Analysts Outline 3 Reasons Why Pi Coin Could Be Set for a Price Rise

Members of the Pi Network community, known as Pioneers, are increasingly expressing confidence in the bullish potential of Pi Coin (PI). This sentiment is driven by a series of notable developments, including prominent industry events, significant market activity, and technical indicators suggesting the potential for bullish. Is the price of Pi Coin (PI) experiencing a bullish spike? After launching the mainnet and reaching a record high at the end of February, the price of Pi Coin has decreased significantly. In fact, at the end of March, PI even dropped below the $1.0 level. Moreover, in the past month, this altcoin has decreased by 30.5%. As of the time of writing, PI is trading at $0.64, marking a modest bullish increase of 0.4% over the past day.

Although the performance is not very impressive, market followers believe a bullish trend may be about to occur. Technically, Pi Coin is currently consolidating around the price level of $0.60. Analysts have identified this as a significant accumulation area. "After a long period of consolidation, PI/USDT is showing signs of a potential breakout — and the next target could be above $3.29!" an analyst predicted. Analysts believe that positive momentum far exceeds price levels. He noted that Pi Network is also attracting attention in practical applications, with a growing community and its ecosystem. This indicates that its value and potential are being supported by factors beyond market price. However, some people remain cautious. Analyst Rananjay Singh emphasizes that although the price remains above $0.60, indicating stability, there are still significant challenges. According to Singh, these challenges include the lack of an open mainnet, not being listed on top exchanges, and the absence of real-world use cases. "Hype can start a run, but only real progress can sustain it. The coming months will reveal the truth," he wrote. Meanwhile, recent market activity supports a bullish outlook for PI. According to data from PiScan, large holders or whales are withdrawing significant amounts from exchanges. "342 million PI is still on the exchanges. In the past 48 hours, more than 20 million PI has been withdrawn from the exchanges. This indicates accumulation," a user posted.

This trend is often associated with the risk of a bullish move due to a decrease in foreign exchange supply. Finally, another important factor contributing to the bullish outlook is the upcoming appearance of Dr. Nicolas Kokkalis, the founder of Pi Network, at Consensus 2025 in May. Kokkalis's participation is expected to enhance the visibility and credibility of the project, potentially attracting greater interest in Pi Coin. "With the presence of Nicolas Kokkalis at Consensus 2025, the prestige of Pi Network on Web3 will be bullish," a user affirmed. The convergence of these factors—the improved visibility from Consensus 2025, significant withdrawals from exchanges, and promising technical indicators—has positioned Pi Coin for potential breakout. However, it is important to consider the potential selling pressure from the token unlock. Therefore, the coming weeks will be crucial in determining whether these expectations materialize.