The Pi Network price has been moving sideways recently, echoing the broader consolidation in the cryptocurrency market, including Bitcoin and Ethereum. However, this calm may set the stage for a significant rebound as anticipation builds for the mainnet launch, expected in the first quarter of 2025.
Mainnet Launch: A Key Catalyst for Pi Network
The Pi Network’s upcoming mainnet launch is poised to be a defining moment. This transition will transform the network from an enclosed mainnet to a public blockchain accessible to all. For pioneers who have been mining Pi tokens, the launch will provide the opportunity to convert their tokens into fiat or continue holding them.
Originally scheduled for December 2024, the mainnet launch was postponed to give more users time to complete their Know Your Customer (KYC) verifications and migrate their tokens. While over 18 million pioneers have undergone KYC, only 8 million have migrated their tokens to the mainnet. The developers aim to surpass 10 million migrations to ensure fairness before the public launch.
The mainnet launch is now expected to occur in February or March 2025, as the grace period for KYC and migration ends on January 31, 2025.
Pi Network Price Analysis: Signs of Potential Gains
Recent price movements suggest that the Pi Coin could experience significant gains leading up to the mainnet launch. While the coin has declined from its November high of $100 to around $50, it remains above a critical ascending trendline. This trendline connects key support points from September 27, November 28, and last week, indicating strong resistance to further declines.
Additionally, the Pi Network price has found robust support near the 200-day Exponential Moving Average (EMA), a critical technical indicator. This consolidation phase resembles the accumulation observed in October, which preceded a surge in November.
If the mainnet launch generates enough hype, Pi’s price could see a sharp increase in the first quarter of 2025. Key targets include the November high of $100 and the 2024 peak of $121. Achieving these levels would represent a 50% and 150% increase from current prices, respectively.
Conclusion: Pi Network’s Potential Surge
The Pi Network mainnet launch could act as a major catalyst for the coin’s price in early 2025. With strong technical support, growing anticipation, and a larger user base completing KYC and migrations, Pi Coin is positioned for potential gains. Investors should watch for a break above the $100 resistance level, followed by $121, as key milestones in the coming months.
Disclaimer: This article is not financial or investment advice. Cryptocurrencies are highly volatile and carry inherent risks. Always perform your own research before making investment decisions.
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