Pi Network continues to gain attention this year, particularly following the launch of its main network. The recent surge of Pi Coin to $3 has generated significant excitement within its community, which boasts over 60 million “Pioneers.” The focus now shifts to the globally initiated Pi Ambassador campaign. However, experts express concerns that this enthusiasm may not be sufficient. They emphasize that without real-world value and applications, an altcoin cannot sustain value solely through social media support.
How Does the Pi Ambassador Campaign Work?
Pi Ambassadors are tasked with promoting the “Global Consensus Value” (GCV) target established by Pi Network. This target represents a symbolic price of $314,159 derived from Pi’s mathematical value. Ambassadors are appointed by country, organizing both offline events and efforts to spread Pi’s vision online.
The energy within the community has visibly increased, particularly through events and support campaigns on social media that keep the commitment to Pi Coin alive. However, despite the strength of community spirit, more is needed for a genuine increase in value.
Experts warn that unrealistic expectations surrounding target prices can create a false sense of optimism among participants. They suggest that sustainable value creation requires more than just campaigns; it must involve concrete economic applications.
Criticism of Pi Coin Grows
Some market observers liken the Pi Ambassador campaign to multi-level marketing (MLM) systems. It appears to be structured around bringing in new supporters rather than focusing on product or service quality.
Critics agree that long-term market success cannot merely rely on community size. Without liquidity, exchange listings, and real-world applications, cryptocurrencies struggle to generate lasting value.
The price movements of Pi Coin support these concerns. Although the rapid rise following the main network launch was impressive, the subsequent sharp decline highlighted trust issues in the market. In February, Pi’s price jumped from $0.113 to $2.20 in a short time, but this excitement was short-lived, with the price dropping 78% within a week, impacting community morale significantly.
Recent data indicates that Pi Coin has fallen by 24.9% over the last 30 days, with a 2.5% decline in the past week alone. Notably, the price decreased by 3.1% in the last 24 hours.
While Pi Network strives to foster a strong community connection, the essential factors that will advance the project are different. Without accepted use cases, liquidity channels, and listings on major exchanges, Pi Coin faces challenges in producing lasting value. The Ambassador campaign may keep community enthusiasm alive, but it appears that mere enthusiasm won’t suffice for market value.
