NOIDA (CoinChapter.com) — The Pi Network team announced another delay in its much-anticipated Open Network launch, now pushed to Q1 2025. The announcement marks yet another instance of the project extending its timeline, raising concerns about the feasibility of its promises.
While the official statement cites the need for more users to complete their KYC and mainnet migrations, the repeated postponements erode trust among its community.
For a network built on a vision of inclusivity and mass adoption, these delays are starting to have the opposite effect, sowing doubt about its execution capabilities. Will Q1 2025 be just another missed deadline?
User Complaints Spark Scam Allegations Amid Migration Issues
The Pi Network’s credibility has taken another hit, with numerous users reporting issues migrating their Pi tokens. Complaints on forums like Reddit highlight troubling scenarios, including tokens being automatically migrated to old wallets, inaccessible funds, and confusion over wallet addresses.
Users allege that the project’s migration process lacks transparency and accountability, sparking speculation that these issues could be more than mere technical glitches.
Users are facing issues in migrating their tokens.One user shared that they lost access to their migrated Pi due to discrepancies in wallet addresses, while others have accused the team of unresponsiveness, exacerbating frustrations. These incidents raise uncomfortable questions about whether Pi Network is genuinely equipped to handle its ambitious mainnet launch.
Adding to the skepticism is the vague promise from Pi Network’s founder, Nicolas Kokkalis, who has committed to a Q1 2025 launch without specifying an exact date. For many, this non-committal timeline serves as a cautious warning, suggesting that the project might not yet have resolved its critical roadblocks. If these migration issues persist, they could cause further delays, casting even more doubt on the legitimacy of the Pi Network’s goals.
PI Coin Price Reaches $50
Meanwhile, the PI coin price reached $50 after a drop to around $40. It seems a YouTube short from the Pi Network founder Nicolas Kokkalis has PI coin users excited. Though the token is still trading as an IOU, several users are trading it. Yet, the token’s 20-day EMA (red) and 50-day EMA (purple) formed a resistance confluence near $53.2 that rebuffed the bulls’ advances.
PIUSDT daily price chart with RSI. Source: TradingviewBreaking above the immediate resistance would allow bulls to target the resistance near $57.2 before correcting.
On the other hand, a drop from here would see the PI coin price test the resistance near $47.5. Failure of the immediate support could force the token to test the support near $44.
The relative strength index for the token remained neutral, with a score of 46.09 on the daily charts.
