In May 2025, Pi Network experienced significant volatility, with its native token, PI, undergoing a sharp decline after a brief rally. This period highlighted ongoing challenges related to ecosystem development, exchange listings, and community trust.
Pi Coin Price Fluctuations
On May 11, PI was trading at approximately $0.78. A surge in anticipation of Pi Network’s participation in the Consensus 2025 conference and hints at major ecosystem updates propelled the price to a peak of $1.61 on May 12, marking a 106% increase within 24 hours. However, following the May 14 announcement of a $100 million ecosystem fund, the price declined sharply, reaching $0.68 by May 18—a 58% drop from its peak. As of May 19, PI is trading around $0.71, reflecting a modest recovery.
Pi Network Ecosystem Developments
Horizon Upgrade and Decentralization Efforts
In early May, Pi Network completed the shutdown of its last remaining central node as part of the Horizon upgrade, a step toward decentralization. The team also announced plans to open-source its codebase, aiming to enhance transparency.
Fiat Onramps Integration
Pi Network partnered with Banxa to integrate fiat onramps into its app, allowing users to purchase PI using traditional payment methods such as credit cards and Apple Pay. This service became available even before users completed the in-app Know Your Customer (KYC) process, improving entry points into the ecosystem.
$100 Million Ecosystem Fund
The key announcement on May 14 was the launch of Pi Network Ventures, a $100 million investment fund aimed at supporting ecosystem development. Alongside this, the team introduced the concept of an “ownerless” Pi Foundation to provide long-term governance for the network. However, neither initiative included a timeline for the launch of widely usable applications, leading to community concerns about delays in real-world utility.
Pi Network’s Community Sentiment and Allegations
The sharp price decline and lack of clear timelines for ecosystem developments led to growing frustration within the Pi Network community. Some long-time users, known as “Pioneers,” voiced concerns about deliberate delays and the absence of real utility.
On May 17, a community analyst known as Dr. Picoin posted blockchain screenshots suggesting that a wallet linked to the Pi core team moved 12 million PI tokens around the time of the token’s recent high. This raised suspicions of insider token sales. However, the claims remain unverified, and some community members argued that the allegations were based on a misreading of blockchain data.
Further concerns were raised about censorship, with reports of users being banned from community channels after questioning wallet mapping and exchange access restrictions in certain regions. As of now, the Pi Core Team has not issued a formal response to these allegations.
Price Predictions
Short-Term Outlook
CoinCodex estimates a possible price increase to $0.935 by May 22, marking a 30.14% rise from current levels. The 1-month prediction points to a target of $2.38, a 235% increase from the current price. The 3-month projection is slightly higher at $2.51, representing a 253.5% potential gain from $0.71.
Long-Term Outlook
DigitalCoinPrice offers a more conservative forecast. For 2025, it projects Pi’s average price at $1.44, with a potential peak of $1.56, approximately a 119.7% rise from current levels. In 2026, its estimated maximum is $1.84, a 159% increase from today. The platform expects continued growth through 2030, with Pi potentially reaching up to $3.90 by the end of the decade.
However, these projections are speculative and heavily dependent on progress in network utility, exchange listings, and user adoption.
Challenges Ahead
Exchange Listings and Liquidity
Pi Network still lacks listings on major exchanges such as Binance and Coinbase, limiting its accessibility and liquidity. While it is available on platforms like OKX, Gate.io, and Bitget, the absence from top-tier exchanges hampers broader adoption.
Token Unlocks and Supply Concerns
A significant factor contributing to the price decline is the upcoming release of 129 million tokens into circulation, valued at approximately $140.61 million. Historically, large token unlock events increase supply, leading to downward pressure on prices.
Final Thoughts
Pi Network’s recent developments highlight the challenges of transitioning from a promising concept to a fully functional ecosystem. While efforts toward decentralization and ecosystem funding are steps in the right direction, the lack of clear timelines and real-world utility continues to affect community sentiment and price stability. Investors and users should remain cautious and stay informed about ongoing developments.
