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Analysts believe that PI may be poised for a resurgence, with predictions ranging from $4 to $40, and some even speculating on a symbolic target of $314.159.
The PI Network’s X (Twitter) account has amassed over 4 million followers, surpassing major cryptocurrencies like ETH, SHIB, and XRP.
Is PI preparing for another rally?
The native token of the PI Network began trading on February 20, nearly six years after the controversial crypto project was launched. Some exchanges embracing the asset after the launch of the open network include BITGET, OKX, and MEXC.
PI’s price experienced significant volatility during its initial trading days, dropping below $0.65 and rising to nearly $3 by February 27. In the following days, it consolidated to its current valuation of around $1.90 (according to Coingecko), having previously merged to approximately $1.50.
PI Price, Source: Coingecko
According to some industry participants, it may be time for another rally. X user Coinvo claims that PI is “bouncing off a control point.” Investors suggest a price target of $1.58.
Another market observer using the X moniker Moon Jeff believes that the current price represents a fantastic buying opportunity. They are confident that PI will spike above $5, asserting that it is just a matter of time.
Last month, X user PI Blockchain predicted that the next wave could send the value to $4 or even $40. Others are even more bullish, envisioning a surge to a surprising $314.159—a symbolic link to π (pi) ≈ 3.14159.
It is important to note that such figures would require PI’s market capitalization to exceed $2 trillion (assuming a circulating supply of approximately 7 billion coins). As of the time of writing, its capitalization is around $13.4 billion, making such predictions highly implausible (to say the least).
Recent Achievements of the PI Network
The project has recently gained increasing popularity, which may be attributed to the aforementioned significant milestones. As reported by cryptopotato, the followers of Pi Network on X (formerly Twitter) have surpassed 4 million.
In comparison, renowned cryptocurrencies such as Shiba Inu (Shib), Ethereum (ETH), and Ripple (XRP) trail behind. The PI Network is particularly popular in Asia, with countries like South Korea, Vietnam, China, Japan, India, Singapore, and others becoming strongholds.
Not long ago, Wu Blockchain estimated that the project’s user base in South Korea exceeds 1.3 million, outpacing the local customer bases of giants like Binance and Coinbase.
