🚀💥 Pi Coin Soars 5% Igniting a Frenzy: Mainnet Migration Begins, $1 in Sight? 😱🔥

PI Price Soars

Pi Network (PI) has surged over 5% in the last 24 hours, currently priced at $0.66, with trading volume exploding by 66%! The first phase of the mainnet migration has started, with 12 million users completing KYC, and mining rewards and other transfers are set to launch soon.

Migration Plan Accelerates

The Pi Core team promises to bring more users and PI tokens onto the mainnet. The current phase involves transferring basic mining, security circles, node rewards, and the second phase (referral bonuses) will be launched later, with the timing yet to be determined.

Token Economics Support

Of the 100 billion PI, 65% is allocated for community mining, 10% to the foundation, 5% for liquidity maintenance, and 20% for the core team. Gradual release to prevent supply shocks, with the second wave of migration possibly starting in the second half of 2025.

Price Outlook

Despite a 30% market cap decline last month, the RSI on the 4-hour chart has risen to 62.82, showing strong bullish momentum. A breakout above $0.68 could push it to $0.72, with resistance at the upper Bollinger Band of $0.6763 and support at $0.6635. Analysts are optimistic that the mainnet could drive PI to $1!

New Star of the Bull Market?

The mainnet migration has ignited the PI frenzy, with the $1 target within reach? Selling pressure cannot stop the upward momentum, and the crypto space is buzzing!