How High Wil Pi Network Price Rise After Mainnet Launch?

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As a seasoned researcher with a knack for deciphering the intricacies of the crypto market, I have witnessed numerous rollercoaster rides, from Bitcoin‘s meteoric rise to Ethereum‘s groundbreaking innovations. The recent sideways movement of Pi Network’s price, while seemingly uneventful, holds a promising potential for the upcoming mainnet launch in Q1 2025.

The mainnet launch is undoubtedly the pièce de résistance for Pi Coin, transforming the network from a secluded mainnet to a publicly accessible blockchain. This transition will not only unlock the potential of pioneers to convert their mined tokens but also pave the way for a larger user base.

The postponement of the mainnet launch from December 2023 to Q1 2025, although initially met with skepticism, seems like a wise decision now. It provides more time for KYC verification and migration of tokens, ensuring a fair opportunity for all pioneers.

Looking at the current price action, I see signs of accumulation reminiscent of October 2023, followed by a surge in November. The Pi Network’s price could potentially surge towards its resistance levels at $100 and $121 if the mainnet launch hype materializes.

However, a word of caution: a crash below the key support at $37.21 could invalidate this bullish view. As they say in crypto, ‘bears make money when you sleep, but bulls make money when you’re awake.’ So, keep your eyes wide open and your stop losses close!

And to lighten up the mood, let me leave you with a joke: Why don’t we ever let numbers go to college? Because they already have too many degrees!

The cost of Pi Network remained stable this week, following a similar trend observed in other digital currencies such as Bitcoin and Ethereum. This period of consolidation might lead to a strong resurgence, given that the mainnet launch, anticipated for the first quarter of 2025, is approaching.

Pi Coin Mainnet Launch Ahead

In the initial quarter of the year, the primary driving factor for Pi Network’s price increase is expected to be the long-awaited launch of the mainnet. This launch will transition the network from a private mainnet to a publicly accessible blockchain open to all users. Additionally, this event will allow miners who have been accumulating the tokens to either exchange them for traditional currency or choose to keep holding them.

Originally planned for a December release this year, the developers of Pi Network have chosen to delay the mainnet launch. Instead, they aim to introduce the mainnet during the first three months of the coming year.

To provide a greater opportunity for participants, they’ve decided to delay the launch of the mainnet, allowing more users to complete Know Your Customer (KYC) verification and then transfer their tokens to the mainnet. Although more than 18 million users have completed KYC, only around 8 million have transferred their tokens. Due to this, they feel that carrying out the migration without over 10 million participants would be unjust.

The mainnet launch for Pi Network is expected to take place around either February or March, as the current transition period concludes on January 31st.

Pi Network Price Analysis Points To More Gains

In our analysis of Pi Coin’s price prediction published on Friday, we highlighted its potential for fluctuations followed by a quick recovery and reaching the $100 mark soon.

The daily graph demonstrates that the coin’s value plummeted dramatically from around $100 in November to its current price of $50. However, even after this steep decline, Pi has stayed above its rising trendline, connecting the lowest points on September 27th, November 28th, and last week. This indicates that short sellers are hesitant to venture below that support level due to fear.

As an analyst, I’ve observed that the Pi Network price has shown significant resistance slightly above its 200-day Exponential Moving Average, which is often considered a key level. Moreover, it appears to be stuck at the highest swing point reached in July this year. This prolonged consolidation might be indicative of accumulation, much like the buildup we saw in October before a significant price surge in November.

Anticipation surrounding the mainnet launch of Pi Network could potentially cause its price to spike in the opening quarter of 2025. In such a scenario, it would be prudent to keep an eye on two significant resistance levels: $100, which was the peak in November, and $121, representing its highest point in 2024. The former target lies approximately 50% above the current value, while the latter is roughly 150% higher.

 

If the price of Pi coin drops below its crucial support at $37.21 (the lowest point it reached on October 16), this would contradict or negate the optimistic perspective we currently hold.

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2024-12-30 15:40