Pi Network (PI) Price Pumps 157% Amid FOMO, Can It Hit $5 Before Q1 2023 Ends?

Pi Network price has staged a 157% comeback after crashing last week following its highly anticipated mainnet launch. Its rebound happened at a time when Bitcoin and most altcoins remain under pressure. This article explores whether the Pi coin price will surge from the current $1.52 to $5 before March 31 when the first quarter ends.

1. Pi Network price has rebounded sharply after crashing following its mainnet launch. This happened as many pioneers dumped their tokens after they became available on exchanges.

2. The Pi coin price has done well in the past few days after crashing initially following its mainnet launch. This crash happened as many pioneers dumped their tokens as they became available in exchanges like OKX and HTC. Many of these pioneers have been mining their coins for over 6 years, making the mainnet launch the best period to sell their coins.

3. Pioneers have also observed that many newly launched tokens crash after their airdrops. This includes popular tokens like EigenLayer, Wormhole, and Hamster Kombat.

4. The value of Pi also dropped after being called a scam by Bybit’s CEO. This was a notable criticism since it happened on the same day when the Bybit hack happened, costing it $1.4 billion in Ethereum coins.

5. The Pi Network value has bounced back as many investors buy the dip. This is evidenced by the substantial volume. CoinGecko data shows that Pi’s 24-hour volume rose to $1.3 billion on Sunday, February 23. It had a 24-hour volume of $1.1 billion on Monday, a figure that may continue rising.

6. This performance may likely push more mainstream exchanges to list Pi coin. A Binance poll on whether it should list Pi has an 88% approval rate, meaning that it will list it this exchange this week. That may push other exchanges like Coinbase and Kraken to do the same.

7. The Pi coin value has crawled back after dropping to $0.6016 after its mainnet launch. This was a big dip since it started trading at $2 and initially jumped to $2.2. A move from the current $1.51 to $5 would be a 271% surge.

8. Such parabolic moves are possible, especially in the crypto industry. For example, Mantra price has soared from less than $0.1 in 2024 to $9.5 today. Most recently in November, XRP and XLM prices went into a parabolic surge after Donald Trump’s win.

9. Pi Network price may replicate such a parabolic move by March 31. That would happen if it receives numerous bullish catalysts like a Binance, Coinbase, and Kraken listings. As a Made in USA coin with a market cap of near $9 billion, there are odds that a spot Pi Network ETF may happen. All these factors may trigger FOMO among traders and investors and push the Pi coin value higher.

10. Technically, this strong rebound to $5 will become viable if the coin rises above its post-mainnet launch high of $2.2 and the value of Pi of $3.14. Such moves will mean that there are more bulls keen to push it to the key psychological point at $5.