What Pi Coin Needs For Recovery After Pullback, Slow Growth
Pi Network price has continued to struggle, with many anticipating the ongoing topsy-turvy scenario to sustain.
Notably, many have expressed their frustration over the lack of transparency from the Pi Core Team. In addition, the centralization concern of Pi Coin has further weighed on the investors’ sentiment.
Amid this, a top market expert and trader has revealed how the crypto can witness growth in the near future.
Meanwhile, the expert has also unveiled the relationship between Pi Network and Pi Coin. In simple terms, the expert has highlighted how the coin is used within the network.
Besides, he also remained optimistic about the future trajectory of the asset.
Analyst Highlights Catalyst for Pi Network Growth
In a recent post on X, crypto analyst Kim H Wong has highlighted the primary challenges and opportunities ahead for Pi Network.
Wong noted that Pi Coin has a solid infrastructure and a massive user base. However, he said that its recovery hinges on two things, which are mass adoption and DApp development.
He emphasized that Pi Network is already ahead in terms of vision and reach. The platform offers a peer-to-peer ecosystem where users can trade goods and services using Pi Coin via mobile phones.
Moreover, it boasts over 65 million users in 200+ countries, making it one of the largest crypto communities globally.
Meanwhile, Wong added that Pi’s unique ecosystem supports decentralized applications (DApps) and operates with a .pi domain environment.
He has cited these as something that no other crypto project is currently doing. In other words, he believes this puts Pi in a prime spot to lead Web3 adoption.
However, he cautioned that the ecosystem still lacks practical DApps that people can use every day. To bridge this gap, Wong mentioned the $100 million Pi Venture Fund and the Pi App Studio, both aimed at fast-tracking DApp development using AI tools.
KYC and Coin Migration Must Accelerate
Despite having millions of users, Pi Network has a significant bottleneck. For context, Wong emphasized that only about 14 million users have completed KYC.
Even fewer, roughly 12 million, have successfully migrated their coins to the mainnet. Wong explained that without proper KYC and coin migration, most users can’t actively participate in the ecosystem.
Those who have migrated often have only 10% of their coins unlocked, with the rest locked for up to three years.
This limited coin availability is impacting the transaction activity and hurting overall adoption. Wong warned that unless this issue is fixed quickly, the ecosystem risks stagnation, no matter how innovative the tech stack might be.
Pi Coin Price Slips, Can it Recover?
Pi Network price has slipped more than 1.5% and exchanged hands at $0.4412, while its trading volume fell 52% to $52 million.
Notably, the crypto has hovered between $0.4548 and $0.4408 in the last 24 hours. The gloomy momentum is further evidenced by a weekly slump of over 5% in Pi Coin price.
Simultaneously, it has lost more than 16% over the last 30 days, indicating a waning risk-bet appetite of traders.
However, despite the pullback, experts have remained bullish on the long-term trajectory of the coin. For context, Wong remained optimistic, urging traders to stay patient and focused on long-term gains.
Citing historical data, Wong drew parallels to Bitcoin, Ethereum, BNB, and Solana. All these coins started with humble beginnings, trading at fractions of a dollar, and have since seen exponential gains.
For instance, Bitcoin’s price soared from just $0.05 to over $118,000 in 15 years. In other words, the expert believes that Pi Network might record a robust recovery ahead.
The post What Pi Coin Needs For Recovery After Pullback, Slow Growth appeared first on The Coin Republic.