Top Price Prediction for Pi Network (PI) This Week

The native token of the Pi Network – PI – was launched on February 20 when the project finally launched Open Network. This asset has experienced severe volatility since then, with the price reaching an all-time high of nearly 3 dollars over a month ago and then falling to a low of 0.68 dollars on March 31. Despite the chaos and the clear recent downward trend, many analysts continue to envision a short-term price surge. User X Crypto King predicts that the price could increase 2-2.5 times to around $2 when “market volume returns”. MOON JEFF – an analyst who often talks about Pi Network – shared Coincodex’s forecast that PI could soar to $2.73 by the end of this month. This cryptocurrency tracking platform also set a big target of $27 by 2050. A few days ago, MOON JEFF suggested that PI could fall to $0.60, describing this as “the only remaining support level.” However, market observers expect a strong recovery to a new all-time high of $5 if this bottom is reached. As mentioned above, PI did not fall sharply to that extent, and the fact is that it has recovered to a high of $0.75 a few hours ago. Currently, it is trading at around $0.72 ( according to CoinGecko ) data, showing a 1% increase on a daily scale. PI is designed to have a maximum supply of 100 billion tokens. Currently, its circulating supply is below 6.8 billion, which means that over 90% of the designated supply has not yet been distributed. Naturally, some analysts have taken this into account and forecast a fall in price pressure in the coming days. For example, Whale.Guru reveals that more than 121 million PI tokens will be unlocked in the next 30 days. Furthermore, data from the Pi Network block explorer analyzes the distribution of mining rewards that have moved, this is the actual current supply available on the network, as well as the balance between locked and unlocked mining rewards in this supply. The previous figure was around 5 billion, while the latter figure is 1.7 billion, which means that the majority of tokens are still locked, raising the question of what will happen when they are released.