YEREVAN (CoinChapter.com) — Pi Network is one of the most awaited projects in the crypto space. Unfortunately, its launch is like those times in the early 2000s when you tried to download a movie and it just couldn’t because of the slow internet. And it would always take the longest just when you thought it was about to get there. Give the recent Pi coin Price Surge, albeit without guarantees, is Pi Network a worthy investment?
PI token price loses steam after 15% weekly rally
As 2023 comes to a close, a few interesting developments came from the Pi Network. The project’s native token rallied over 15% in the last week of December alone. In an impressive feat, it surged from around $30 on Dec. 29 to over $35 on Jan. 01 2024.
However, despite the excitement, the rally did not last. In the first week of the new year, PI price forfeited all those gains, tanking 15% to reach around $31 while writing.
Meanwhile, the PI token is not available on major exchanges yet, which makes its price predictions somewhat speculative and challenging. As of date, the mainnet is due to launch in the second quarter (Q2) of 2023.
Once the developers launch the Pi Network mainnet, users can sell their PI coins accumulated from mining using their mobile app.
Currently, however, the PI token trades on an IOU system “I owe you.”) This system suggests that this is the value the token will fetch on participating exchanges post-launch.
Meanwhile, the recent data indicates a positive trend in its price, there is no guarantee users will trade at this price. Also, the launch will bring millions of tokens into the market. Most holders will try to sell their holdings, clogging the network and crushing prices.
Moreover, the question of liquidity can also arise if it turns out there isn’t enough USD to service cash outs despite all assurances. This makes it difficult to be very bullish on the prospects of the Pi Network.
Pi Network Price prediction
Price predictions for PI tokens are all over the place. Those who are optimistic about the project’s potential suggest it could reach significant highs in the future.
For example, crypto data platform Crowdwisdom360 predicts Pi token price will be at around $63 in 2024. Meanwhile, it suggests PI will close 2025 a little short of $100, with its bullish long-term prediction being above $400 in 2024.
Another prediction, however, suggests a PI could potentially peak at $140 in the coming weeks.
However, those who do not find the current prices sensible, see it starting low, with a 2025 target at $0.015.
However, several have predicted the PI Token price to reach $100. For that to happen, the altcoin would need to grow by about 25% each year for approximately 4 years.
Meanwhile, blockchain security firm CertiK Skynet suggests PI Network is not a safe investment. Suggesting that it has poor code security, it specifically highlights that PI has not done an independent audit yet.
So is Pi Network a worthy investment? Well, it has its risks. For now, it is best to continue minting tokens for free. Once the Mainnet launches, things will get clearer.
