Pi Network has recently fallen into a deadlock. The $PI price has been fluctuating between $0.20 and $0.22 for several weeks, with little clear movement up or down. The team is accelerating the integration of payments, but market response remains lukewarm. Where is the problem? First, there is an unlock wave of about 4.5 million PI in the next 30 days, which hangs over everyone's head and discourages participation; second, external capital enthusiasm is not high; third, genuine demand has not yet emerged. To break the deadlock, efforts need to be made in several directions: one is to enable more merchants to actually use $PI for payments, another is to develop native applications to attract real users, and finally, to regulate supply through mechanisms like burning or locking tokens. These could be potential turning points.