What are the Next Potential Targets?

TL;DR

• Analysts suggest PI may be primed for a resurgence, with predictions ranging from $4 to $40, and some even speculating a symbolic $314.159 target.

• Pi Network’s X (Twitter) account following has surpassed 4 million, outpacing major cryptos like ETH, SHIB, and XRP.

Is PI Ready to Rally Again?

Pi Network’s native token began trading on February 20, nearly six years after the controversial crypto project’s birth. Some of the exchanges that embraced the asset upon the launch of the Open Network include Bitget, OKX, and MEXC.

The price of PI registered substantial fluctuations in its first trading days, plummeting below $0.65 and rising to an all-time high of almost $3 on February 27. In the following days, the valuation retraced to approximately $1.50 before consolidating to the current $1.90 (per CoinGecko’s data).  

According to some industry participants, it might be time for another resurgence. The X user Coinvo claimed that PI “is bouncing perfectly off the point of control.” The investor suggested that the level stands at $1.58. 

Another market observer, using the X moniker MOON JEFF, thinks the current price represents a great buying opportunity. They believe PI’s spike above $5 is just a matter of time. 

Last month, the X user Pi Blockchain predicted that the next wave could send the value to $4 or even $40. Others have been even more bullish, envisioning an explosion to a whopping $314.159 – a number symbolically linked to π (Pi) ≈ 3.14159. 

It is important to note that such a figure would require PI’s market cap to skyrocket above $2 trillion (assuming the circulating supply is around 7 billion coins). As of writing these lines, its capitalization stands at around $13.4 billion, making the forecast highly implausible (to say the least). 

Pi Network’s Latest Achievement

The project has become more popular lately, perhaps due to the major milestone mentioned above. As CryptoPotato recently reported, Pi Network’s followers base on X (formerly Twitter) has surpassed 4 million people. 

In comparison, well-known cryptocurrencies such as Shiba Inu (SHIB), Ethereum (ETH), and Ripple (XRP) trail behind. Pi Network is particularly popular in Asia, with South Korea, Vietnam, China, Japan, India, Singapore, and other nations becoming strongholds. 

Not long ago, Wu Blockchain estimated that the project’s users in South Korea exceeded 1.3 million, outpacing the local customer base of behemoth exchanges like Binance and Coinbase.