Pi Network is generating significant buzz as its mainnet launch approaches in late 2024. With the ongoing KYC verification process, anticipation surrounding the Pi coin’s price and potential conversion rates is at an all-time high.
Currently valued at approximately $34 and boasting a year-over-year increase of over 29.50%, Pi has attracted a massive following of over 60 million registered users, with 13 million already completing KYC.
Understanding Pi Tokenomics
Pi Network’s tokenomics are complex. Of the maximum 100 billion Pi coins, only 68 million are currently in circulation. To stabilize value, 80% of mined Pi is locked for three years, while the remaining 20% is allocated to the core team. The distribution of this 20% includes mining rewards (65%), ecosystem growth (10%), and exchange liquidity (5%).
Several factors will influence Pi’s value post-mainnet launch, including user adoption, the vesting period, and overall market conditions. A restrictive vesting period could limit liquidity and hinder price growth, while an overly generous distribution could lead to price declines due to oversupply.
Price Predictions: A Cautious Outlook
Predicting Pi’s future price is challenging due to the lack of concrete information about its tokenomics and market dynamics. While some estimate a maximum supply of 70 to 90 billion Pi coins, the actual figure remains unknown.
Analysts suggest a potential price range of $43 to $47 immediately following the mainnet launch, gradually climbing to $58 to $74 as the market adjusts. By August 2024, the price could stabilize between $73 and $86. Long-term projections indicate a potential price range of $55 to $70 by the end of 2024, with the possibility of reaching $200 or more in 2025 if widespread adoption occurs.
It’s important to note that Pi has not undergone an ICO or crowdfunding, meaning its price will be solely determined by its utility and tokenomics.
Current Market Sentiment and Trading Restrictions.
As of September 14, 2024, Pi’s price could potentially reach $111.52, nearing its all-time high of $119. Technical analysis suggests a bullish outlook with a projected 200-day SMA of $60.75. However, the RSI indicates a neutral market sentiment.
Crucially, Pi is currently in its pre-release phase and cannot be bought, sold, or exchanged. Trading is prohibited until Phase 3, when the mainnet launches and users gain control of their public and private keys.
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice.
Cryptocurrency investments are highly volatile, and it’s essential to conduct thorough research before making any decisions.