TLDR
- Pi Network price has risen 2% amid broader crypto market recovery
- Analyst Kim H Wong predicts potential rally to $3 based on key factors
- Growing adoption includes a US real estate firm accepting Pi as payment
- Pi Domain auctions and 2FA authentication are driving interest
- March 21 token unlock of 21.2 million Pi (worth $42.39 million) may impact price
Pi Network’s cryptocurrency has shown signs of recovery in recent market activity. The price increased by nearly 2% today, bringing it to $1.17 per token.
This uptick comes as part of a broader recovery in the cryptocurrency market. Trading volume for Pi reached $370 million, though this represents a 35% drop from previous levels.
The token has been moving between $1.12 and $1.20 over the past 24 hours. This range suggests a period of price consolidation after a difficult week that saw a 31% drop in value.
Market analyst Kim H Wong has shared an optimistic outlook for Pi Network. He believes the cryptocurrency could rally to the $3 mark in the near future.
Wong noted that since its debut last month, Pi has traded between $0.60 and $3. The current price of around $1.17 sits near the middle of this range.
The initial surge in Pi Network’s price was attributed to market volatility and growing interest in the token. However, Wong pointed out that the lack of major announcements from the Pi team has led to price instability.
Community members have expressed frustration over the absence of updates from developers. This silence has contributed to the recent price decline and market uncertainty.
After listed for trading on February 20,2025, Pi coin has been trading between $0.60 and $3 and is now trading around $1.15 with support at $1.05. After this initial boom and bust, Pi coin is going to trade as a regular crypto and is now waiting for news to drive its price. Of… pic.twitter.com/FNz70GuSoO
— Kim H Wong (@Time_and_Trade) March 19, 2025
Positive factors could drive price higher
Despite these challenges, several positive factors could drive Pi’s price higher. Wong identified potential exchange listings, merchant partnerships, and ecosystem improvements as key catalysts.
Adoption of Pi as a payment method is already beginning. A leading US real estate firm has started accepting the cryptocurrency, which could encourage wider use.
The introduction of Pi Domains has generated substantial community interest. These domains can serve as digital addresses for Pi-based websites and services.
The domain auction process also reduces the circulating supply of Pi tokens. This reduction in available tokens could potentially boost the cryptocurrency’s value over time.
Pi Network has built an impressive user base with approximately 70 million registered users. About 20 million of these users have verified their identities as “Pioneers” in the network.
The Pi team recently introduced two-factor authentication (2FA) for users. This security upgrade aims to ensure a smooth transition to the mainnet and could increase investor confidence.
Token unlocks coming up
While many factors point to potential growth, investors should be aware of upcoming token unlocks. On March 21, about 21.2 million Pi tokens worth $42.39 million will be released into circulation.
This increase in supply could put downward pressure on the price. Over the next 12 months, a total of 1.6 billion Pi tokens valued at $1.88 billion are scheduled to unlock.
In other news, Pi Network was not included in Binance’s new “Vote to List” program. This initiative allows users to vote on which tokens should be listed on the exchange.
Pi’s exclusion stems from technical requirements of the program. Only projects on the BNB Smart Chain network are eligible, while Pi operates on its own blockchain.
This development disappointed many Pi supporters. Earlier voting had shown strong community interest in seeing Pi listed on Binance.
Some community members have argued that projects with strong fundamentals like Pi should be supported over meme coins. They point to Pi’s growing utility as a reason for potential exchange listings.
Despite current challenges, Wong suggests that now might be a good time to buy and hold Pi. He believes the cryptocurrency has the potential for a rally in the coming months.
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