4 Hypotheses on Pi Network Valuation: From Logical to Unbelievable

Pi Network's mainnet launch sparked debate about its value. Some compare it to Hamster Kombat (HMSTR), a similar tap-to-earn project that saw significant price drops after launch. Pi Network's PI token launched at $2, traded as high as $2.65, and currently sits around $0.67 on OKX, a drop of almost 60%. Another valuation method compares Pi to Stellar (XLM), the blockchain it's based on. Stellar's total value is $17 billion, while Pi's is $65 billion, suggesting Pi's price might drop 70% to match. Pi's whitepaper mentions potential inflation beyond its 100 billion token supply and the project currently lacks real-world applications, both of which could impact its value. Some Pi supporters believe it's worth $314,159 per token, referencing the mathematical constant pi (π), but this idea lacks evidence and is viewed as unrealistic. Others believe Pi will start low and increase gradually. The mainnet launch created a $12.6 billion airdrop, but market sentiment has shifted from strong buying to caution. Bybit CEO Ben Zhou remains skeptical, echoing a 2023 Chinese warning about Pi being a pyramid scheme.