Pi network (PI) can explode by 75%, but under this critical condition (analyst)

A rise to $0.37 or a further crash: what’s next for PI?

One analyst supporting this position outlined an essential condition that must be met for this to happen.

75% Pump incoming?

PI has resonated with the broader crypto market crash, with its price falling 5% daily to $0.21 (according to CoinGecko data). While the current valuation represents a massive 92% drop from the all-time high of $3 in February, X user Marzell saw some encouraging signs.

In a recent one afterhe opined that PI “remains firmly above the $0.21 support, showing clear signs of accumulation.” According to the analyst, a move above $0.26 could open the door for a rise to $0.37 (a level last seen in late September).

X user PiNetwork DEX expressed a similar view. She claimed The PI has stabilized at a range of $0.20 – $0.22 and could head towards $0.29.

It is worth mentioning that some bearish factors, such as the unlocking of several million tokens, could prevent such a rally. More than 150 million PI are scheduled for release over the next 30 days: a development that gives investors the chance to sell coins they’ve been waiting for for a while.

Furthermore, the number of tokens stored on centralized cryptocurrency exchanges remains significant. Data shows the number is around 424 million, with more than half of them on Gate.io.

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Recent Pi Network Developments

The price drop of PI has occurred despite the numerous developments surrounding the project behind the token. In late October, Pi Network Ventures, an entity within the ecosystem that invests in startups and companies across multiple sectors, made its first investment in the AI ​​sector. It partnered with OpenMind, a company developing an operating system for robots “to think, learn and work together – like Android for robots.”

A few days later, Pi Network surpassed the 100 million downloads milestone. In comparison, the applications of market leaders such as Coinbase and Crypto.com lag behind with approximately 50 million and 10 million downloads respectively.

Late last week, the team at Pi Network announced a new update for the Pi Node, upgrading it to version 0.5.4. The ultimate goal is to improve accessibility and reliability and address the Pioneers’ problems.