Pi Network’s native token, PI, has been experiencing a downward trend, currently trading around $30. This comes after a spike in mid-August when the price reached $57.7, its highest level since February 2023. However, the lack of bullish news from the developers has dampened the enthusiasm of Pi Network fans who have been promoting the project and its token.One of the reasons for the decline in PI price is the fact that Pi Network remains a closed mainnet, with PI coins trading on IOUs. This means that participating exchanges trade future PI coins at the current IOU value. Additionally, some users have been making transactions based on speculative prices.Despite the price decline, some Pi Network fans, known as “Pioneers,” have set an ambitious price target of $314,159 for the token once the mainnet launches. However, there have been ongoing complaints from users about delays in KYC approvals, which have led some to leave the project. Scammers targeting Pi Network users have also been reported, with fake websites being created to deceive users.Despite these challenges, Pi Network fans continue to promote the project and ask if the PI coin will reach the mentioned price tag. Some businesses have even started accepting PI coin transactions. However, there has been no mention of the reported scams or the need for caution from the platform itself.Overall, while Pi Network’s token price continues to fluctuate and users express frustration over delays and scams, the project’s supporters remain optimistic and continue to promote its potential.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Asia
Countries
Sentiment	neutral
Relevance Score	6
People	Edycabas
Companies	Pi Network
Currencies	Plian
Securities	None