Price Soars by 13% Weekly, What’s Next?

TL;DR

• PI jumped by double digits in the past week, but some analysts remain bearish. Growing exchange reserves and upcoming unlocks of millions of tokens could add selling pressure.

• TransFi joined as a KYB-verified fiat on-ramp partner via Onramper, enabling direct PI purchases with local currency, while the .pi domain auction was extended to September, letting users create simpler wallet addresses similar to .eth or .bnb.

What Now?

Pi Network’s native cryptocurrency finally managed to post some substantial gains. It spiked above $0.46 on August 10 before retreating to its current value of $0.40 (according to CoinGecko’s data), representing a 13% increase on a weekly basis.

The community now seems split on their predictions regarding PI’s next potential move. X user Friedrich said he opened a long position, envisioning a “deviation” that would result in big gains. 

However, the analyst with the moniker “pinetworkmembers” was not as bullish. They advised investors to “sit down and wait,” claiming the $1 target the community has been hoping for seems “unlikely to happen.”

Meanwhile, the amount of PI stored on crypto exchanges continues to rise. As of this writing, over 407 million tokens are held on such platforms, with Gate.io alone accounting for 194 million. The shift towards centralized exchanges may not lead to mass exit, but it surely increases the immediate selling pressure.

The upcoming unlocks may also negatively impact the price. Data shows that almost 170 million PI will be freed up in the next 30 days, which will allow investors to offload tokens they have been waiting for a long time. August 16 will be a record day, with 9.8 million coins released.

Recent Pi Network Advancements

PI’s price pump in the last week coincides with some major developments associated with the project. Just a few days ago, the X account Pi News disclosed that TransFi has completed its KYB (Know Your Business) process as a verified third‑party fiat on‑ramp partner.

Integrated with the Pi Wallet via Onramper, the platform lets users buy and convert PI tokens directly with local currency using various payment methods. Other KYB-verified partners include Onramp.money and Banxa.

Prior to that, Pi Network reminded users that the .pi Domains Auction has been extended to the end of September, giving them more time to innovate, build, and bid for their applications. 

These domains let Pioneers customize their Pi Wallets with simple, name-based addresses ending in .pi, making payments and interactions easier – much like Ethereum’s .eth or BNB’s .bnb.