* With the Pi mainnet scheduled to launch in late 2024 and the KYC process underway to migrate Pi coins, speculations about the coin's possible price and conversion rate have been swirling around the internet.
Currently, the Pi coin price is hovering around $36.10 with a gain of over 38.51% in a year according to CoinMarkeCap data. After the mainnet launch, the Pi coin price is expected to skyrocket with much greater user participation. There are over 60 million ‘Pioneers’ registered with Pi and out of them, 13 million have completed the KYC process. Out of these, 6 million Pioneers have migrated to the Mainnet.
* In this article, I will provide a speculative analysis of how much the value of Pi Coin will skyrocket when its mainnet is launched.
Tokenomics of Pi Coin
As of October 6, 2024, Pi Network has a total supply of 68 million tokens, out of a maximum of 100 billion tokens, which is the total supply of Pi. Of the total mined Pi, 80% is locked for a three-year 'vesting period' to keep the value stable. The remaining 20% (13.6M) is issued to the Pi core team, of which 65% (8,840M) will be used to pay mining rewards, 10% to develop the ecosystem, and 5% to provide liquidity on exchanges.
*** So there will be 8,840,000 Picoin rewarded and in circulation after Mainnet.
Many factors, such as mainnet launch, user excitement, and positive community impact, will play a key role in determining its value.
On the other hand, if Pi Network satisfies legal values and is widely listed on many exchanges, it will also solve many problems for the project because demand exceeding supply will also contribute to Pi coin's strong growth.
We all know that the Pi Network community is very large. And the initial circulating supply of only 8,840,000 Pi coins after Mainnet really cannot meet the needs of hundreds of millions of users, Pi coin community and individual investors. Not to mention large speculators.
What could be the speculative price of Pi Coin after mainnet launch?
However, there are many difficult issues with Pi tokenomics because no one knows the exact momentum or number of Pi coins that will be in the future. This makes it difficult to predict its future value. For example, here is a price estimate from a Reddit post for a maximum supply of 70 to 90 billion Pi coins.
*** If the mainnet launches in 2024, Pi could see a significant price increase following wider adoption and the 'peer-to-peer' utility mentioned in its white paper. Although initially, Pi could trade between $43 and $47.
But as the market finally absorbed the impact of the launch, prices began to rise. This rally could fluctuate between $58 and $74 in the early stages. By August, prices continued to rise, stabilizing at around $73 to $86.
In the short term, Pi's price is expected to fluctuate as it attracts more users and becomes more integrated into the broader cryptocurrency market. Long-term predictions suggest that Pi could potentially trade between $55 and $70 by the end of 2024, and potentially reach $200 or more by 2025 if the network gains widespread adoption.
*** Currently, Pi’s Technical Analysis shows a strong upside potential after the mainnet launch with wider participation. The 200-day simple moving average (SMA) is forecast to rise and the SMA is expected to reach $60.75 in the coming weeks, indicating bullish sentiment. The Relative Strength Index (RSI), currently at neutral levels, indicates a balanced market sentiment.
Note that, Pi Coin has not done any ICO or crowdfunding to provide additional liquidity to the project. So any price fluctuations that PI coin experiences are solely due to its utility and tokenomics model.
