The prospects of Pi Network in the cryptocurrency market: Reality or Delusion?
Impressive growth, but fundamental challenges remain
In the 100 days since Pi Network launched its open Mainnet, the project has achieved significant milestones. Over 3 million new users have joined, bringing the total number of active pioneers to over 13 million. Additionally, more than 400,000 nodes are active, strengthening the decentralized network.
New initiatives have also been implemented, such as the $100 million Pi Ventures fund supporting startups and the casual game application Fruity Pi. The PiFest 2025 event attracted over 1.2 million vendors, demonstrating that the network is transitioning from a coin mining application to a true commercial ecosystem.
However, the price of Pi Coin has faced difficulties recently. The token has dropped nearly 30% in the past month and is down more than 7% today, trading around $0.50. This decline brings the price close to a significant support level at $0.40.
The technical indicators also show a bearish trend. The 14-day RSI has dropped to 30, usually signaling oversold conditions. However, experts do not confirm a clear bullish reversal. A cryptocurrency analyst shared on social media, 'I would be surprised if Pi doesn't hit $0.40 in July.'
Is $10 a feasible target?
According to CoinDCX's price prediction for Pi, at the beginning of 2025, the bulls are expected to strongly control the market, pushing Pi's price above $4.80 to $5.00 by mid-year. However, as we pass the halfway mark of the year, these bullish targets seem distant. Currently, Pi is struggling around $0.50.
Long-term forecasts predict Pi will range from $3.3 to $5.5 in 2025, with the potential to reach $9.1 by 2027. For Pi to approach the $10 price point, the project needs to continue generating sustainable demand, expand listings on exchanges, and achieve practical utility in the business world.
Even if Pi can recover and achieve a higher value compared to its previous peak against Bitcoin, this will still require a growth of about 190%. Pi's market capitalization will hover around $26 billion, placing this coin among the top 10 largest cryptocurrencies in the world.
It is difficult to predict whether Pi can maintain this upward momentum, especially as usage and liquidity remain limited. Analysts agree that the $10 target is an unrealistic expectation based on the current technical state and the actual performance of the project.
Source: https://tintucbitcoin.com/gia-pi-network-co-the-mai-khong-dat-10-usd/
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