Top analyst Kim H Wong highlights key factors for Pi Coin's next big move

Since launch Pi Coin's price has fluctuated between $0.60 and $3, now around $1.20.

Top analyst Kim H Wong has highlighted key factors that could drive the next big move for Pi Network (PI) Coin.

Since its launch, Pi Network Coin has become one of the most talked-about cryptocurrencies, even during market turmoil. Its price has fluctuated significantly, ranging from $0.60 to $3, before settling around $1.20.

Now, crypto expert H Wong has pointed out some crucial developments that could propel Pi Coin to new highs.

What’s Next for Pi Coin?

According to the analyst, Pi Coin has now entered a phase where it will trade like a regular cryptocurrency. But with upcoming developments, it could see a major boost. Some of the key factors that could drive’s price higher include;

Pi Network’s Web3 Vision Gains Traction

One of the most exciting developments for Pi Network is its .pi domain name auctioning. This move is part of Pi’s larger plan to create a decentralized, Web3-driven ecosystem. These domains could serve as digital addresses for websites, apps, or services within the Pi Network.

For example, a business could use “store.pi” as its online shop, accepting Pi Coin for payments. Major domains like “Samsung.pi” and “Amazon.pi” have reportedly received bids as high as 45,000 Pi, showcasing the level of interest.

Could This Boost Pi Coin’s Price?

The domain auction process also has an economic impact. As bidders pour in more Pi to outbid each other, it effectively locks up or burns the coins. This scarcity factor could push the price of Pi Coin higher.

However, the Pi Network is expanding rapidly with nearly 70 million users and 20 million verified Pioneers. If this momentum continues, Pi Coin could see a significant surge to around $5 shortly.

Massive Unlocking OF Token Coming

Some investors may be cautious as a large Pi Coin unlock approaches, with 21.2 million Pi Coins valued at $42.39 million set to be released on March 21. This eventuality could affect market sentiment, as increased supply usually impacts prices. In the grand scheme of things, a total of 1.6 billion Pi Coins will unlock over the next 12 months.

But for now, H suggests that buying and holding Pi Coin could be a wise strategy as the Pi ecosystem continues to expand.