The price of Pi Network has experienced significant fluctuations in recent trading, with a slight recovery recorded today amidst signs of recovery in the global cryptocurrency market. However, as the price of Pi Coin hovers around $0.64, market experts have indicated that this is a critical area to consider for investment.
Although many investors express concerns about short-term challenges, analysts remain optimistic about the long-term outlook.
Pi Network Price: Overview of Recent Performance
Today, the price of Pi Network has recovered, rising about 2% to $0.65. However, the daily trading volume has decreased by nearly 16%, with a high and low in the last 24 hours of $0.658 and $0.637, respectively.
PI Price Chart | Source: Bitcoin Magazine
Recent dismal momentum has led to a decline of more than 15% in Pi Coin's weekly price chart. Nevertheless, despite the deep drop, its value has still increased by about 10% in the past 30 days, indicating a very volatile trading session.
The reason why the price of Pi Coin at $0.64 remains a buying opportunity
In a recent post on X, expert Kim H Wong shared that Pi Coin has faced many criticisms throughout its six-year journey. However, he emphasized that the project has officially launched its mainnet and has seen its token rise to $3 since being listed on leading cryptocurrency exchanges.
He also assesses that the price of $0.64 for Pi Network is a 'bargain' area, even though the value of Pi Coin has decreased to $0.40. Wong stated that Pi Coin has reached the 28th position in the global cryptocurrency ranking by market capitalization, which is considered a 'significant achievement' for the most successful free mining project to date.
Wong explained that while 80% of users have left the project, the remaining 20% have stayed and are currently benefiting from the development of the ecosystem. He compares this to the 80/20 rule of success, emphasizing that persistence is the key factor for those looking to profit from Pi Coin.
According to Wong, the foundation of Pi Network is now firmly established. With infrastructure ready and fully deployed operations, he believes that significant milestones will come more quickly in the future.
He also pointed out that the acceleration phase is underway, with the development of Dapps, strategic partners, and broader recognition of cryptocurrency as signs that strength is gradually maturing.
Why the price of Pi Network may rise in the near future
Wong pointed out a series of factors that could drive the price of Pi Network in the coming days. He expects the project to soon reach 100 Dapps on the mainnet, thanks to monthly hackathons and a newly launched $100 million investment fund. These Dapps have the potential to attract users, create real value, and increase demand for Pi Coin.
At the same time, he predicts that major exchanges like Binance and Coinbase may soon list Pi. These platforms are under pressure to tap into Pi Network's vast user base. If the listing occurs, it could open up a significant liquidity flow and enhance attention towards the token.
Additionally, integration with merchants could be a game-changing factor. Wong mentioned that global giants like Amazon and Walmart may one day accept Pi. He believes the momentum lies in Pi's large community and the opportunity for retailers to engage with an existing customer base.
Finally, Wong believes that the KYC process and wallet movement will continue to support price increases. As more users complete verification and transfer tokens to their main wallets, the supply-demand dynamics may change, creating a strong upward price trend.
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