Can Pi Network Reach $100 as Mainnet Launch Approaches?

Pi Coin's Future Amid Crypto Rally and Upcoming Mainnet Launch

The Pi Network has given back some of its recent gains as the broader crypto market rally slowed down. While Bitcoin inches closer to the much-anticipated $100K milestone, the question arises: could altcoins like Pi Coin ride the wave and regain momentum?

Can Pi Coin Surge to $100 as Mainnet Launch Nears?

Investors are buzzing with anticipation as Pi Network edges closer to its mainnet launch. Following the success of the recent PiFest and the nearing conclusion of KYC verifications, speculation is rife about Pi Coin’s price hitting $100. Developers have also highlighted the rapid growth of the ecosystem, with over 27,000 sellers now registered on the Map of Pi, a dApp connecting businesses accepting Pi. Could these milestones pave the way for a major price rally

Pi Network Gains Momentum

The Pi Network is gaining traction among sellers, enhancing its utility as a shopping-friendly cryptocurrency, potentially outshining Bitcoin. Developers have ticked off one of the three critical milestones ahead of the mainnet launch: building an ecosystem to give Pi coin real-world utility.

Another major hurdle, KYC verification for all miners, is also nearing completion, with the grace period set to end on November 30. Accelerated progress on these fronts, coupled with a bullish crypto market, suggests the Pi Network price could climb to $100. Let’s dive into the technical analysis for insights on this ambitious target.

Can a Pi Coin Hit $100 Again?

1. Pi Coin (an IoU token not officially linked to the Pi Network) hit $100 in October due to excitement about the mainnet launch.

2. The price then dropped to $44.95 by November 12, staying just above the 100-day moving average.

3. A bullish signal, called a "golden cross," appeared earlier when the 50-day and 200-day moving averages crossed.

4. The recent dip happened after Pi Coin hit an overbought level on Murrey Math Lines.

5. With rising expectations for the mainnet launch, Pi Coin might try to climb back to $100 soon.

The Pi Network is at a pivotal moment as it nears its mainnet launch, with significant milestones such as the completion of KYC verifications and the growing ecosystem offering real-world utility for Pi Coin. While the recent price dip following the coin’s October surge highlights the volatility of the market, the underlying momentum driven by these developments suggests that Pi Coin could regain its upward trajectory.

The increasing adoption of Pi by sellers and the bullish sentiment in the broader crypto market further enhance the likelihood that Pi Coin may reach the $100 mark once the mainnet is fully operational. However, the journey to that price will depend on continued progress and market conditions in the coming months.