Pi coin stands out from the crowd of cryptocurrencies. Despite being only available for mining and not being listed on any crypto or non-crypto exchanges, it has garnered significant attention and interest globally.
The robust technical base of the Pi Network has already drawn a large number of loyal followers and crypto enthusiasts who are keen to discover Pi price forecasts.
Let’s dive now into everything about the Pi Network and estimate the highest price of the Pi Network by examining the Pi coin price forecasts for 2023-2030 provided by cryptocurrency specialists.
What is Pi Network?
Let’s first understand what the Pi Network trading platform is. Does the Pi Network hold any value? The Pi Network is distinctive in numerous ways, not just because the cryptocurrency is not yet listed on any exchanges.
For starters, mining the Pi coin is relatively straightforward. The creators think that you can mine the cryptocurrency on your smartphone. All you need to do is download the Pi Network app and receive an invitation from existing trusted members.
Unlike other mining apps, the Pi Network trading platform is environmentally friendly and doesn’t deplete your phone’s battery. It thrives on users endorsing each other as they strive to secure their ledger. To start mining the Pi cryptocurrency, you need to launch the app once every 24 hours and press the lightning button.
There are several ways to boost your mining speed. Early members can earn higher rates. You can receive a 25% bonus by inviting other trusted members to join the Pi app.
After three days of mining the Pi cryptocurrency, you become a contributor by inviting 3 to 5 people to join your trusted circle, which enables you to increase your earnings and enhance the overall security of the Pi Network.
The Pi Network is a digital currency initiative. Its primary objective is to democratize cryptocurrency mining. Unlike Bitcoin mining, which has made cryptocurrency mining inaccessible to ordinary users, the Pi Network enables you to mine coins using a mobile phone app.
As part of this, Pi nodes validate transactions on a distributed ledger and reach a consensus on the order of new transactions that the ledger records. Pi nodes form security groups consisting of three to five individuals.
These security circles establish a global trust network that deters fraudulent transactions. All transactions will only be approved on the shared ledger in the Pi Network if all trusted Pi nodes validate them.
The Pi Network trading platform is more than just a cryptocurrency mining app. It’s a network of related services, including
- A beta version of the Pi wallet that enables you to make payments in 8 seconds.
- The Pi browser app is also on offer, allowing developers to test and launch decentralized third-party Pi apps.
- The Pi Network also permits users to become Pi nodes. However, it doesn’t offer you any benefits currently.
- Pi nodes validate transactions. The owners of Pi nodes will only be able to receive a portion of transaction fees when the open mainnet launches and the Pi coin gets listed on cryptocurrency exchanges.
An individual can only have one Pi account, and 25% of all Pi coins are allocated to the Pi core team. Recently, the project launched a closed main net, which only allows users within the Pi ecosystem to trade Pi Network, to buy and sell Pi Network coins.
One needs to complete KYC verification to initiate trading. If you have faith in the project’s future and are optimistic about the Pi Network price prediction, you can trade Pi Network to acquire your Pi node now. Recently, the number of Pi nodes has surpassed 12,000.
PI Technical Analysis
PI Network is presently in Phase 3, which was initiated in December 2021 with the launch of the Pi mainnet. It’s crucial to note that the mainnet is currently in a closed network phase, where it is safeguarded by a firewall to ward off any unwanted external connectivity.
The developers of the Pi Network have yet to disclose details on the number of coins that will be in circulation when the project is officially launched. The maximum supply is yet to be declared.
Based on data from 6 December 2023, the overall sentiment for Pi Network’s value prediction is neutral. Technical indicators suggest that Pi Network’s 200-day SMA is anticipated to rise in the forthcoming month and reach $32.72 by 4 January 2024.
The short-term 50-day SMA is projected to hit $36.26 by the same date. The Relative Strength Index (RSI) momentum oscillator currently stands at 52.27, indicating a neutral position for the Pi market.
Pi Network Price Prediction
Since the cryptocurrency hasn’t been officially launched yet, many experts are cautious about the Pi coin’s price prediction. The Pi Network doesn’t have a price history either, which makes it challenging for us to analyze how its price reacts to the crypto market’s movements.
