Although it’s the weekend, the cryptocurrency market never sleeps.
Here are some of the most important events in the Pi Network ecosystem, which is one of the newest (yet not so new) and hottest trends.
Partnerships in the Pipeline
Pi Network saw the light of day just over a month ago but has made the headlines numerous times since then. In one of the latest updates posted by the team, they indicated a notable partnership that could enhance transparency.
Pi News, the project’s official media source online, outlined a collaboration with PiDaoSwap, a fully community-driven decentralized project. The DAO’s governance, run completely by the community, is expected to alleviate some of the uncertainties surrounding the project, which has struggled with controversy for years.
Such partnerships could bolster confidence in the underlying asset, potentially leading to price surges.
Fewer Unlocked PI Tokens, Positive Price Trajectory?
A Pi Network X channel based in Vietnam explained that the recent decline in PI’s price could be attributed to growing selling pressure from a substantial number of unlocked tokens during its first month of trading.
However, the team expects that the selling pressure will ease as the unlocking rate is set to drop from 13 million PI per day to just 3.8 million. If demand holds or rises, this could stabilize or even boost PI’s price.
A cryptocurrency analyst noted on X that the PI/USDT pair had been trapped within a falling channel for a month. Nonetheless, the overall sentiment for PI has turned bullish after reclaiming a resistance line that is now acting as support.
As such, if PI manages to break out of this descending channel with notable momentum, it could surge toward $2 in the near future.
Previous Price Predictions for PI
Pi Network boasts a large community of supporters and growing attention from analysts, who frequently highlight potential price movements on X. Recent predictions have suggested a return to its previous all-time high of $3, recorded just a month ago.
Some speculators have been even more optimistic, proposing a potential surge to $314.159 – a figure symbolically linked to π (Pi) ≈ 3.14159. While this may sound far-fetched, achieving such a valuation would require PI’s market capitalization to explode into the multi-trillion-dollar range, making it a lofty goal indeed.
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