PI（π）硬幣價格暴跌了80％，消耗了9.4億美元的市值

PI硬幣價格急劇下降，比2月的高峰近80％。這種陡峭的下降使市值消耗了約94億美元，其估值從138億美元縮小到僅44億美元。

The price of Pi coin has fallen sharply in recent times. The token is now trading at $0.6318, down nearly 80% from its February peak of $3.6. This steep drop has wiped out approximately $9 billion in market capitalization, shrinking its valuation from $13.8 billion to just $4.4 billion.

PI硬幣的價格最近急劇下跌。該令牌現在的交易價格為0.6318美元，比2月峰值3.6美元下降了近80％。這種陡峭的下降已經消除了大約90億美元的市值，其估值從138億美元縮小到僅44億美元。

However, at least four critical developments must take place for Pi to stage a meaningful comeback and revisit its previous highs.

但是，PI必須進行至少四個關鍵發展，以進行有意義的捲土重來並重新審視其先前的高點。

The broader crypto market must shift out of its current bearish trend. Historically, altcoins tend to rally when Bitcoin leads a market surge. For example, many altcoins reached their peaks last November as Bitcoin climbed. A strong upward move in Bitcoin would typically boost sentiment and channel capital into coins like Pi.

更廣泛的加密市場必須擺脫當前的看跌趨勢。從歷史上看，當比特幣帶來市場趨勢時，山寨幣往往會集結。例如，去年11月，隨著比特幣的攀登，許多山寨幣達到了高峰。比特幣的強勁上升通常會提高情緒，並將資本引導到Pi等硬幣中。

Next, Pi Network must restructure its tokenomics to address growing concerns. Over the next year, the network plans to release 1.5 billion tokens, averaging 130 million tokens per month (worth around $83 million at today’s prices).

接下來，PI網絡必須重組其令牌學以解決日益嚴重的問題。在明年，該網絡計劃發布15億個令牌，平均每月1.3億個令牌（按今天的價格價值約8300萬美元）。

Although the Pi team addressed the issue, their response revealed that insiders control a significant portion of Pi tokens. This centralization raises concerns, especially after past incidents like the Mantra DAO collapse. The team holds 20 billion tokens, the Pi Foundation controls 10 billion, and an additional 5 billion remain in various allocations. In total, insiders manage 35 billion tokens, while pioneers hold 65 billion.

儘管PI團隊解決了這個問題，但他們的回答表明，內部人士控制著很大一部分PI令牌。這種集中化引起了人們的關注，尤其是在過去的事件之後，諸如Dao Mantra Dao崩潰之後。該團隊持有200億個令牌，PI基金會控制了100億個代幣，並且在各種分配中又有50億。總體而言，內部人士管理350億個令牌，而先驅者則擁有650億個代幣。

Listings on tier-1 exchanges could act as a major price catalyst. Currently, Pi coin trades on platforms like Gate.io, Bitget, OKX, and MEXC. A listing on major exchanges such as Binance, Coinbase, Kraken, or Upbit could spark a short squeeze and drive the price upward.

關於Tier-1交易所的清單可以充當主要的價格催化劑。當前，Pi硬幣在Gate.io，Bitget，Okx和Mexc等平台上進行交易。諸如Binance，Coinbase，Kraken或Upbit等主要交易所的清單可能會引發短暫的擠壓並將價格推向上升。

Previous examples support this view. Tokens like Kaito, StakeStone, and WalletConnect recorded major gains post-listing. Orca, for instance, surged over 200% after its Upbit debut.

以前的示例支持此觀點。像Kaito，Stakestone和WalletConnect這樣的代幣記錄了列出後的重大收益。例如，Orca在UPBIT首次亮相後猛增了200％以上。

Finally, Pi Network must expand its ecosystem to create real-world utility. Launching decentralized apps, enabling real payments, and building partnerships would shift Pi from speculative hype to sustained adoption.

最後，PI網絡必須擴展其生態系統以創建現實世界實用程序。啟動分散的應用程序，實現實際付款和建立合作夥伴關係將使PI從投機性炒作轉變為持續採用。

Technical analysis on the four-hour chart shows that Pi coin trades within a tight range, signaling ongoing consolidation. The price hovers around the 50-period moving average, suggesting limited momentum. Additionally, the Average True Range (ATR) (a key volatility indicator) has dropped, indicating muted market activity and a buildup for a possible breakout.

四小時圖表上的技術分析表明，PI硬幣在緊密範圍內交易，並發出正在進行的合併。價格徘徊在50個週期的移動平均值附近，表明勢頭有限。此外，平均真實範圍（ATR）（一個關鍵波動率指示器）已經下降，表明市場活動變得柔和，並累積了可能的突破。

Technically, Pi coin appears to be forming a double-bottom reversal pattern. The pattern’s neckline sits at $0.7857, marking the month’s highest price.

從技術上講，PI硬幣似乎正在形成雙底逆轉模式。圖案的領口為0.7857美元，標誌著當月的最高價格。

If the price breaks above this neckline, it could rally toward the $1 resistance level—a 58% increase from current levels. However, if it dips below the double-bottom support, it could invalidate the bullish pattern and trigger further downside.

如果價格超過此領口，它可能會朝著1美元的電阻水平躍升，這比當前水平增加了58％。但是，如果它下降到雙底支持以下，則可能使看漲模式無效並觸發進一步的缺點。