The Pi Network, a unique cryptocurrency and developer ecosystem enabling users to mine PI coins, has finally announced the official launch date for its long-awaited Mainnet. This news has triggered a massive rally in PI’s price, which skyrocketed by an astonishing 70% within just a few hours. As anticipation builds, investors and enthusiasts alike are speculating on the future of this digital asset. Will PI coin continue its upward momentum and reach $100, or will it face another setback? Let’s dive into the details.
Pi Network’s Mainnet Set to Launch on February 20, 2025
For years, the Pi Network has teased its community with multiple announcements regarding its Mainnet launch, only to delay the process time and again. However, the long wait finally appears to be over. Yesterday, through its official X (formerly Twitter) account, Pi Network confirmed that the Open Network Mainnet will officially go live at 8 AM UTC on February 20, 2025.
The statement read:
“Pioneers, Open Network will launch at 8 AM UTC on Feb. 20, 2025! With millions of KYC-verified Pioneers and a thriving utilities-driven ecosystem, Open Network expands available opportunities, allowing Pioneers to connect Pi with external systems for use in real-world applications like never before.”
While skepticism still lingers among some community members who recall previous delays, this announcement holds significant weight due to a crucial development—crypto exchange OKX has confirmed its plans to list the cryptocurrency. This move signals strong confidence in Pi Network’s Mainnet launch and opens doors for users to finally trade PI coin freely.
PI Coin’s Price Explosion: What Happened?
The mere confirmation of the Mainnet launch was enough to send PI coin’s price soaring by 70%. Prior to the announcement, PI was struggling within a descending triangle pattern, trading as low as $37. However, once the statement was made public, a bullish engulfing candle emerged, propelling the coin’s value from below $50 to an astonishing $90+ within hours.
At the time of writing, PI coin has slightly retracted to $80.91, yet the overall market sentiment remains bullish. The surge in price was further validated by technical indicators, showing strong positive momentum for the cryptocurrency.
Key Technical Indicators Show Bullish Momentum
Analyzing PI’s price action, several technical indicators point towards continued bullish movement:
- Moving Average Convergence Divergence (MACD): The MACD indicator has turned bullish, suggesting sustained upward momentum.
- Money Flow Index (MFI): The rising MFI value indicates an increase in buying pressure, confirming strong demand for PI.
- Awesome Oscillator (AO): Green histogram bars on the AO indicator further validate the bullish sentiment surrounding the coin.
These technical signals suggest that if current momentum holds, PI coin could soon test the $100 resistance level.
Can PI Coin Hit $100? Price Prediction & Market Outlook
With renewed excitement surrounding Pi Network’s Mainnet, traders and analysts are now questioning whether PI can surpass the $100 milestone.
- If buying pressure continues, and demand remains high, PI’s price could surge beyond $100 in the short term.
- If the market enters a correction phase, PI coin could experience a temporary pullback to around $75.63.
- If selling pressure intensifies, PI might drop further to $60.58, but strong support levels could prevent a deeper decline.
The Future of PI Coin: What’s Next?
With the Mainnet launch date set and major exchanges preparing to list PI, the cryptocurrency is entering a crucial phase. The next few weeks will determine whether it can solidify its place among the top digital assets or face another wave of volatility.
For investors and traders, all eyes are now on February 20, 2025. If Pi Network delivers on its promise, the project could see a massive influx of new users and liquidity, propelling PI coin to new all-time highs. However, any unforeseen delays or setbacks could trigger another round of price corrections.
One thing is certain: the Pi Network revolution is closer than ever, and the crypto world is watching closely. Stay tuned as we track this exciting journey toward the Mainnet launch!
