Tag: release

  • Analyst holds $5 target for Pi Network ahead of major token release

    Analyst holds $5 target for Pi Network ahead of major token release

    Pi Network will rise to $5 despite 5.6M token unlock

    • The over $$138.252 million Pi Network token unlock on over the next 30 days may pressure Pi’s price.
    • Whales have moved 41M PI off exchanges, hinting at a rebound.
    • Analysts predict $5 target with market and ecosystem growth.

    Pi Network token has had a rough patch recently, with the Pi Network price dipping 80% from its all-time high to around $0.63 and struggling to gain momentum amid daily token unlocks.

    Despite the immense bearish pressure exerted by the token unlocks, a bold Pi Network price prediction has emerged from analysts, one of whom foresee the PI token climbing to an impressive $5.

    Why the $5 Pi Network price prediction could be realistic

    To start with, Pi Network price today sits at around $0.63 with a sturdy support at $0.60, a zone some experts believe could serve as a springboard for a breakout toward higher valuations.

    Technical analysis reveals a double-bottom pattern with a neckline at $0.7857, hinting at a possible breakout, while price prediction models suggest a climb to $1.83 by May 2025; a 190% jump from today.

    Adding fuel to the optimism, Pi Network founder Nicolas Kokkalis is slated to speak at Consensus 2025, a major crypto event, signaling a boost in credibility for the project amid the latest Pi Network news.

    Notably, Kokkalis’ appearance at Consensus 2025 alongside crypto giants like Eric Trump and Bo Hines coincides with the unlock of 5.6 million tokens, a move that could either weigh on the price or be absorbed by growing demand, depending on market dynamics.

    At the same time, Pi token whale activity is turning heads, with a single investor withdrawing 7.5 million PI token valued at $4.82 million from OKX, part of a broader $48 million accumulation now worth $31 million.

    From a broader perspective, whales have move approximately 41 million Pi tokens from crypto exchanges, signaling at massive accumulation.

    Such large-scale accumulation suggests confidence in the Pi Network value, potentially foreshadowing a price surge as these investors position themselves ahead of key milestones.

    Analysts also point to several drivers that could spur a potential recovery, including an improving cryptocurrency market, clearer Pi Network tokenomics, listings on top-tier exchanges, and broader ecosystem growth; all critical for the Pi Network price prediction to materialize.

    A listing on exchanges like Binance or Coinbase could also ignite investor enthusiasm, pushing the Pi Network price beyond its stubborn resistance at $0.70, a level it has repeatedly failed to breach.

    Beyond that, expanding real-world use cases for the PI token, such as applications or services accepting it, could solidify its utility and bolster long-term value.

    Possible handles that could curtail Pi Network’s rise

    The planned unlock of 219,065,154.07 tokens over the next 30 days and over 1.5 billion tokens over the next year raises concerns about dilution.

    Pi Network token unlocks over the next month

    And to make things worse, 35 billion PI tokens are held by insiders against 65 billion allocated to the community, a factor that could challenge the Pi Network price.

    In addition, the Pi Network open mainnet launch problems, as users struggle to migrate to the mainnet, has limited exchange presence, keeping its market cap at $4.3 billion and its price in a holding pattern.

    Nevertheless, the team has unveiled an elaborate Pi Network tokenomics with a total supply of 100 billion tokens; 65% allocated to community mining rewards, 10% to the foundation, 5% to liquidity, and 20% to the Core Team, and designed to scale with community migration to the mainnet.

    This tokenomics structure aims to ensure fairness and prevent early dumping, tying the network’s progress to the speed of Pioneer adoption, a unique approach that could stabilize the Pi Network value over time.

    In essence, while the 5.6 million tokens unlock poses a near-term risk, the $5 Pi Network price forecast hinges on Pi Network overcoming its challenges and capitalizing on its ecosystem expansion, making the Pi Network mainstream adoption a critical watchpoint.



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  • Bitcoin remains close to $17k after FOMC minutes release: Will BTC rally soon?

    Bitcoin remains close to $17k after FOMC minutes release: Will BTC rally soon?

    • Bitcoin price steadied above $16,800 as US Federal Reserve officials agreed to slow its pace of interest rate hikes.

    • The latest FOMC minutes indicate that US policymakers are focused on controlling the pace of price hikes.

    • Bitcoin could surge past the $17k resistance level soon.

    BTC eyes the $17k resistance level

    The United States Federal Reserve recently released minutes from the Federal Open Market Committee for December. Fed members agreed that a restrictive policy stance would need to be maintained for now until the incoming data provided confidence that core inflation was on a sustained downward path back down to 2%.

    This latest cryptocurrency news saw Bitcoin, the world’s leading cryptocurrency by market cap, maintain its price above the $16,800 level over the last 24 hours. It has lost less than 1% of its value, and the price of Bitcoin now stands at $16,834. 

    The broader crypto market is also recovering from its recent slump. At press time, the total cryptocurrency market cap stands at $819 billion, up by less than 1% in the last 24 hours.

    Key levels to watch

    The BTC/USD 4-hour chart is bullish as Bitcoin has held its ground above the 50-day Exponential Moving Average (EMA) at $16,714 over the last few days. 

    The MACD line is above the neutral zone, indicating that the leading cryptocurrency has preserved its downward trend from the standpoint of realised price. The 14-day RSI of 61 also shows that more bulls controlling the market could see BTC enter the overbought region. 

    If the bullish momentum increases, BTC could surge past the first major resistance level at $17,145 over the next few hours. However, Bitcoin could struggle to surpass the second major resistance level at $17,485 in the short term, unless it gains support from the broader crypto market. 

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