Pi Network Price Drops Below $1 – Can PiDaoSwap Stop the Decline?
The post Pi Network Price Drops Below $1 – Can PiDaoSwap Stop the Decline? appeared first on Coinpedia Fintech News
Pi Network is going through a rough time as its cryptocurrency, Pi, has seen a big price drop. It recently fell below $1, hitting as low as $0.87 before slightly bouncing back to $0.9913. Over the past week, Pi has lost about 41% of its value, making investors worried that the price could drop even further, possibly below $0.60. This uncertainty has made many in the community nervous.
However, to fight back against this downward trend, Pi Network supporters are working on a new project called PiDaoSwap. This will be a decentralized exchange (DEX), which means a platform where people can trade Pi without depending on external exchanges that might be manipulating its price.
PiDaoSwap: A DEX to Counter Price Manipulation
In response to allegations of price manipulation by external exchanges, the Pi Network community is building PiDaoSwap, a decentralized exchange (DEX) to ensure Pi’s value reflects real market demand. According to reports, the platform is in its final stages of development and awaiting Know Your Business (KYB) approval from the Pi core team.
However, PiDaoSwap has already secured Twitter’s organizational verification, showing its progress. The Pi Network VietNames community claims the DEX will prevent external exchanges from manipulating Pi’s price. Reports also suggest some platforms are using bots to alter Pi’s valuation artificially.
Meanwhile, Pi supporters are frustrated as Binance still hasn’t listed the token despite growing community pressure.
Pi Network Branding Restrictions Could Impact PiDaoSwap
While PiDaoSwap is gaining traction, concerns have emerged regarding Pi Network’s intellectual property (IP) policies. The official documentation prohibits the use of “Pi-related” branding without approval from the core team. The PiDaoSwap team has raised questions about whether their project name and domain need modifications to comply with these restrictions before its launch.
Will Pi Network Survive?
As Pi struggles with declining prices and price manipulation claims, industry experts have voiced concerns about the project’s sustainability. Justin Bons, the founder of CyberCapital, criticized Pi’s mining process and tokenomics, claiming that the project is highly centralized and its key functions remain locked behind KYC verification. He went as far as calling Pi an “investment scam.”
However, not all opinions are negative. Crypto analyst Dr. Altcoin defended Pi Network, stating that after years of involvement with the project, he has found no evidence suggesting it is a scam.
With growing scrutiny, price instability, and regulatory challenges, Pi Network faces a critical test. Whether PiDaoSwap can successfully counter price manipulation and restore investor confidence remains to be seen.
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