Pi Network Faces Critical $0.50 Support Test Amid Mainnet Migration Chaos

Pi Network's transition to mainnet has hit severe technical roadblocks, causing a dramatic price drop. The token currently hovers at $0.5379, with analysts warning of potential collapse below the crucial $0.50 support level.

Community reports reveal systemic failures including KYC verification issues, missing balances, and 2FA malfunctions—raising serious concerns about network stability. Blockchain analytics show suspicious activity: 7.9 million PI moved from Core wallets, with 4.5 million PI distributed across three unknown addresses.

The combination of technical failures and possible insider transactions creates significant bearish pressure. Market experts caution that sustained migration problems coupled with liquidity drainage could trigger a breakdown of the $0.50 price floor.