Pi Network Price Could Crash 30% Before Revisiting $100

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As a seasoned crypto investor with over a decade of experience navigating the volatile digital asset market, I have learned to expect the unexpected and adapt swiftly to changing trends. The recent downward spiral of Pi Network’s price, dipping by 10% in the last seven days, is no surprise to me. However, predicting a 30% drop before reaching $100 seems a bit too pessimistic considering its previous high of over $300.

The cost of Pi Network has noticed a decline in the past week, decreasing by 10%, coinciding with broader market declines. After a significant surge in November, the PI is currently adjusting, returning to the bearish patterns that have also led Bitcoin to hover around $95,000. This readjustment reflects the volatile characteristics of crypto markets and may indicate additional drops before a possible rise back to the $100 level.

Is Pi Network Price Set for a 30% Drop Before Reaching $100?

Following a significant 12% increase in the past month, the Pi Network appears to be following a pattern seen in other cryptocurrencies, potentially indicating a possible decline. Despite reaching its peak of $330.65 on December 30th, 2022, Pi has plummeted by approximately 85.51%. The current market indicators suggest a potential 30% drop, which would estimate Pi’s value at around $100 ($33 * (1 – 30%)).

From my observations as a researcher, if the market recovers, Pi could potentially surge toward the $50 resistance level. This prediction aligns well with trends observed in significant crypto markets such as Bitcoin, which has been edging close to the $95,000 mark. Similarly, Ethereum, Solana, and XRP have seen drops, suggesting a broader market correction. At present, Pi is trading at $48.11, representing a 2% decrease in the last day.

The Pi Network’s value has shown significant fluctuations since its creation, with recent trading sessions suggesting a downward trajectory as depicted in the chart. It currently hovers around important support levels of approximately $36.87 and $33.14. Previous spikes in activity played a significant role at one point propelling the price up to $100, which is a psychologically significant figure.

On the 4-hour chart, the technical indicators show a somewhat conflicting trend: The Relative Strength Index (RSI) is hovering around the 50 level, signifying a neutral momentum, while the Moving Average Convergence Divergence (MACD) indicates a slight bearish crossover, pointing towards potential pressure that could push prices down.

Pi Network Price Gears Up for 2025 Launch

With the Pi Network scheduled to debut on the Open Network, particularly in Q1 2025, there’s been much discussion about KYC verification being an essential step. This procedure is vital for those eager to fully interact with the Mainnet. A smooth transition to the Open Network relies heavily on verifying a large number of users through KYC processes.

With this verification, pioneers can actively engage in the system by utilizing their Pi tokens once the network becomes functional. The aim is to connect users who have undergone KYC with those who have moved to the Mainnet, thereby narrowing the gap. This strategic readiness could potentially contribute to market recovery as the launch date nears.

To ensure a broad representation on the Open Network, it’s important to minimize the disparity between the number of Pioneers who have completed KYC (Know Your Customer) and those who have migrated to Mainnet. This will allow us to involve more Pioneers in the network!

— Pi Network (@PiCoreTeam) December 27, 2024

The potential price of Pi Network could decrease by around 30% due to market volatility as well as preparations for its anticipated release in 2025. By implementing strategic adjustments and adopting a thorough “know your customer” approach, it has the power to bounce back and experience significant growth in the future.

 

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2024-12-27 15:18