, but the ecosystem is still in its early stages. So, can Pi Coin reach 5 dollars? It is possible, especially if low liquidity continues and interest surges from important announcements or listings. But whether it can maintain that level - or even deserves to - depends on the level of trust that the project can gain from the larger cryptocurrency community. Currently, this is a project worth watching, but perhaps you shouldn't bet the whole house on it just yet.