Home News and Analysis All News Pi Network coin price prediction: Third party price target
By Capital.com Research Team
13:51, 13 December 2024
Pi Network aims to provide users with a new crypto called PI, which its creators promise to offer all the advantages of bitcoin (BTC) while avoiding its pitfalls.
But it’s still unreleased as of November 2024, more than five years after it was initially launched. It can’t be sold on any exchange and does not yet exist on a live blockchain. It’s mined by people signing into the Pi app from their phones and tapping a button.
So, what is the PI cryptocurrency and how does the Pi Network work? Let’s take a look and see what we can find out.
The Pi Network was founded by Stanford University academics Nicolas Kokkalis and Chengdiao Fan in 2018. On 14 March 2019, they published a whitepaper and released the Pi Network app.
The app is used to mine PI, with users pressing a button every 24 hours.
Users get an invitation code from a member to join the app. The platform has a referral system in which users earn additional Pi based on how many new users they sign up.
Pi Network differs from many other cryptocurrencies in that it employs a proprietary mechanism, derived from the Stellar Consensus Protocol (SCP), which enables users to receive benefits for their participation in the network.
There are four types of users on the Pi Network. These are:
When the Pi Network initially launched, the mining rate was set at 1.6 Pi per hour. Over time, as the network’s user base expanded, the mining rewards were systematically halved:
The mining rewards are expected to continue declining as the network grows, incentivising early participation. The team has set a goal of achieving one billion users, at which point the mining phase may conclude.
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The value of Pi is currently undetermined. It’s an unlisted token that is practically worthless as of November 2024. As a result, there’s no historical data on the Pi Network’s performance since the token has not yet been launched on any cryptocurrency exchange.
Pi Network’s creators have yet to reveal the number of coins in circulation once the project is formally launched, however, the original whitepaper says that the total Pi supply will be 100 billion.
The Pi Network underwent several milestones in its first four years.
In September 2022, the Pi Network announced the launch of PiConnect. PiConnect aims to allow Pi Network users to make interoperable trades with other blockchain networks like Binance Smart Chain (BSC), Ethereum (ETH), Polygon (MATIC) and others quickly, affordably and securely.
In addition to bridging with Blockchain, PiConnect aims to provide farming and staking, a launchpad platform, lending, auctions and a marketplace, among other things.
In September 2022, the Pi Network announced Pi Bridge, which seeks to provide a bridge between the Pi Network and other blockchains, beginning with the Binance Smart Chain (BSC).
Pi Bridge, according to the development team, is a trustless gateway that removes the gap between the Pi Network and other blockchains, making Pi available and reachable to the public and providing Pi users with a new permissionless and transparent financial instrument.
Pi Bridge will enable data to move across networks and Pi holders to transit between them freely. This is also an opportunity for Pi holders to capitalise on the asset’s worth.
Pi coin will launch at the same time as the Pi Network public mainnet, called the ‘Open Network’, and it’ll be listed on cryptocurrency exchanges and trading platforms.
Open Network was originally planned to launch in 2022, but was delayed. A 2023 release date was also suggested which also didn’t materialise.
The Pi Network team stipulated in December 2023 that certain conditions must be met before Open Network and Pi coin can launch, such as:
The last requirement set for the Pi coin launch is ‘the absence of an unfavorable external environment which would hinder the success of Open Network.’
Pi Network issued a press release in June 2024 reporting that over 12 million users had completed identity verification through its native KYC solution, with 5.79 million migrated to the closed mainnet. However, as of November 2024, Pi Network hasn’t announced a release date for Open Network.
As of late-2024, the Pi coin price predictions are mixed:
On November 27, 2024, Techopedia anticipated slow growth with a $0.8 Pi coin price for 2025 that steadily rises to $1.05 in 2030. It notes that Pi Network ‘will undoubtedly experience mass sell pressure throughout 2024’ due to ‘the anticipated unlock of billions of Pi coin tokens,’ and suggests ‘selling pressure may only be offset by one of two events:
Benzinga observed analysts’ Pi coin price predictions for the coming years on November 27, 2024 – which ranged from $0.0849, to as high as $5 by 2030.
The Digital Coin Price forecast on 27 November 2024 provided a bullish long-term outlook. It predicted a $134 Pi coin price for 2025 which rises to $194 in 2026, and above $240 in 2027. They expect the price to average at $577 by 2030, which might increase to $1,076 in 2033.
Meanwhile, Changelly predicted on 27 November 2024 that the Pi price could rise above $5 for 2026, and continue increasing in 2027. While it provides no forecast for 2025, Changelly claims that Pi Network might ‘even exceed the average price we’ve seen it hit before the mainnet launch [by 2030].’ Such prices come from some crypto exchanges offering Pi coin ‘IOUs’ for sale.
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Regarding market data, it’s important to note that Pi coin is not yet officially traded on major exchanges.
The ‘IOU’ (I Owe You) tokens mentioned are speculative and not officially endorsed by Pi Network. As of November 28, 2024, these IOU tokens were trading at approximately $47.30, with a 24-hour high of $60.54 and a low of $46.80. However, “Unofficial IOU tokens related to Pi were trading at approximately $47.30 on November 28, 2024.
These prices are speculative, not representative of Pi Network’s official valuation and they should be treated with caution due to low liquidity and high volatility.
Here are some of the Pi coin price drivers that will potentially impact its stock market performance, once it launches:
Pi Network reported over 12 million users in June 2024.
