PI（π）硬币价格暴跌了80％，消耗了9.4亿美元的市值

PI硬币价格急剧下降，比2月的高峰近80％。这种陡峭的下降使市值消耗了约94亿美元，其估值从138亿美元缩小到仅44亿美元。

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硬币的价格最近急剧下跌。该令牌现在的交易价格为0.6318美元，比2月峰值3.6美元下降了近80％。这种陡峭的下降已经消除了大约90亿美元的市值，其估值从138亿美元缩小到仅44亿美元。

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

但是，PI必须进行至少四个关键发展，以进行有意义的卷土重来并重新审视其先前的高点。

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.

更广泛的加密市场必须摆脱当前的看跌趋势。从历史上看，当比特币带来市场趋势时，山寨币往往会集结。例如，去年11月，随着比特币的攀登，许多山寨币达到了高峰。比特币的强劲上升通常会提高情绪，并将资本引导到Pi等硬币中。

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).

接下来，PI网络必须重组其令牌学以解决日益严重的问题。在明年，该网络计划发布15亿个令牌，平均每月1.3亿个令牌（按今天的价格价值约8300万美元）。

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.

尽管PI团队解决了这个问题，但他们的回答表明，内部人士控制着很大一部分PI令牌。这种集中化引起了人们的关注，尤其是在过去的事件之后，诸如Dao Mantra Dao崩溃之后。该团队持有200亿个令牌，PI基金会控制了100亿个代币，并且在各种分配中又有50亿。总体而言，内部人士管理350亿个令牌，而先驱者则拥有650亿个代币。

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.

关于Tier-1交易所的清单可以充当主要的价格催化剂。当前，Pi硬币在Gate.io，Bitget，Okx和Mexc等平台上进行交易。诸如Binance，Coinbase，Kraken或Upbit等主要交易所的清单可能会引发短暂的挤压并将价格推向上升。

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.

以前的示例支持此观点。像Kaito，Stakestone和WalletConnect这样的代币记录了列出后的重大收益。例如，Orca在UPBIT首次亮相后猛增了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.

最后，PI网络必须扩展其生态系统以创建现实世界实用程序。启动分散的应用程序，实现实际付款和建立合作伙伴关系将使PI从投机性炒作转变为持续采用。

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.

四小时图表上的技术分析表明，PI硬币在紧密范围内交易，并发出正在进行的合并。价格徘徊在50个周期的移动平均值附近，表明势头有限。此外，平均真实范围（ATR）（一个关键波动率指示器）已经下降，表明市场活动变得柔和，并累积了可能的突破。

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.

从技术上讲，PI硬币似乎正在形成双底逆转模式。图案的领口为0.7857美元，标志着当月的最高价格。

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.

如果价格超过此领口，它可能会朝着1美元的电阻水平跃升，这比当前水平增加了58％。但是，如果它下降到双底支持以下，则可能使看涨模式无效并触发进一步的缺点。