The reason why Pi Network (PI) is difficult to reach 0.50 USD: the official is unwilling to decentralize voting rights, leading to an increase in community user dumping.

Pi Network (PI) has been unable to return above $0.50, with a current report of $0.4417 during the early European trading session today (17). The decline of Pi coin stems from its ecosystem's weak growth, an increase in community user dumping, a lack of exchange listings, and the permanent token unlock leading to an increase in its supply over time. This article discusses some key catalysts that may enhance the value of Pi coin over time.

The listing on the exchange will raise the price of Pi coin

The main catalyst for the rise of Pi coin is being listed on one or more top exchanges. Pi is currently listed on several mainstream exchanges such as Gate, but has not been listed on all exchanges.

Historical experience shows that cryptocurrencies always rise in price after being listed on exchanges, although for a short period of time. For example, Bubblemaps doubled in value after being listed on major DEX, while Arbitrum soared by 15% after being listed on Robinhood.

Many mainstream exchanges refuse to list PI coin due to its lack of transparency and centralization.

Pi Network Ecosystem Growth

Another potential catalyst for increasing the price of Pi coin is the growth of its ecosystem, which will transform it from a ghost chain into a practical Token.

The developers of Pi Network hope that Pi can become a universal Token used for settling payments in various fields, including gaming, decentralized finance (DeFi), e-commerce, and other areas.

They recently launched Pi AI Studio, hoping it will become the default platform for building AI applications. In addition, they also launched other projects such as Pi Domains and Pi Ad Network.

However, the reality is that the Pi Network is essentially a ghost chain with no mainstream applications. The launch of successful applications will help give it more utility.

One suggestion is to move these applications to mainstream app stores instead of being based on the Pi browser.

The official should focus on decentralization

Another potential catalyst that could increase the price of Pi coin is its decentralization efforts or an audit by a well-known auditing firm.

The Pi Network is controlled by the Pi Core Team (PCT) and the Pi Foundation, two organizations that are largely unknown to most users. The foundation holds over 90 billion tokens, worth billions of dollars, and is not accountable to anyone.

The decision to increase its level of diversification will be beneficial, as it will make it easier for the exchange to list its assets. It will also allow community members to vote on key issues such as token burning.

If the technology works, the Pi coin will soar

Finally, if the technical performance is good, the Token will rise significantly. As shown in the figure below, it has formed a double bottom pattern at 0.4087 dollars, with its neckline at the highest point in May.

The price of Pi coin has also formed a descending wedge pattern, which is a common bullish reversal signal. Therefore, if these patterns are valid, the price of Pi coin will rebound significantly.

(Source: Trading View)