Pi Coin (PI) has plunged by 19.2% in the past 7 days, as fallout from the highly anticipated “Pi Day” event continues to ripple through the community.
One key reveal was a new staking initiative dubbed the Ecosystem Directory Staking, where users can lock up their Pi to support favorite apps — with the most-staked apps rising in rank across the network.
At first glance, this seemed bullish for the project and the long-term Pi Coin price prediction.
But just a day later, the Core Team clarified that this staking mechanism would not offer any rewards to users — a major departure from typical staking models in crypto.
This decision sparked frustration among Pi’s community, who expected incentives in exchange for locking tokens, especially given how staking traditionally helps secure blockchain networks and drive adoption.
The Pi Core Team clarified that “it does not make sense” for the project to promote specific apps via staking rewards. In contrast, they encourage each protocol to provide the incentives they deem fit to encourage users to lock in their tokens.
Upon hitting a local high of $0.66, Pi Coin started to decline sharply until hitting $0.4750 just four days after “Pi Day.”
Once again, the developing team failed to excite market participants while a rising circulating supply coming from daily token unlocks has kept pushing down the price.
Pi Coin Price Prediction: PI Could Hit a New All-Time Low If This Happens
Looking at the 4-hour chart, we can see that the $0.4750 level has cushioned a previous drop once already.
The price has closed with gains in the past 12 hours upon hitting that threshold. This confirms its relevance to market participants, especially if the latest 4-hour candle breaks above the token’s falling wedge formation. This would favor an upcoming push to the $0.57 area.
Meanwhile, a break below this key support could favor a Pi Coin price prediction of $0.40 in the near term.
So, we may not see Pi Coin hitting $0 yet, but this latest disappointment related to its no-reward staking mechanism could surely push the token to a new all-time low.
In the meantime, many other cryptos have been recovering and performing quite positively. Storing them safely is key for users and a hot crypto presale called Best Wallet (BEST) provides the perfect solution to do this.
Best Wallet (BEST) Raises Nearly $14M to Launch its Powerful Crypto Wallet
Best Wallet (BEST) offers a robust storage solution for Web3 tokens as it supports a large number of assets across 60 different blockchains.
This project plans to disrupt this space by introducing top features like ‘Upcoming Tokens’, which allow users to identify the most promising new presales.
Best Wallet is available for iOS and Android devices and it offers low swap fees. $BEST is the utility token that powers its ecosystem and will be used to get fee discounts and early access to new features.
Analysts agree that its price will explode once the solution is officially launched and embraced by users.
To buy $BEST at its discounted presale price, head to the Best Wallet website and connect your wallet (e.g. Best Wallet).
You can either swap USDT or ETH or use a bank card to make your investment.
The post Pi Coin Price Prediction – Controversy Erupts Over No-Reward Staking Mechanism: Is Pi Going to $0? appeared first on Cryptonews.
