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The Pi Network price has recently experienced a 10% decline over the past week, reflecting the broader cryptocurrency market downturn. After a sharp rise in November, the token has slipped back into bearish territory, with its current value at $48.11. This correction mirrors trends seen across the market, including Bitcoin’s recent dip to around $95,000, suggesting further downside potential before any rebound.
Is a 30% Drop on the Horizon for Pi Network?
Pi Network’s price trajectory has been volatile since its inception. Despite a 12% rise in the past month, analysts predict a potential 30% drop, which could see the token’s value fall to $33. This would align with the demand levels of $36.87 and $33.14, where previous activity surges once propelled the price to $100 — a key psychological resistance point.
Technical analysis paints a mixed picture. On the 4-hour chart, the RSI hovers near the neutral 50 mark, while the MACD shows a slight bearish crossover, signaling potential downward pressure. However, a market recovery could push the price toward a $50 resistance level, offering a glimmer of hope for investors.
2025 Launch and the Role of KYC
The Pi Network is gearing up for its Open Network launch in Q1 2025, with KYC (Know Your Customer) verification playing a pivotal role in this transition. The process aims to onboard more pioneers to the Mainnet, ensuring seamless integration and enabling active participation using Pi tokens.
This strategic preparation could influence Pi’s market recovery. As the network nears its full launch, increased adoption and successful KYC processes might bridge the gap between early adopters and the broader market, potentially setting the stage for future growth.
Also Read: Pi Network Restores “Forgot Password” Feature to Safeguard User Accounts and Pi Coins
While Pi Network faces short-term challenges, its long-term prospects remain tied to market sentiment and its ability to adapt to the evolving crypto landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
