Pi Network price recently surged to $60, reflecting a 25% increase from its previous low last week and an impressive 101% gain from last year’s lowest point. This bullish movement comes amid rising optimism around the launch of Pi Network’s mainnet and favorable shifts within the broader crypto market.

Factors Behind Pi Network’s Price Surge

Pi Network’s latest price rise aligns with the ongoing crypto market rally, with Bitcoin recently breaking through the $82,000 mark for the first time. Other leading cryptos, such as Ethereum and Cardano, are also enjoying upward momentum. With these favorable market conditions, Pi Network appears poised to achieve key milestones that would move the project closer to its mainnet launch and increase the token’s utility.

Key Milestones for Pi Network’s Mainnet Launch

The Pi Network developers are working to meet several essential criteria for a successful mainnet rollout, including Know Your Customer (KYC) compliance and growing the ecosystem of applications accepting Pi Coin as a payment method.

KYC Verification Process


To ensure regulatory compliance, Pi Network’s developers have made KYC verification mandatory for users to participate in the mainnet. Pioneers have until November 30 to complete their verification; otherwise, they risk losing their coins. This KYC process is expected to support the network’s long-term stability by ensuring that only verified users can access the ecosystem.

Expanding the Ecosystem


Another prerequisite for the mainnet launch is a robust ecosystem where Pi Coin is accepted for various applications. To showcase its progress, Pi Network recently hosted PiFest, an event highlighting merchants already accepting Pi as payment. The goal is to have at least 100 applications integrate with Pi Coin before the mainnet launch, helping to create a sustainable, decentralized ecosystem.

Technical Indicators Supporting Price Growth


The technical analysis of Pi Network’s daily chart suggests a bullish outlook. After rebounding from a low of $30.1 in October, Pi Coin climbed to $100 on October 26. Following a correction to $48.10 on November 2, the token has been in a recovery phase, with both the 50-day and 25-day moving averages showing upward movement.

Outlook for Pi Network Price

With positive technical indicators and a roadmap that aligns with favorable market conditions, Pi Network is likely to continue its upward trend. Analysts suggest that Pi Coin could approach the key resistance level of $100, a move that would represent a 71% gain from its current price. The token’s Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators both point to growing momentum in the coming days.

Risks and Support Levels to Watch

Despite the positive sentiment, Pi Coin could face setbacks if it fails to meet the necessary prerequisites for mainnet launch. Additionally, if the token drops below the $48.10 support level, it could signal a bearish trend, weakening the recovery momentum.

Pi Network is one of several tap-to-earn tokens experiencing price recovery, joining others like Citizen, Notcoin, and Hamster Kombat. These tokens have seen significant gains over the past month, indicating rising investor interest in the tap-to-earn model as a complement to traditional crypto investments. However, continued market volatility remains a key risk.

Conclusion

The Pi Network’s recent price recovery aligns with increasing optimism in the crypto market and progress toward a potential mainnet launch. While regulatory improvements and strategic milestones are boosting investor confidence, the token still faces volatility risks. Meeting KYC compliance, expanding its application ecosystem, and maintaining its price above key support levels will be essential to realizing Pi Network’s long-term growth potential.

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