The world of cryptocurrency is once again in a stir and this time the topic of discussion is – Pi Network. Recently, the price of Pi token has seen a sudden jump and chart patterns are indicating that it can see a rise of up to 135% in the coming days. This news is especially encouraging for millions of Pi users who have been waiting for its mainnet launch and exchange listing for a long time.
Table of Contents
- What is Pi Network and Why is it in the News?
- Pi Token Current Price and Chart Analysis
- Will This Price Remain Stable?
- Pi Core Team’s View
- Important Advice for Investors
- Will Pi Become the Next Bitcoin in the Future?
- Conclusion
What is Pi Network and why is it in the news?
Pi Network is a mobile-based crypto project, which was created by graduates of Stanford University. Its aim is to create a cryptocurrency that even common people can mine from their mobile phones without any technical knowledge.
Its most special feature is – its mining process. Mining traditional cryptocurrencies (like Bitcoin) requires heavy computing power, but Pi Network has made it easy through mobile. This is the reason why more than 45 million people have joined this network.
Pi Token Current Price and Chart Analysis
According to Crypto.news, the price of Pi Network recently reached the level of $0.144, which is a strong jump compared to some time ago. According to technical analysis, the chart of Pi token is forming a “double bottom pattern” – this is a sign that usually points to a big boom in the coming times.
If this pattern is fully activated, then a 135% increase in the price of Pi is considered possible, which can take it to $0.34.
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Will this price remain stable?
This question comes to the mind of every investor. But the truth is that the real price of Pi Network will be decided only when its token is fully launched on the open mainnet and is available for trading on major exchanges (such as Binance, Coinbase).
At present, whatever trading is happening is happening on some informal platforms, whose liquidity and legality are questionable. That is, the current prices are based on the “IOU (I Owe You)” model and may differ from the actual price.
Pi Core Team’s View
The Pi Network team is continuously engaged in mainnet development. The team says that they are focusing on user data, KYC process, and use-case development so that the network’s ecosystem is strong and reliable at launch.
Recently, the team organized events like PiFest, which involved merchants and users from around the world in the practical use of the Pi token.
Important advice for investors
The potential rise in the price of Pi Network may seem like a golden opportunity for investors, but it also involves some significant risks:
- The Pi token is not yet listed on public exchanges
- The price based on the IOU model can be volatile
- There is a possibility of delay in the mainnet launch and KYC process
Therefore, gather complete information before making any investment and take steps according to your risk tolerance.
Will Pi become the next Bitcoin in the future?
It is too early to say, but if Pi Network is able to successfully implement its plans and build a strong ecosystem, it can certainly become a big player in the crypto market.
Conclusion
The current boom of Pi Network has once again caught the attention of investors and the crypto community. While a potential rise of 135% may be exciting, the risks associated with it cannot be ignored. Now all eyes are on Pi’s mainnet launch and official exchange listing.
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