- The Pi Network’s price could rise by 135% in April due to strong technical indicators, potential exchange listings, and the likelihood of a significant token burn to reduce supply.
- These factors position Pi for a promising rebound despite recent challenges.
The Pi Network, a cryptocurrency that has faced significant challenges recently, might be gearing up for a remarkable comeback. After a sharp decline of over 74% from its peak, the Pi coin’s price plummeted to $0.80, its lowest level since February 2022. However, experts believe that several factors could drive its value up by 135% in the coming weeks.
1. Strong Technical Indicators Signal a Potential Rebound
Despite recent setbacks, technical analysis suggests that the Pi Network could be on the brink of a surge. The four-hour chart reveals a bullish double-bottom pattern at $0.7663, a classic reversal signal that often marks the end of a downtrend. Additionally, the coin has formed a giant wedge pattern, with converging trendlines hinting at a potential breakout.
Moreover, the Pi Network has settled at the 78.60% Fibonacci Retracement level, a strong support zone. Bullish divergence patterns in the Relative Strength Index (RSI) and MACD suggest a change in momentum, supporting a price target of $1.80—135% above the current price.
2. Anticipation of Major Exchange Listings
Another factor that could propel Pi’s price is its long-awaited listing on major exchanges. While some platforms, such as Bybit, have been hesitant to list Pi due to concerns about transparency, sentiment among traders remains bullish.
A recent Binance user vote overwhelmingly favored listing the Pi coin, which could unlock massive trading volume. With a market cap exceeding $7 billion and a daily volume of over $300 million, a listing on major exchanges would likely drive demand and increase the coin’s value.
3. Potential for a Massive Token Burn
One of the biggest concerns around the Pi Network is token dilution, with 6.7 billion Pi coins already in circulation against a maximum supply of 100 billion. To address this, developers are expected to announce a significant token burn soon. This burn could target unclaimed mined tokens, drastically reducing supply and boosting the coin’s scarcity and value.
Additionally, the introduction of fee burns as the Pi Network’s ecosystem grows could further limit supply in the long term.
A Promising Future for Pi Network
While the Pi Network has faced challenges, strong technical indicators, the possibility of exchange listings, and potential token burns make a compelling case for a price surge. If these factors align, Pi’s price could climb to $1.80 in the near future, offering substantial gains for investors.