Pi Network Token Faces High Volatility After Successful Mainnet Launch

Pi Network price is up by a staggering 45% from its launch price of $1.24. The highly anticipated Pi network mainnet launch has seen it stand out

Pi Network price has surged by an impressive 45% from its launch price of $1.24, standing out amidst the choppy movements in the broader crypto market. As of now, Pi Coin is valued at $1.57 with a daily high of $1.97. On the OKX exchange, Pi Coin reached an all-time high of $2.2, with trading volumes reaching $101M within the first two hours of trading.

After the successful launch of the Pi Network mainnet, traders are speculating on how far the Pi Coin price can rally. The token has experienced high volatility, fluctuating between $1.24 and $2.20 since launch. These sharp movements are common with new token launches and may continue until the market establishes a stable value for Pi Coin.

Despite the volatility, a parabolic rally to $300 is anticipated if Pi Coin gets listed on other centralized exchanges like Binance. Exchange listings usually benefit new tokens, potentially leading PI to form new all-time highs. At the same time, the project's tokenomics appear strong, with a circulating supply of 9.7 billion tokens. Pi Coin's maximum supply is 100 billion tokens, indicating that only 9% of the total supply is currently available in the market.

The strategy used to release the remaining supply will influence the long-term performance of Pi Network price. Additionally, the adoption of the blockchain by decentralized applications (dApps) will impact the price.

The 45% surge in Pi Coin value is largely attributed to the hype surrounding the Pi Network mainnet launch. Similar gains were also observed with projects like Hamster Kombat and Berachain, which posted parabolic gains following their token launches.

Hamster Kombat reached record highs in September shortly after launch, before dropping by 84% to its current price. Berachain also experienced a comparable rally, later crashing by 48% from all-time highs.

If Pi Coin does get listed on Binance, we can expect to see another rally. However, to sustain these gains and avoid a crash, the Pi Network needs to develop strong use cases and gain adoption from dApps.