The Pi Network token experienced a significant decline in price throughout 2023, falling from nearly $3 after its mainnet launch in February to the current value of around $0.7925. This drop has impacted investors significantly, leading to billions of dollars lost. While the initial excitement surrounding Pi’s mainnet launch was strong, several factors contributed to this price crash. 1) A lack of mainstream exchange listings is a key factor, with Binance and other major exchanges missing the coin. Although 85% of Binance poll participants favored listing during February, it has yet to happen. 2) Another reason for the price drop is ongoing token unlocks. Millions in Pi tokens are scheduled to be unlocked each month. This dilution of existing holders’ ownership is further contributing to the decline. Additionally, the crypto market as a whole has experienced a slump due to broader economic factors such as concerns surrounding Donald Trump’s tariffs and overall market volatility.