Pi Network Falls 96% From Peak as Analyst Calls It a “Dead Project”
Pi Network’s token has dropped sharply from its all-time high of nearly $3 and is now trading at around $0.1154, down about 96%.
The price decline has hurt investor confidence. Crypto trader and influencer Tabraiz Shams, who once supported Pi Network, now believes the project is becoming a “dead project.”
Too Much Supply, Too Little Demand
Shams says the biggest problem is Pi Network’s large token supply.
Pi Network has a maximum supply of 100 billion tokens, while about 10.89 billion Pi are currently in circulation. According to Shams, demand is not strong enough to absorb such a large supply.
He also believes Pi Network still lacks enough real-world use cases to justify its valuation.
Crypto Market Is Changing
Shams expects the next crypto market cycle to focus on Layer-1 blockchains, decentralized exchanges (DEXs), AI-related projects, and other new blockchain innovations.
He says the popularity of mining apps and tap-to-earn projects has faded, making it harder for projects with limited real-world utility to attract users and investors.
Why Shams Thinks Pi Network Is Struggling
Shams believes Pi Network already faces major challenges, and stricter crypto regulations could make recovery even more difficult.
He says investors are increasingly looking for projects with:
- Strong real-world utility
- Regulatory compliance
- Active ecosystems
Because of this, Shams says he would rather invest in Bitcoin or other established cryptocurrencies with stronger fundamentals than hold Pi Coin.
Can Pi Coin Return to $3?
Pi Coin also faces pressure from monthly token unlocks, which continue to increase the number of coins in circulation.
Around 100 million Pi tokens are expected to be unlocked every month until June 2029, adding more supply to the market. If demand does not grow significantly, this could continue to weigh on the price.
By mid-2029, Pi Network’s circulating supply could reach about 14.5 billion tokens. At that level, a $3 Pi price would give the project a market value of around $43.5 billion, putting it in the same league as major cryptocurrencies like XRP, Solana, and TRON.
To reach that valuation, Pi Network would likely need:
- Millions of active users
- Wider real-world adoption
- A strong ecosystem
- Much higher demand than it has today
Based on these factors, Shams does not believe Pi Coin will return to its previous high of nearly $3, although he says short-term price rebounds are still possible.
