Pi Network Prepares for Open Mainnet Transition, Dr Altcoin Issues a Stark Warning

Pi Network is making headlines again as the project prepares for its highly anticipated Open Mainnet transition. Cryptocurrency analyst Dr Altcoin has issued

Amid the anticipation for the Pi Network's Open Mainnet transition, cryptocurrency analyst Dr Altcoin issues a stark warning to the PiCoreTeam (PCT) amid community excitement.

As the recent Mantra (OM) crash continues to send shockwaves through the crypto ecosystem, Dr Altcoin cautions that Pi risks following the same disastrous path. He highlights the urgent need for stronger safeguards and transparency protocols, especially before the mainnet launch.

The OM price crashed from $6.32 to $0.57, causing billions in market capitalization to vanish overnight. This unexpected collapse has triggered fresh scrutiny on emerging projects, placing the Pi Network in the spotlight.

Without these essential implementations, Dr Altcoin says that the Pi Coin could face a similar outcome. This risk is heightened by the network's ongoing issues with transparency and Know Your Customer (KYC) procedures.

Once seen as a rising crypto star, Mantra had investors baffled when it lost over 90% of its value in just 24 hours.

While officials cite mass liquidations as the primary cause for this downturn, many analysts believe a coordinated dump triggered the crash. The fallout resulted in an estimated $6 billion in total market losses, and traders who bought days before the dump lost around $400 million.

The $OM incident is a wake-up call for the entire crypto industry—proof that stricter regulations are urgently needed. It also serves as a HUGE lesson for the Pi Core Team as we transition from the Open Network to the Open Mainnet. @PiCoreTeam @nkokkalis @Chengdiao

For the Pi Network, the Mantra crash serves as a stark reminder. It highlights the risks that unprepared blockchain projects face when planning major transitions.

Dr Altcoin stresses that the urgency of the situation demands swift action from the PiCoreTeam to build essential market mechanisms and investor safeguards. “The OM incident is a wake-up call for the entire crypto industry.”

Dr Altcoin, a cryptocurrency analyst known for his insights on emerging tokens, turns his attention to the PiCoreTeam and the crucial lessons that need to be learned quickly.

With the narrative around the PiCoreTeam’s lack of transparency a consistent thread in recent Pi news, Dr Altcoin continues to integrate this concern into his analysis. He points out how community members are becoming increasingly critical of the team's lack of openness, especially regarding the Pi Coin's locking and burning mechanisms.

This opacity, he warns, could drastically decrease community trust during the transition to the public mainnet.

Further skepticism is fueled by the ongoing delays in the Know Your Business (KYB) process, which has led to projects like PiDaoSwap pivoting to external platforms like Binance Chain for their operations.

These hold-ups hint at structural inefficiencies that could harm the broader Pi ecosystem. Dr Altcoin believes that rapidly approving KYB applications is crucial to retain developer and user confidence.

Despite the recent surge in the Pi Coin price to $0.61, Dr Altcoin remains skeptical. He forecasts a potential price drop to $0.30 if the PCT does not introduce stabilization measures.

A flood of Pi tokens entering exchanges could worsen price volatility without proper control mechanisms, ultimately damaging investor confidence.

Additionally, Pi miners are reportedly losing faith as mining yields diminish. With concerns about the network's real-world utility persisting, it is said that many miners are planning to exit the ecosystem.

This impending miner capitulation adds urgency to the need for the PiCoreTeam to address foundational issues before the public mainnet launch.

Recent Pi news highlights a path full of both potential and risk. According to Dr Altcoin, the lessons of the Mantra crash should catalyze immediate action.

Key among his recommendations are establishing Pi Coin price controls, accelerating KYB/KYC verification processes, and committing to full transparency about tokenomics and project governance.

The PCT’s ability to act on these warnings could determine whether Pi grows or fails. As Dr Altcoin concludes, “Unless the PCT implements measures to stabilize the price, we could see Pi drop to around $0.30 in the coming months, before a potential recovery starting at the end of August 2025.” Now, all eyes are on the PiCoreTeam to see if they can do what’s necessary.