Pi Network Price Prediction: Will the Pi Coin Price Rise If the SEC Approves a Spot ETF?

This article explains how a potential PI ETF would boost its price and how high it may get.

The price of Pi Network has continued to crash this week, pushing it to its lowest level since February 2022 and leading to billions of dollars in losses for investors.

This performance is likely because Pi coin is still in a price discovery phase after its mainnet launch in February. The coin's price has dropped sharply in the past few months, sliding to the lowest point since February 2022. This decline has wiped out billions of dollars in investor wealth.

Several factors may be contributing to the Pi Network price crash. One factor is the ongoing dilution concerns. Pi coin began with a total supply of 68.7 billion tokens. However, this number is expected to increase rapidly in the next few years as new batches of tokens are released.

Another factor that could be weighing on the Pi coin price is the lack of exchange listings. Currently, Pi coin is not available on major cryptocurrency exchanges like Binance, Kraken, Upbit, or Coinbase. This lack of listing limits the coin's liquidity and makes it inaccessible to millions of potential buyers.

A third factor that could be impacting the Pi Network price is the absence of a spot Pi Network ETF in the United States. The U.S. Securities and Exchange Commission (SEC) has recently approved several Bitcoin ETFs and is considering applications for spot crypto ETFs.

A Pi ETF would be beneficial for several reasons. Firstly, it would provide a convenient and regulated way for institutional investors to gain exposure to the Pi Network. This increased institutional interest could lead to a surge in demand for the coin.

Secondly, a Pi ETF would be traded on major stock exchanges, making it easily accessible to retail investors. This wide availability could encourage more people to invest in Pi coin, further boosting demand.

Finally, a Pi ETF would likely track the spot price of Pi coin closely. As the ETF's price is driven by market forces, it would be expected to reflect the fair value of the coin.

Overall, a spot Pi Network ETF approval in the United States would be a significant event that could have a major impact on the Pi coin price. The ETF's price would be determined by market forces and could lead to surges in the short term.

In the long term, the Pi Network price will be influenced by several other factors, such as the coin's utility, the development of the Pi ecosystem, and the overall cryptocurrency market trends.

If Pi coin manages to achieve broad adoption and its ecosystem flourishes, it could rise to much higher levels in the years to come. However, if the coin fails to gain traction or the cryptocurrency market experiences a downturn, the Pi Network price may remain low or fall further.

The table below shows the potential long-term price targets for Pi coin and the corresponding market cap and fully diluted valuation.

The four-hour chart shows that the Pi Network price has fallen to $1.1600, sliding sharply from the all-time high of $3. On the positive side, it has formed a falling wedge pattern whose two trendlines are about to converge. A bullish breakout typically happens when the two lines near their crossover.

Moreover, the Stochastic Oscillator is showing signs of a bullish divergence, which is a technical indicator that suggests the price may be poised for a rebound. The Stochastic Oscillator is a momentum indicator that compares a security's closing price to its price range over a given period. In this case, the Stochastic Oscillator is showing that the Pi Network price is falling more slowly than its recent trading history, which could indicate that the downside momentum is slowing.

A bullish breakout from the falling wedge pattern would occur if the price manages to rise above the resistance level at $1.80. This move would also negate the bearish signals from the Stochastic Oscillator.

If the Pi Network price breaks out above the falling wedge pattern, it could continue to rise and test the next resistance level at $3.00. A break above this level would be significant as it would indicate that the sellers are losing control and the buyers are beginning to take over.

However, if the Pi Network price fails to break out of the falling wedge pattern and falls below the support level at $0.80, then the short-term price outlook would turn bearish.

In conclusion, the short-term price forecast for Pi Network is bullish. The coin's price is expected to continue falling in the short term, but it could rise sharply in the intermediate term if it breaks out of the falling wedge pattern and the Stochastic Oscillator shows signs of recovery.