What should we do in this scenario?
Most experts tend to resort to pure speculation. It’s even impossible to conduct a comprehensive fundamental analysis.
To discuss the Pi coin’s price prediction, we need to assess the cryptocurrency’s current and potential use case, consider the number of people that already hold Pi coins, the team of developers behind it, the Pi Network’s future potential, etc.
In Pi’s case, there’s no way we can predict how many users will hold the coins when the Pi Network becomes operational.
Not many platforms are prepared to discuss the Pi Network price prediction. However, some crypto experts have already begun to share their views about the anticipated future value of the Pi Network. let us now look at the price predictions of pi in 2024.
Predictions for Pi Network price in 2024
The current price of Pi Network is publicly displayed on several crypto exchanges, including Huobi, which initiated Pi trading on 29 December 2022. However, the Pi Network is still in its Enclosed Mainnet phase; during this period, Pi transactions via exchanges are prohibited.
While there is abundant speculation about the Pi Network value forecast, it remains unpredictable. At present, millions of active miners and users are safeguarding the Pi Network in beta mode, positioning it for growth once the network eventually goes live.
We believe that the Pi coin will only realize its true value when the Pi Network introduces its open mainnet to the public. If this materializes, the Pi project will certainly showcase its innovations.
CoinDataFlow Pi Network Value prediction for 2024 upward
CoinDataFlow offers a Pi Network price forecast based on Bitcoin’s growth trajectory. It predicts the Pi coin’s price will hit a low of $31.71 or a high of $35.80 in 2023.
In 2024, the Pi coin is projected to reach a peak of $70.51. CoinDataFlow forecasts the 1 Pi Network price will touch $227.81 in 2030 and $256.27 in 2032.
Crypto Investor Pi Network Price prediction for 2024
According to Crypto Investor’s Pi Network price forecast, the PI coin might be trading at approximately $139.05 by the end of 2023.
Reddit Community Pi Network Value Prediction for 2024
The Reddit Community predicts the PI coin should yield long-term gains. The Pi Network price might reach the target of over $50 by the close of 2023.
Crypto Ground Pi Network Price Prediction for 2024
Crypto Ground anticipates a bright future for the Pi Network. The Pi coin’s price might soar to $92.79 by 2026.
CoinSwitch Pi Network Price Prediction for 2024
CoinSwitch predicts that the price of the Pi coin could escalate to $185.26 by 2026.
General Pi Network (PI) Future Value predictions
The future of the Pi Network hinges on its transition from Testnet to Mainnet operations and the adoption of the app within the Pi Network ecosystem. Predictions of Pi Network’s value might reveal an extraordinarily promising potential.
The cryptocurrency could be a decent investment and provide an opportunity to contribute to the Pi Network’s growth.
The future price of the Pi coin is uncertain
The Pi Network aims to democratize blockchain technology by enabling anyone to mine crypto. However, the platform has been beset with controversies.
The incentive structure heavily leans towards recruitment, and miners are rewarded in a native cryptocurrency that currently holds no real value.
Investors are advised to tread carefully when dealing with this type of speculative cryptocurrency venture.
PI Price Prediction Today
Pi Coin has the potential to touch $100 in the future, but there is also a chance that it may have no value at all.
The value of Pi Coin will be influenced by various factors such as user adoption, demand, and the state of the cryptocurrency market.
As always, conduct thorough research before deciding to invest. Never invest more than you can afford to lose.
What is cryptocurrency halving?
Like Bitcoin, the Pi coin was designed to undergo halving to preserve its scarcity. PI Network halving happens when the number of coins a miner receives for processing new transactions is cut by half at specific milestones.
The mining rate for PI initially halved from 1.6 π to 0.8 π per hour when the user count hit 100,000.
It further halved to 0.4 π per hour at the 1 million user mark and again to 0.2 π per hour when there were 10 million users. These rewards will continue to halve until they reach zero when the network hits one billion users.