Pi Network users continue to experience significant difficulties with the migration process to the mainnet, despite following recommended steps such as enabling two-factor authentication. Many users report their wallets still marked with issues and untransferred balances, leading to frustration within the community. The project, which launched its native token and open network earlier this year, has yet to resolve widespread verification challenges and ambiguous new migration requirements that appeared unexpectedly.
A substantial token unlock of approximately 276 million PI coins is slated for June, which may increase selling pressure. PI is currently trading around $0.64, down about 78% from its all-time high of $3 seen in February. Technical indicators highlight bearish momentum with weak buying signals and declining trading volumes. Analysts foresee potential further declines, with the possibility of prices dropping toward $0.40 if the $0.55 support level fails.
The community's dissatisfaction is mounting due to repeated migration prompts, unresolved KYC verification status, and delays in accessing their earned tokens. Despite promises that completing migration steps would unlock real-world utility such as purchasing goods and using decentralized apps, users remain skeptical as the core team has not officially confirmed any new migration phases.