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The price of Pi Network today is 0.45 dollars while the price of Bitcoin has reached 122 thousand dollars.
The price of the Pi network is approaching its all-time low again.
Key events of the story
The Pi Coin failed to rise despite Bitcoin reaching its all-time high of $122,000 this week.

The increase in the supply of tokens and the decrease in demand keep the trading of Pi Coin close to its lowest price.

The community criticizes the Core Team for central control and lack of developer support.

The increase in the number of scammers, the decline in trust, and the opening of more tokens further exacerbate the bearish outlook for Pi currency.

The price of the Pay network dropped today to $0.45, despite the price of Bitcoin reaching an all-time high of $122,000. This decline is primarily due to the rapid increase in the circulating supply of Pay, weak demand, and reduced market liquidity.

While Bitcoin enjoys attention in this rally, Pi Coin struggles to keep up, and some in the community now fear the worst.

Why is the price of Pi Network still low today despite the growth of the main network?
Many supporters of Pi acknowledge that they wish to see Pi reach $10 someday. However, in the midst of this bull market, that dream is fading. One of the biggest challenges facing Pi right now is the rapid increase in its circulating supply.

As mobile mining rewards continue to open up, and more tokens transition from the test network to the mainnet, supply is increasing faster than demand. This has led to Pi tokens worth over 37 million US dollars moving to the mainnet.

However, despite this growth, the price of Pi Coin remains stuck near its lowest levels, trading at around $0.45.

The decline in liquidity and the developers' inactivity severely affect the value of Pi Coin.
The Pay community believes that the increase in supply, along with the decrease in market liquidity, is the main reason for the difficulty in Pay's growth. There is very little demand for buying, and insufficient liquidity to support price increases.

Moreover, the project faces criticism due to limited support from the development team. Many see that the core team does not provide enough space for community developers to contribute, which could stifle innovation and undermine investor confidence.

The technical analysis of Pi Coin indicates further decline in the future.
On higher time frames, the Pi price chart shows lower lows, which often herald larger declines. When the price of Bitcoin recently surpassed $122,000, Pi only touched $0.53 before retreating to $0.45.

However, the price of "Pai" is currently below the Fibonacci retracement level of 0.382, indicating the possibility of continued decline unless demand increases. The next support level is at $0.40, a level that has not been touched since early June.

Pi Coin Forecast: Is a Recovery Coming or an Extended Winter for Cryptocurrencies?
Despite the bleak predictions, some see this decline as a rare opportunity. While others fear the end, some view it as a chance for accumulation. However, with scammers exceeding the trust of the community, decreasing interaction, and the emergence of more account openings, the short-term future of Pay seems uncertain.

The question now is: Can BAI recover from this deep correction, or is this the beginning of a longer winter?
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