Pi Network Tanks After Mainnet Launch, Analyst Says Solaxy Could Rally
Pi Network’s long-awaited mainnet launch has been anything but smooth.
Its native PI token is down over 80% from its initial trading price despite years of anticipation from mobile miners who helped grow the network.
While Pi Network struggles, one analyst suggests investors should look to Solaxy instead – a Layer-2 project that’s raised over $22 million in its ICO.
Pi Network’s Launch Day Crash – What Went Wrong?
Pi Network’s transition to the Open Mainnet yesterday was a major milestone for the mobile mining project.
But the excitement didn’t last long.
Within hours of trading on exchanges like OKX and Bitget, the PI token tanked, leaving millions of its KYC-verified users wondering what’s next for their tokens.
A few factors caused the price crash.
A wave of early miners, who’d been accumulating PI since 2019, rushed to cash out, causing a massive sell-off.
At the same time, unverified rumors spread on social media, speculating the Pi Core Team – which controls around 20% of the token supply – might also be dumping tokens.
On top of that, technical made matters worse.
Many users are stuck in KYC verification and cannot access their tokens, while Pi Network’s ecosystem is trying to show it’s useful in the real world.
Despite years of development, only 80 dApps are currently live – falling well short of expectations.
Can Pi Network Bounce Back From the Initial Volatility?
Looking ahead, Pi Network faces significant challenges on its road to recovery.
Analysts believe the token could rise above $11 in the coming weeks, but that largely depends on whether the team can prevent more sell-offs.
A key concern is the huge backlog of users still waiting for KYC verification.
If we do the math, up to 73% of Pi Network’s 70 million users have yet to complete this step.
That means more selling pressure might hit PI once they gain access to trading.
Beyond price stability, Pi Network’s long-term success will come down to its practicality.
Even with big plans for a peer-to-peer economy, the network hasn’t delivered yet.
The team will need to make meaningful progress in onboarding merchants and attracting developers to create disruptive dApps.
Some speculate a listing on Binance or Coinbase could trigger a rebound for PI.
But without clear tokenomics – and given the rumors of insider selling – Pi Network will need more than just exchange listings to rebuild trust.
Solaxy Goes Viral as Pi Network Tanks – Why Analysts Think SOLX is a Good Opportunity
As Pi Network struggles after its launch, attention is shifting to projects with better prospects.
One of these projects is Solaxy, which has raised over $22.7 million in presale funding.
While Pi is focused on mobile mining, Solaxy is tackling a different issue: scaling Solana’s network with Layer-2 technology.
Crypto analyst Austin Hilton is hyped about Solaxy’s potential.
He suggested it could be the “biggest meme coin of 2025” due to its built-in utility.
Although Hilton didn’t provide a precise price target, he emphasized that Solaxy’s focus on solving a real-world problem sets it apart from most meme coins.
It has the meme coin appeal but with actual utility.
The contrast between Solaxy and Pi Network is striking: the latter launched with unclear tokenomics, while the former entered the market with a clear roadmap and mission.
Plus, Solaxy’s presale success suggests that investors are favoring projects with genuine long-term value – not just hype.
Those who invest in Solaxy’s presale can also stake their SOLX tokens right away.
Annual yields are estimated at 179%, and more than 6.4 billion SOLX have been staked so far.
So, as Solana continues to grow, Layer-2 solutions like Solaxy could be in high demand.
That’s why some analysts think Solaxy could be one to keep an eye on.
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