Pi Network Token Price Plummets 96% as Influencer Declares Project 'Dead'

Pi Network's token price has plummeted by approximately 96.17% from its all-time high, falling to around $0.1154. Crypto influencer and trader Tabraiz Shams, who previously supported Pi Network, now describes it as a 'dead project'. He attributes the decline in part to the project's large token supply of 100 billion tokens, with only 10.89 billion in circulation.

Shams argues that the large supply is one factor weighing on Pi Coin's price, and also believes the project lacks sufficient real-world use cases to support such a large supply.

Looking ahead, Shams predicts that the next crypto market cycle will be driven by Layer-1 blockchains, decentralized exchanges, AI-related projects, and emerging narratives rather than community mining applications. He warns that projects with limited real-world utility could face increasing difficulty attracting users and investors in future market cycles.