1. **Mainnet Launch**: The transition from the testnet to the mainnet is crucial. Once the mainnet is fully operational, Pi will transition from a speculative asset to a functional cryptocurrency.

2. **Adoption and Utility**: The success of Pi will heavily depend on its adoption rate and the real-world utility it offers. If Pi can be used for transactions, payments, and other applications, its value could increase.

3. **Market Conditions**: The overall state of the cryptocurrency market will also play a significant role. Bullish markets tend to lift the prices of most cryptocurrencies, while bearish markets can have the opposite effect.

4. **Regulatory Environment**: Government regulations and policies regarding cryptocurrencies can impact Pi's price. Favorable regulations can boost confidence and adoption, while restrictive regulations can hinder growth.

5. **Community Support**: The strength and engagement of the Pi Network community will be a critical factor. A strong, active community can drive adoption and development, positively impacting the price.