PI Coin Prices Soar 70% After Mainnet News Causes a commotion!

Bittime - Longtime Pi Network players rejoice! The announcement of the Mainnet launch date finally arrived, and the price of PI coin immediately skyrocketed by 70%. Read more!

Pi Network Mainnet: Finally a Reality!

Pi Network, which allows users to mine PI via a mobile app, has repeatedly delayed its Mainnet launch. However, this time, via their official X account, it was announced that Mainnet will be launched on February 20, 2025.

Market Reaction: PI Prices Fly High

After much anticipation, Pi Network has finally announced the exact date for Mainnet launch. This announcement triggered a significant price rally, from below $50 until you can touch it $90 in a matter of hours. At the time of writing, PI prices are at approx $80.91. 

What caused this spike and what can we expect going forward?

What Does Pi Network Say?

“Pioneers, Open Network will launch on February 20 2025 at 8 am UTC or 15:00 WIB! "With millions of KYC verified Pioneers and a growing utility ecosystem, Open Network opens up new opportunities, connecting Pi with external systems for real-world applications," said an official statement from Pi Network.

Read too Just Launched, Here's a Tutorial Using the Pi Network Mainnet!

OKX Ready to List PI: Good News for Traders

Doubts were raised, but crypto exchange OKX has confirmed it will listing PI. Previously, PI (in the form of PI [IOU]) was traded, but not yet available on the open market. Listing on OKEx allows users who have been mining PI for years to trade it on the exchange.

Technical Analysis: PI Breaks Out of Bearish Trend

Before the announcement, the price of PI moved in descending triangle and briefly fell to $37. However, bullish engulfing candle after the announcement drives prices up. MACD also shows momentum bullish.

TradingView/@Victor Olanrewaju

Price Prediction: Could PI Touch $100?

MFI continues to increase, indicating buying pressure. AO also supports momentum bullish. If this trend continues, PI price has the potential to reach $100. However, overbought could trigger a correction to $75.63, or even $60.58 if selling pressure increases.

TradingView/@Victor Olanrewaju

Conclusion: Positive Momentum for Pi Network

Mainnet launch and listing on OKEx is good news for Pi Network. However, remember to do your research before investing.

Read too Pi Network: Is it a Scam or Legit? This is the Answer!

FAQ

1. Why did the PI coin price spike after the Mainnet announcement?

PI prices soared as the Mainnet launch announcement removed uncertainty and brought new hope to PI holders. Plus, the confirmation of listing on the OKEx exchange further validates this project.

2. When will Pi Network Mainnet launch?

The Pi Network mainnet will launch on February 20, 2025 at 8 am UTC or 15:00 WIB.

3. Will PI prices definitely continue to rise?

Even though there is potential for further increases, the PI price could also experience a correction if it is overbought or if selling pressure increases. Always do your research and consider the risks before investing.

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Reference

Victor Olanrewaju, Pi Coin Skyrockets 70% After Mainnet Update Brings Major Changes, Accessed February 13, 2025

Author: IN