Newton Gitonga
Pi Network (PI) has traded sideways over the past seven days as bears ruled the crypto space.
However, this consolidation might welcome a significant rebound amid the mainnet launch countdown.
Pi Network braces for Q1 2025 mainnet launch
Pi Network price remains on investors’ radar as the platform braces for the much-awaited mainnet release.
Despite multiple delays, the latest developments add confidence about the potential launch.
Developers unlocked access to mainnet Pi applications in preparation for the Q1 2025 event.
As part of preparing for Open Network in Q1 2025, Pi Network made Mainnet Pi apps accessible through the Ecosystem Interface on the Pi Browser. An initial 20 Pi apps are included, with more apps to come in the future. Pioneers can explore these Mainnet Pi apps, but exercise…
Notably, the highly-anticipated launch will transform the platform from closed to public – accessible to every interested participant.
Moreover, active miners can continue holding or convert their tokens into fiat.
Developers postponed the Pi mainnet launch from the earlier planned December 2024.
The team delayed the launch for more users to complete the KYC verification and send their assets to mainnet.
While the platform has KYC’d more than 18 million users, only 8 million have migrated their coins.
Developers believe launching the mainnet without around 10 million pioneers is unfair.
The project updated the grace period to January 31, 2025. Thus, enthusiasts can expect the mainnet launch in February.
Nevertheless, the project has dented user enthusiasm with its deferments.
The community was annoyed after the recent delay cemented speculations that the launch may not happen soon.
One member advised the team to extend the launch until 2028.
Extend it until 2028 instead of Month by month. Nobody believes this will actually launch anytime soon. Maybe when the bull run is over 🤔.
Pi Coin price outlook
The native token trades at $48.88 after gaining 2% in the past 24 hours.
The daily timeframe reflects notable bearishness after the token approached $100 in November.
Despite the bloodbath, PI’s price sways beyond an upward trendline.
That shows sellers refraining from more shorts beneath the support zone.
Moreover, the altcoin has secured reliable footing beyond the crucial 200-day EMA.
PI appears well-suited for steady surges once stars align.
The prevailing consolidation possibly highlights accumulation trends similar to what preceded November gains.
The upcoming mainnet launch remains the top catalyst for PI’s price recovery.
Bullishness amidst the hype might propel the altcoin towards the $100 resistance.
Overcoming this hurdle could see buyers driving prices to the 2024 highs of $121.
That would translate to a 147% surge from the current price.
Meanwhile, Q1 2025 appears the perfect timing as crypto markets brace for enhanced sentiments after Donald Trump’s inauguration.
Popular analyst Michael van de Poppe expects Bitcoin’s continued weakness around the $90K vicinity in pre-Trump trading, before exploding to new highs.
The scenario on #Bitcoin remains the same.
I’m still expecting that we’ll see some more downwards momentum pre-Trump and return upwards from there.
The ideal area is around $90K.
PI mainnet launch amidst Broad market enthusiasm will propel the altcoin’s price towards its yearly peak of $121 in the upcoming months.
However, another delay will dent community interest in the project, translating to limited growth and price underperformance.
The post PI price outlook: what’s next post Q1 2025 mainnet launch? appeared first on Invezz
