The Pi Network price appears to be making a comeback, as evidenced by its latest surge amid a broader crypto market recovery. Besides, it is also on the verge of recording a key milestone, challenging the leading meme coin Dogecoin in terms of social media followers. Amid this, a renowned expert highlighted key reasons that might help Pi Coin to make a strong comeback in the coming days.
Expert Reveals Why Pi Network Price Is Poised To Rally
As Pi Network price made a comeback today, market watchers are keeping close track of the potential developments that could drive the momentum ahead. Besides, it’s worth noting that the recent bounce in Pi Coin comes amid a broader crypto market recovery. Amid this, a top expert revealed key reasons that might continue to help gains in the token.
A well-known analyst Kim H Wong said that the crypto might continue to rally ahead due to upcoming news and developments. The expert noted that since its last month debut, the crypto has hovered between the $0.6 and $3 mark and currently trading near the $1.1 level.
Wong attributes the initial Pi Network price surge to the broader market volatility and soaring buzz over the token. However, he noted that due to the lack of any major announcement from the team, the crypto has failed to maintain its upward momentum and is facing massive volatility due to the absence of any news-driven catalysts.
What Lies Ahead?
The Pi Network community has expressed their frustration due to the lack of any major updates from the team. However, the expert said that several key factors ahead may drive Pi Coin price higher in the near future. For potential reasons, he cited listings on major exchanges, merchant partnership announcements, and ecosystem advancements.
Besides, he also cited the growing adoption of the token to help gains ahead. For context, a leading US real-estate firm has started accepting Pi as a form of payment. On the other hand, the progress of the Pi domain’s auctioning might also drive the prices higher in the coming days.
The introduction of the Domains tab in the Pi Browser and the auctioning of .Pi domain names have generated significant interest. These domains can act as digital addresses for Pi-based websites, apps, or services, which might enable a decentralized, Web3-focused ecosystem.
The auctioning process also reduces Pi’s circulating supply, potentially boosting its value over time. With nearly 70 million registered users, including 20 million identity-verified Pioneers, Pi’s growing community is eager to capitalize on this new development.
Besides, Wong also suggested that it’s a good time to keep buying and holding Pi, with the potential for a significant Pi Network price rally ahead.
Pi Network Price Surge: Other Factors In Play
Pi Network price today was up nearly 2% and exchanged hands at $1.17, while its trading volume fell 35% to $370 million. Notably, the token has hovered between the $1.2 and $1.12 level over the last 24 hours, while losing about 31% in the weekly chart. Besides, a Pi Price prediction also indicates a bearish and consolidating trend ahead for the crypto.
However, despite that, some recent developments, as highlighted by Wong, hint at a potential surge ahead. Besides, the Pi Network Team has recently announced the introduction of two-factor authentication (2FA) for Pioneers. This 2FA Pi authentication is expected to ensure a secure and successful migration to the mainnet, which in turn could boost the traders’ confidence.
Besides, a recent Pi price analysis hints towards a potential rally to $3.14 citing several reasons. For context, amid the upcoming token unlocks, the analysis suggested that a Pi Burn mechanism, exchange listings, and a potential PI ETF launch would help massive gains in the token.
Although these are mere speculations for now, if true, these developments could trigger a rally in the token. Besides, Pi Team’s X followers have reached 4.3 million, nearing Dogecoin. This soaring community might also aid in a strong recovery ahead for the asset.
Pi Coin Unlock: Will It Impact Price?
Despite the soaring optimism, some investors are staying on the sideline with massive Pi token unlocks looming. For context, 21.2 million Pi Coin is scheduled to unlock on March 21, worth $42.39 million, PiScan data showed.
This unlock could significantly weigh on the traders’ sentiment, given the increasing supply often impacts the performance. Besides, a total of 1.6 billion Pi, worth $1.88 billion, is scheduled to unlock over the next 12 months. These heavy unlocks could have a significant impact on the Pi Network price, unless there are other major catalysts that might offset these concerns.
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