Pi Network Price Set to Triple Following Migration Deadline Announcement
The Pi Network has just recently announced a major upgrade that could potentially skyrocket the coin's value. On January 5, the Pi Core Team confirmed that the much-awaited Open Mainnet is scheduled to be launched in the first quarter of 2025. This development could increase the utility and usability of Pi coins and make it possible to transfer and use them on other platforms.
This development was followed by a 5% surge in the price of Pi, indicating that the market has a positive attitude toward it. According to technical analysis, the coin is consolidating below the $50 mark. Key support is seen at $46 and resistance at $67. Analysts predict that once this resistance is broken, the rally may see the coin surge by up to 265% and hit the target of approximately $183.79.
This will be the first Mainnet migration for Pi Network, and this is an important point in its journey. This transition from a closed network to an open one is going to provide more opportunities to interact with other platforms, hence increasing the coin's utility. This would also attract more users and investors and drive up the demand, followed by an increase in the price of Pi.
However, it must be noted that the cryptocurrency market is highly volatile, and thus technical indicators do not guarantee anything about future performances. Investors have to do detailed research and also consider the risk in the market before making any decisions.
Disclaimer: This article is for information purposes only and should not be considered financial advice. All investments in cryptocurrency carry inherent risks, and one should do their research before making any investment decisions.
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