Is PI Set for Another Price Surge?

The Pi Network has made waves recently following the launch of its native token on February 20, marking a significant milestone nearly six years post its controversial inception.

The Pi Network, a project that has been in development for nearly six years, has recently launched its native token, Pi. The token is now trading on several major exchanges, including Bitget, OKX, and MEXC.

Following its launch, PI experienced significant price volatility. After initially falling below $0.65, the token rapidly surged to peak close to $3 on February 27. Currently, it has stabilized around the $1.90 level, as per CoinGecko data.

This stability may present an excellent opportunity for PI to stage another rally. Industry insiders have noted that the token is bouncing back from a crucial support level of $1.58, as highlighted by X user Coinvo.

Moreover, another market commentator, recognized as MOON JEFF, has identified the present price point as an optimal time to buy PI. According to his predictions, the token is set to experience a surge above $5.

Recent bullish market sentiments are also being shared by several crypto analysts, who foresee PI's price increasing to levels between $4 and $40. In a lighter vein, some optimists predict that the token might reach the symbolic figure of $314.159, a reference to the mathematical constant π (Pi). However, such a scenario would require PI's market capitalization to soar past $2 trillion—a staggering sum considering its current valuation of approximately $13.4 billion.

Furthermore, Pi Network has achieved a milestone of over 4 million followers on X (formerly Twitter), surpassing major cryptocurrencies like Ethereum, Shiba Inu, and Ripple in terms of followers. This surge in interest, particularly in Asian markets, indicates a significant shift in community attention towards the network.

According to Wu Blockchain's estimations, the user base in South Korea alone has surpassed 1.3 million, outpacing the local user bases of Binance and Coinbase. This scale of participation in a single market further underscores the magnitude of interest in Pi Network.