As for the markets, CoinMarketCap data indicates that the pre-release Pi coin ‘IOUs’ market, exchanged for the real thing upon release, was worth $3.29 billion by market capitalisation in November 2024.
Sustained, active community support could generate immediate and long-term demand for Pi coin, potentially driving the price higher. Early partnerships or collaborations with businesses that accept Pi for payments could also boost its value proposition.
Conversely, if the network fails to provide tangible use cases or if users perceive the project as overhyped, the initial surge in interest could dissipate, resulting in downward price pressure.
Pi Network details its tokenomics structure in its March 2019 whitepaper, including a maximum supply of 100 billion Pi – 80% for the community and 20% for the Pi Core Team.
The yearly supply limit for Pi Network mining rewards will decrease over time, a deflationary mechanic which aims to prevent oversupply and foster long-term value retention. If successfully implemented, this process could incentivise users to hold and stake their Pi – instead of selling it – which could stabilise the token’s value upon launch.
Whether or not these measures work as planned might depend on transparency. If users believe that Pi Network’s tokenomics are implemented unfairly, or in an overly centralised manner, it might erode market sentiment and influence the price to decrease.
Pi Network has garnered a lot of attention from the crypto community, despite not yet being released to the public. Its performance is currently tied to market sentiment and speculative interest, both of which are heavily influenced by milestones and external events, such as PiFest.
PiFest took place in late 2024, and aimed to demonstrate Pi coin’s viability as a payment option for local businesses. Such events, if successful, could generate positive media attention and bolster confidence in Pi as a functional cryptocurrency. Conversely, delays in reaching the mainnet launch or controversies around KYC processes may introduce skepticism.
As an early-stage project, Pi coin’s price movements may be significantly influenced by broader cryptocurrency market conditions, including bitcoin (BTC) and ethereum (ETH) trends.
While direct details on Pi Network’s integration with DeFi platforms remain sparse, the project’s commitment to ecosystem development indicates potential for future applications. If Pi becomes a viable asset for staking, liquidity pools or decentralised lending, it may substantially boost the token price.
Successful integrations could position Pi as a participant in the rapidly expanding DeFi ecosystem, attracting users looking to maximise their returns. For this to succeed, Pi must achieve seamless interoperability with existing protocols.
Pi Network continues to build upon its cross-chain compatibility via applications such as Pi Bridge, it might solidify its position in the crypto market and expand its use cases.
As traders anticipate the launch of Pi Network, let’s look at potential Pi coin trading strategies to consider after launch:
Trend trading strategy aims to make gains from longer-term price trends, either up or down.
Traders might use technical analysis indicators, such as moving averages and relative strength index (RSI), to help identify potential support and resistance levels, as well as entry/exit points.
Swing trading strategy involves aligning trades with price patterns, which traders can identify with the help of technical analysis.
For example, let’s say the Pi coin is declining. By confirming multiple technical indicators, a trader anticipating the price to reverse might go long on Pi coin when the price nears its key support level.
Scalp trading strategy involves ultra-short timeframes (e.g. 1–minute or 5–minute charts), where traders aim to profit from rapid price fluctuations.
Scalp traders often focus on fast-moving, high-liquidity assets – such as cryptocurrencies.
Day trading strategy intends to take advantage of short-term volatility, executing trades based on potential support and resistance levels – identified using technical analysis.
Day traders might execute multiple trades in a single trading session, over the course of a day or less, aiming for profits from intraday price volatility.
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Here are some of the potential risks and rewards of Pi coin, to help you prepare for its upcoming launch:
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Whether or not Pi Network is a good investment depends on your personal financial situation and risk tolerance. It’s essential to conduct thorough research and only invest funds you can afford to lose.
As of November 2024, Pi coins are not available for public trading, as the network is in its Enclosed Mainnet phase. The Open Mainnet launch is expected by the end of 2024, which would enable trading of Pi coins on various exchanges.
Traders might consider participating in the mining process through the Pi Network app. Or they could wait for Open Network to launch, when Pi coin will be available on cryptocurrency exchanges. Post-public mainnet launch, traders may also decide to trade Pi coin via derivatives, such as Contracts for Difference (CFDs).
Determining the safety of Pi coin is difficult, as there are many unanswered questions about its utility, adoption, circulating supply and more.
Cryptocurrencies are inherently volatile, and Pi Network carries additional uncertainties due to its ongoing development and pending Open Mainnet launch. The project’s developers assert that the network is secure; however, some critics have raised concerns about its legitimacy.
It’s crucial to perform your own due diligence by using a combination of fundamental and technical analysis. Always avoid investing more than you can afford to lose.
Predicting the future of Pi cryptocurrency is difficult, as it hasn’t been officially launched for public trading. The Open Mainnet is expected to launch by the end of 2024, which will provide more clarity on its market performance.
As with any investment, it’s important to conduct your own research and invest only what you can afford to lose.
There are currently no Pi coins officially in circulation. The developers have yet to provide any details on the number of Pi coins that will circulate once the project goes live, or what the maximum supply will be.
PI’s performance will depend on how the project develops once it goes live for trading, as well as the effect of overall sentiment on the cryptocurrency markets, among other factors.
As of November 2024, Pi coins are not available for public trading.
If and when they become available, your decision to invest should be based on your individual risk tolerance, investment goals, and thorough research.
Remember that cryptocurrency markets are highly volatile, and past performance does not guarantee future results. Never invest more than you can afford to lose.
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