Amid a general recovery in the cryptocurrency market, the price of Pi Network surged over 9% today. Moreover, this aligns with market expectations, which anticipate a rebound in the price of Pi Coin due to various factors. Furthermore, a top expert revealed that the cryptocurrency could reach $3 in the coming days, further fueling investor optimism.
Pi Network Price Surge: What are the Prospects?
The price of Pi Network has risen by over 9% today, trading at $0.59, while its daily trading volume has decreased by 37% to $298.5 million. Notably, in the past 24 hours, the cryptocurrency's price has fluctuated between $0.5375 and $0.6102, reflecting a turbulent market situation.
Meanwhile, the recent recovery suggests that market participants are regaining confidence in the asset. Additionally, this week’s low unlock volume of Pi Coin has further boosted investor sentiment, which may contribute to the recent rise of the token.
Quick Guide to Pi Network Unlocks
According to data from PiScan, as of April 11, an average of 1.5 million Pi tokens will be unlocked. The highest unlock amount in the next 30 days will be on April 18, approximately 9.8 million Pi, worth about $5.7 million at current prices.
It is worth noting that data also shows that a total of 160.74 million Pi tokens will be unlocked in the next 30 days, valued at approximately $93.77 million. Considering this, experts urge the Pi Core team to burn tokens to offset concerns about a significant influx of funds into the market.
Therefore, if the team manages to burn tokens or make any significant announcements, it could trigger a strong surge in asset prices. Furthermore, the surge in adoption rates for Pi Network has bolstered investor confidence.
What's next?
In the context of a sustained recovery, a top expert stated that the price of Pi Coin is expected to reach a new all-time high, thereby igniting market optimism. As a backdrop, renowned cryptocurrency analyst MOON JEFF predicts that the price of Pi Network will soar to $3 by June.
This optimistic prediction is made against the backdrop of market turbulence, as the value of PI has been experiencing a decline since February 27. Despite a bearish trend, MOON JEFF still believes that once global trade tensions ease, PI will rebound and break through resistance levels.
Analysts claim that Pi Network has significant price potential, possibly surpassing its current all-time high. MOON JEFF's predictions indicate substantial upside potential for PI, making it an attractive prospect for investors looking to capitalize on cryptocurrency growth.
However, this prediction contradicts the Pi price forecast, suggesting a bearish outlook for the asset's future. Additionally, a recent report indicated that if short sellers continue to dominate, some market experts expect the price of Pi to reach $0.30. That said, investors should proceed with caution when placing bets on the market.