Pi Network Ignites Market: PI Coin Primed for 200% Explosion
Pi Network''s native token is defying gravity—again. The mobile-mined cryptocurrency just flashed its most bullish signal since Mainnet launch, with analysts calling for a threefold surge.
Why the frenzy?
Three words: supply shock dynamics. With over 35 million engaged users (many still awaiting KYC) and a delayed open market debut, PI''s circulating supply remains artificially constrained. When the floodgates open? Cue the classic crypto pump narrative—though some Wall Street veterans are already rolling their eyes at the ''next Bitcoin'' chatter.
Technical indicators scream opportunity. The PI/USDT chart shows a textbook breakout from a 9-month accumulation zone. If volume sustains above $50M daily, that 200% target becomes conservative—especially with staking rewards still juicing holder incentives.
But buyer beware: this rocket could have shaky boosters. The core team''s opaque tokenomics decisions and glacial exchange listings (still no Binance or Coinbase) leave traders guessing. One hedge fund manager quipped: ''Nothing burns hotter than a crypto project that''s 90% marketing, 10% utility.''
Whether PI becomes Web3''s dark horse or just another vaporware darling, one thing''s certain—the volatility will be spectacular.
PI coin price chart, Source: TradingView (PI/USDT)
The Bollinger Bands (BB) displays narrow bands following a major price drop during the month of May. This trend typically suggests a consolidated price action in the crypto market. Additionally, the PI coin hovers within the lower half of the BB band, suggesting a weak price action in the shorter time prospects.
The Bear Bull Power (BBP) indicator shows a constant negativity in the price chart. This suggests fading bullish action. However, the optimism for this altcoin is rising toward a new high each day, highlighting a possible trend reversal.
How High Will PI Price Rise?
A strong bullish breakout could result in this altcoin retesting its major resistance level of $1.1750 by mirroring its price action of May. Suppose, the HYPE intensifies and adoption increases, it could lead it heading toward its next major resistance zone of $1.86, making it a 200% surge from its current valuation.
However, this price target is not possible in a short period unless a major set of events occurs. The immediate resistance target for this altcoin stands at $0.85 respectively. On the contrary, if the bears dominate the market, then the PI coin price may fail to regain momentum and retest its crucial support level of $0.5155 this month.
Also Read: Bitcoin, Ethereum, XRP Show Bullish Signals as US CPI Cools
