Pi Network Issues Key Clarifications, But PI Price Keeps Falling

2 hours ago 4

Amid ongoing online criticism of some of its features, the Core Team behind the controversial project has issued a more comprehensive guideline on what users need to do to ensure they successfully participate in the second migrations.

Meanwhile, the project’s native token continues to bleed, dropping by over 8% in the past week alone.

Second Migrations to Do List

In the highly anticipated Pi Day (March 14) celebratory post, the team praised the ecosystem developments in the past few years, but also outlined some of the new key features for users. One of them appeared particularly appealing, second migrations, as its sole purpose is to allow users to migrate their tokens to Mainnet – something the community has been begging for years.

Since then, the number of users who reportedly completed second migrations has grown to over 119,000 (as of the end of March), but many continue to be unhappy about the process. In fact, most of the comments below the Core Team’s posts on X are from people claiming that they have been waiting for months or even years for their tokens to be migrated, only to be stuck in some of the KYC pages.

Perhaps that’s why the team published new guidelines, informing that Pioneers “must set up Pi Wallet two-factor authentication (2FA) through Step 3 of the Mainnet checklist” to complete first or second migrations. This step is needed to “further strengthen the account and wallet security” before the actual tokens are transferred.

To complete first or second migrations, Pioneers must set up Pi Wallet two-factor authentication (2FA) through Step 3 of the Mainnet Checklist.

This step is required to further strengthen account and wallet security before real Pi is transferred, an irreversible and immutable… pic.twitter.com/1Q9Zk2vPzU

— Pi Network (@PiCoreTeam) April 2, 2026

PI Continues to Slide

The protocol’s native token peaked in mid-March at roughly $0.30 after Kraken announced its upcoming listing. Once PI went live for trading, the bears stepped up, and this classic sell-the-news event drove the asset south to under $0.20 within a couple of days.

It has been mostly sideways struggles since then, and the past week and day haven’t been particularly kind. PI is down by over 8% weekly, and has dropped by nearly 4% in the last 24 hours. It dipped to $0.167 earlier, and even though it has rebounded slightly, it still struggles to reclaim the $0.17 level.

There are some warning signs on the token unlock schedule, as the average number of coins to be released in the next month is 8 million. Moreover, a few days will see the unlocking of 18 million or more tokens, which could intensify the immediate selling pressure.