- Key drivers include potential exchange listings, increasing adoption of DApps, and partnerships with major payment platforms that could pump the Pi Coin price.
- Analysts foresee Pi Coin forming support at $2.1 and resuming its upward trend, with expectations to rally towards $3 and potentially reach $4 or higher.
Amid the launch of the Pi Network mainnet earlier this week, the native cryptocurrency Pi coin witnessed a strong 264% gain over the past week. Following the high of $2.80 earlier on Thursday, the Pi coin price has witnessed a 20% fall as the overall crypto market faced strong correction earlier today, pushing Bitcoin under $80,000. Despite this, market analysts continue to stay optimistic, expecting another 50-100% surge from here onward.
Will Pi Coin Price Rally to $4?
Following the recent retracement, Pi coin seems to be forming a support at $2.1 and resuming its upward journey again. As mentioned in our last news article, the Pi Network’s native cryptocurrency surged all the way to $2.80 on Thursday before retracing back.
But now that the Pi token recovers from the initial sell-off, analysts have chipped in again expecting the altcoins to rally to $3, and further beyond to $4. In his message on the social media platform analyst Kim Wong shared insights outlining key events that could potentially drive a significant surge in Pi’s price. The analyst mentioned a few key factors which could contribute to the rally ahead.
- Pi Coin Exchange Listings: Following the launch, market analysts are now betting on listing the Pi Network token on some of the top crypto exchanges like Binance. Following the listing on OKX, the Pi Coin price surged 36% amid a major liquidity boost. “If a major exchange greenlight listing, history suggests a 50-100% price pop isn’t out of the question,” said analyst Wong.
- Rising Popularity: The analyst expects the Pi popularity to rise further as new believers join in to support the Pi Network thereby boosting the demand for the altcoin.
- Expansion of Pi Ecosystem: An increase in decentralized applications (DApps) within Pi’s ecosystem could enhance its utility and attract greater investor interest.
- Partnerships With Payment Platforms: Partnerships with major online retailers and merchants could boost the legitimacy and value of Pi Coin, making it increasingly appealing to potential buyers.
- Endorsements and FOMO buying: Analyst Wong expects Pi Network to get endorsements from prominent crypto media outlets and industry experts to boost Pi’s visibility. Additionally, a rising Pi coin price might trigger Fear of Missing Out (FOMO) among investors, driving emotional buying and further accelerating its price growth.
Technical Chart Prediction
Pi Network is gaining traction, with growing speculation of a new all-time high (ATH) on the horizon. Enthusiasts are buzzing with predictions of $PI reaching $5 soon, signaling increased optimism around the digital asset.
