As the crypto community gears up for the long-anticipated Pi Network mainnet launch on February 20, speculation is surging around the token’s future price trajectory. While Pi has amassed a massive user base through its mobile-first mining model, its transition from a testnet environment to open market trading has prompted both bullish and bearish forecasts. The big question now is: Will Pi Coin's price soar upon mainnet release, or crash under the weight of speculation and lack of liquidity?

A Brief Look at Pi Network

Pi Network was created with the goal of making cryptocurrency mining accessible to everyday users through mobile phones. The network has attracted over 35 million users, who have been mining Pi coins via a smartphone application. However, until now, these coins have existed only in a closed ecosystem, without listing on any major public exchange.

With the official mainnet launch finally scheduled, investors are bracing for significant volatility. The potential public trading of Pi could mark a turning point for early adopters - either a payday or a disappointment.

(https://www.ccn.com/analysis/crypto/pi-network-long-awaited-mainnet-pi-coin-surge/)

What the Bulls Are Saying

Optimists believe that the coin’s scarcity, large pre-existing community, and exchange listings will lead to a surge in demand. Many users have held Pi tokens for years without being able to monetize them. The listing event, in their eyes, may unleash pent-up demand - particularly if the token is listed at a favorable starting price.

Pi’s ecosystem development and community size are its strongest assets, potentially giving it an edge during its transition to public markets
(https://www.gate.io/post/status/9175376).

What Could Go Wrong?

However, skeptics warn of several looming risks. First, Pi's valuation is speculative and largely unsupported by market data. Since the tokens were not freely traded, price discovery is uncertain. Additionally, if too many users decide to sell immediately upon listing, the price could plummet under heavy sell pressure.

Another factor is liquidity. Without substantial market-making or exchange incentives, Pi may face limited buying support, leading to price stagnation or collapse. Lastly, the token’s legal and regulatory clarity remains a grey area, which could delay listings or reduce institutional interest.

Price Activity on IOUs

Some exchanges like Binance currently allow trading of Pi IOUs - derivative instruments that track Pi’s hypothetical value before official launch. As of this writing, Pi’s IOU value has shown extreme volatility, with swings between $10 and $40 on different days. However, these numbers don’t necessarily reflect the real launch price.
(https://www.binance.com/en/price/pi-iou)

Conclusion: A High-Risk, High-Reward Scenario

Pi Coin's mainnet launch marks a pivotal milestone, potentially unlocking real value for millions of users. However, due to a mix of speculative pricing, lack of historical trading data, and uncertain tokenomics, Pi remains a high-risk asset. Investors should tread carefully, watch for official exchange announcements, and avoid making decisions based on hype alone.

Whether Pi Coin soars or crashes post-mainnet, its debut will offer valuable lessons in community building, grassroots crypto adoption, and the power - and peril - of mobile-first mining.