What Could Move Pi Coin’s Price Today? 3 Updates from Pi Network That Could Have a Big Impact

Pi Network is capturing attention today, May 14, as developers prepare to reveal significant updates at the Consensus event. With Pi Coin already experiencing a rally in anticipation, speculation is mounting regarding the nature of the announcement — and how it might impact the network’s trajectory.

Ecosystem Fund to Drive Developer Interest

The most anticipated announcement is the potential launch of an ecosystem fund. Last week, Pi Network hinted on X (formerly Twitter) that the focus would be on the ecosystem. An ecosystem fund could incentivize developers to build decentralized applications (dApps) on the Pi Network, mirroring successful strategies employed by other blockchain networks.

For instance, Solana launched a $300 million fund, while Polygon and Avalanche allocated $415 million and hundreds of millions, respectively, to attract talent. Pi Network, however, has struggled to attract developers, and a fund could provide the necessary boost to foster innovation in sectors like decentralized finance (DeFi) and gaming.

Exchange Listing Speculation Fuels Optimism

Another topic gaining traction in the Pi community is the possibility of a major exchange listing. Currently, the coin is listed on mid-tier platforms such as MEXC, BitMart, and OKX, but it is noticeably absent from top-tier exchanges like Binance, Coinbase, and Kraken.

While a major exchange listing would likely propel Pi Coin’s price and legitimacy, the probability of this being the announcement remains low. Typically, such listings are disclosed by the exchanges rather than the projects themselves. Nevertheless, speculation has already driven Pi Coin’s price higher in anticipation.

Also Read: Pi Network Price Forecast: 265M Tokens Unlocked – What’s Next for the 234% Rally?

Token Burn to Alleviate Supply Pressure?

The third potential announcement speculated by the coin community is a token burn. With over 1.3 billion tokens set to unlock this year, a burn could help reduce sell pressure and stabilize prices. A token burn effectively reduces supply, a move often associated with price increases.

Technically, Pi Coin has completed the first two phases of the Elliott Wave pattern and is now entering the third, which is typically the strongest. Analysts suggest that Pi Coin could surge toward the $2.45 mark if bullish momentum continues, with a token burn or ecosystem fund likely serving as the catalyst for further gains.

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.