Pi Network (PI) May Explode by 75% but Under This Critical Condition (Analyst)

An ascent to $0.37 or a further crash: what’s next for PI?

While Pi Network’s native token has been on a major decline over the last several months, some community members believe a rebound may soon replace the free fall.

One analyst who supports that thesis outlined a vital condition that must be met for this to happen.

75% Pump Incoming?

PI has resonated with the broader crypto market crash, with its price slipping by 5% daily to $0.21 (per CoinGecko’s data). While its current valuation represents a massive 92% decline compared to the all-time high of $3 reached in February, the X user Marzell saw some encouraging signals.

In a recent post, he opined that PI “is holding firm above the $0.21 support, showing clear signs of accumulation.” According to the analyst, a move beyond $0.26 could open the door to an ascent to $0.37 (a level last observed towards the end of September).

The X user PiNetwork DEX expressed a similar viewpoint. They claimed PI has stabilized at the $0.20 – $0.22 range and could be headed toward $0.29.

It is worth mentioning that some bearish factors, such as the multi-million token unlocks, may prevent such a rally. Over 150 million PI are scheduled for release in the next 30 days: a development which will give investors the chance to sell coins they have been waiting for some time.

In addition, the amount of tokens stored on centralized cryptocurrency exchanges remains substantial. Data shows that the figure is approximately 424 million, with more than half of that located on Gate.io.

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Recent Pi Network Developments

PI’s price collapse has occurred despite the numerous developments surrounding the project behind the token. Towards the end of October, Pi Network Ventures, an entity within the ecosystem that invests in startups and businesses across multiple industries, made its first investment in the AI sector. It collaborated with OpenMind, a company developing an operating system for robots “to think, learn, and work together – like Android for robots.”

A few days later, Pi Network surpassed the milestone of 100 million downloads. In comparison, the applications of industry leaders like Coinbase and Crypto.com lag behind with approximately 50 million and 10 million downloads, respectively.

Towards the end of last week, Pi Network’s team announced a new update for the Pi Node, upgrading it to version 0.5.4. Its ultimate goal is to improve accessibility, reliability, and address issues raised by the Pioneers.