Pi Coin (PI), the native cryptocurrency of Pi Network, is once again capturing attention, with many enthusiasts eagerly awaiting its long-anticipated rise. After a dramatic decline of nearly 80% from its all-time high of $2.99 on February 26, the coin is showing signs of a potential recovery.
Recent technical indicators suggest that PI could experience a 50% rally in the near future. Market analysis and price trends indicate that the coin may be poised for a positive reversal, spurring renewed optimism among investors.
In conjunction with this potential rally, Pi Network has provided an updated explanation of its tokenomics, shedding light on its long-term strategy. According to the 2021 Whitepaper and subsequent updates, the total supply of Pi is capped at 100 billion tokens. The allocation breakdown is as follows: 65% for community mining, 10% for the foundation, 5% for liquidity, and 20% for the Core Team. These proportions adjust with user migrations to maintain consistency.
Technical Indicators Show Signs of Reversal
Pi Coin’s price action has been favorable recently. On April 17, the coin broke through a significant resistance level, signaling the end of the downturn that began in early March. This breakout was accompanied by a “rounding bottom” pattern on the daily chart, a classic bullish signal that often precedes trend reversals.
The Money Flow Index (MFI) has also risen to 67.47, indicating that buying pressure is increasing. If this momentum continues, PI may surpass the 20-day Exponential Moving Average (EMA), potentially pushing its price higher.
Moreover, the Moving Average Convergence Divergence (MACD) indicator has shifted to a positive position, confirming that the 12-day EMA has crossed above the 26-day EMA, another bullish sign. If the current trend persists, Pi Coin could rise by as much as 50%, possibly reaching $0.96, aligning with a key Fibonacci retracement level (0.786).
Risks and Outlook
Despite the positive technical signals, traders must remain cautious. If the upward momentum falters or the EMAs revert to a bearish position, PI could experience a drop back to $0.40. While the combination of renewed price strength, transparent tokenomics, and increased community activity could lead to a short-term rally, the market remains unpredictable.
For now, both Pi Network’s community and traders are watching closely to see if Pi Coin can maintain its bullish momentum and fulfill its potential for growth.
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