- The Pi Network’s mainnet launch, rescheduled for Q1 2025, is expected to drive significant price increases for its coin as the transition to a public blockchain creates increased accessibility and liquidity.
- With strong support levels and past accumulation patterns, Pi Network could see a surge towards $100 or even its 2024 high of $121.
The Pi Network, a cryptocurrency developed with a focus on accessibility and community-driven mining, has seen significant anticipation surrounding its upcoming mainnet launch. As the project gears up for this milestone, many investors and users are speculating on the potential impact on the Pi coin price. With expectations high, the question remains: how far could Pi Network’s price rise after its mainnet launch?
The Countdown to the Mainnet Launch
The Pi Network has been steadily expanding its ecosystem through its unique approach to mining and user verification. The postponed mainnet launch, initially expected to happen this December, has now been rescheduled for the first quarter of 2025. The delay is strategic, allowing more pioneers to complete the Know Your Customer (KYC) verification and migrate their tokens to the mainnet. As of now, over 18 million users have undergone KYC, but only 8 million have successfully migrated.
Factors Driving Anticipation
The Pi Network mainnet launch will transition from a closed mainnet to a public blockchain. This change will enable token holders to convert their Pi into fiat or continue holding their digital assets. Such a transition is expected to bring about increased accessibility and liquidity, fueling potential price surges.
Historical Context and Price Analysis
Pi Network’s price movement has been relatively stable in recent months, following a sideways trend similar to other major cryptocurrencies like Bitcoin and Ethereum. However, this consolidation phase could be a precursor to a significant rally, especially as the mainnet launch approaches.
Accumulation and Support Levels
Technical analysis indicates that Pi Network has found substantial support at critical levels. The coin has remained above an ascending trendline, touching key support levels since September and November. Additionally, Pi has been holding above the 200-day Exponential Moving Average (EMA), signaling strong bullish sentiment.
Potential Price Movements
As the mainnet launch draws near, experts forecast a surge in Pi Network’s price. There is potential for a rise to the resistance level of $100, a significant level last seen in November. Beyond this, the price could even reach its all-time high of $121, reflecting gains of up to 150% from current levels.
Risks and Considerations
While the bullish outlook is promising, caution is advised. A potential drop below the key support level of $37.21 would invalidate the bullish sentiment, posing risks for investors.
Conclusion
The upcoming mainnet launch of Pi Network presents a crucial turning point for its price trajectory. With substantial accumulation and strong support levels, a significant surge could be on the horizon. However, as with all investments, careful monitoring of market movements and staying informed will be vital for those interested in riding the wave of this cryptocurrency’s growth.