Pi Network Recovers from Lowest Point in 30 Days: Has the Reversal Started?

Pi Network has been able to recover from a 30-day fall that reached below $0.40 at the beginning of the month and was most recently trading around $0.65, although it is still down about 80% from its all-time high of nearly $3.00 reached after the Open Network launch.

After a significant fall in March, the price of Pi Network stabilized strongly in April, as traders questioned whether a reversal was beginning. Is the Reversal of the Pi Network Starting? In a recent post on X, renowned altcoin analyst Dr. Altcoin pointed out that a wallet associated with the Pi Core Group has been accumulating Pi strongly in recent weeks to counteract the recent price fall.

This wallet has collected nearly 50 million Pi tokens worth over 30 million dollars at current prices. But will this brave effort to raise the price last? Yes, only time will tell, but the sentiment has improved recently in the cryptocurrency market as a whole, suggesting that this move may be effective. Moreover, positive stories such as Chainlink switching to support the Pi blockchain on its feed and the co-founder of Pi Network, Nicolas Kokkalis, appearing at Consensus 2025 could boost demand in the short term as optimism about the network increases.

Web3 analyst Jatin Gupta argues that support for Chainlink data opens up many great DeFi opportunities for participants in Pi Network on X.

Add Pi to the Cryptocurrency Investment Portfolio? With over 60 million participants in the network and a current market value of approximately 4.5 billion dollars, Pi Network is an attractive cryptocurrency. However, while this network is certainly making progress in the right direction, it continues to receive a lot of criticism. Critics of the Pi network's long-standing referral model liken it to a pyramid scheme and question its sustainability and transparency due to multiple delays in the mainnet launch and its seemingly highly centralized control. Inflation is another concern – Recent years have seen the rapid increase in the supply of PI tokens, while actual utility is limited and the KYC process is slow, leaving users frustrated.