- Pi Network’s price is currently around $40, with potential to reach $100 if developers confirm the open mainnet launch in Q1; however, further delays could cause the price to drop to $18.20.
- The repeated KYC deadline extensions have raised concerns, making the mainnet announcement the key determinant of Pi’s next major price move.
Pi Network has been a subject of intense speculation in the crypto space, with investors eagerly awaiting its mainnet launch. Currently trading around $40, many are wondering: when will Pi Network hit the $100 mark?
Recent Price Trends and Challenges
Pi Network has struggled to break past the $50 mark over the past few weeks. This stagnation follows the developers’ recent decision to extend the Know Your Customer (KYC) verification deadline once again. With previous delays causing uncertainty among investors, the timeline for Pi’s price surge remains a pressing question.
Since its dramatic crash from a record high of $344 shortly after its launch, Pi Network has been trapped in a narrow trading range, fluctuating between $30 and $100. The coin is currently positioned near the lower boundary of this range, showing signs of a potential breakout or breakdown depending on upcoming developments.
Technical Indicators: A Bullish or Bearish Future?
From a technical standpoint, Pi Network appears to be in the accumulation phase, as outlined by the Wyckoff Theory. This phase suggests that a strong upward movement, or markup phase, could be imminent once a major catalyst emerges.
For Pi, the most likely trigger would be the official confirmation of its open mainnet launch. If developers announce a definitive date, analysts predict that Pi could surge to $100, particularly in February or March.
However, if the launch faces further delays, Pi’s price could take a bearish turn, potentially falling to a key support level of $18.20. This scenario could erode investor confidence, leading to an extended period of market uncertainty.
The Mainnet Launch: A Crucial Turning Point
A major factor influencing Pi Network’s price movement is the ongoing delay in its mainnet transition. The KYC verification deadline has now been pushed to February 28, marking the third extension. The developers claim this move will allow more users to migrate their tokens to the mainnet, but repeated delays have raised concerns about their ability to meet expectations.
While those missing the February deadline will still have six months to migrate their tokens, many investors worry that Pi Network’s history of missed deadlines could mean further postponements. If the open mainnet launch doesn’t materialize in Q1, Pi’s price could drop significantly as confidence in the project diminishes.
Final Thoughts: Is $100 Within Reach?
The coming months will be crucial for Pi Network’s price trajectory. If developers stick to their first-quarter mainnet launch promise, Pi could realistically hit $100. However, continued delays could lead to further price declines, testing investor patience.
For now, Pi holders should keep a close eye on the mainnet announcement, as it remains the key determinant of the coin’s next major price move.