Pi Network Price Forecast & Market Insight
Did you know that Pi Network has an amazing 55 million users1? They mine Pi coins on their smartphones. It started on March 14, 20192. This new crypto has quickly drawn a crowd. It’s known for letting people mine from their phones and for its large group of users. It’s also known for its interesting market activities. Right now, there are about 68 million PI coins out there2. And, the price of Pi Network has gone up by 9.63% in the past week2. This shows that people are really excited about Pi Network and that excitement isn’t going down anytime soon.
Whether you know a lot about investing or are just starting to learn, it’s important to understand Pi Network and its possible future. Let’s dive into what impacts Pi Network’s price, like past behavior, market trends, and how it might be used and adopted in the future.
Key Takeaways
- Pi Network is becoming a big deal with a new way to mine on mobile.
- More than 55 million people mine Pi coins on their phones1.
- The current price of Pi Network has gone up by 9.63% in the last week2.
- DigitalCoinPrice says Pi coin might hit $60 by the end of 2024 and $200 by 20302.
- It’s key to know about Pi Network’s value and what it could do in the future for smart investment choices.
Introduction to Pi Network
The Pi Network is a new kind of blockchain protocol made by Stanford graduates. It aims to bring cryptocurrency to more people through mobile mining3. Using a mobile-first approach, it works on the Stellar Consensus Protocol (SCP) for better scale and safety. This allows users to mine Pi cryptocurrency easily4.
Since starting, the Pi Network quickly grew to over 16 million users by February 2023. Now, it has reached more than 47 million users in 230 countries45. This network makes mining Pi coins easy. Just press a button on the app every 24 hours4. The idea is to make crypto mining open to all, without needing complex machines.
Pi Network’s big goal is to create a digital economy that’s easy for everyone to join. They plan to move from a testnet to a mainnet soon. This move will make Pi more functional and secure4. The mainnet launch could really make Pi more popular and easy to use, fitting the network’s aim for a friendly and open blockchain platform5.
The Pi Network stands out with its strong vision. It wants to bring decentralized digital assets into the mainstream with mobile mining. This could change the way newcomers interact with the crypto world5.
What is Pi Network?
The Pi Network is an innovative digital money project that aims to make a new cryptocurrency for everyone. It was started in 2018 by people who finished Stanford. They wanted to make it easy for folks to get into cryptocurrency through their phones6.
Pi Network makes mining easy for everyone. Unlike other digital currencies that need a lot of power, Pi does not. This makes it possible for more people to join in. The network can hold up to 100 billion tokens, following blockchain’s safe and open rules7.
Pi Network is growing a large group with its digital money project. Today, Pi tokens are valued at $31. In a single day, their price can go up to $35.41 or drop to $29.788. Even though its market value is $0 right now, Pi has a lot of room to grow8. This project isn’t just about making money accessible. It’s also about setting the stage for more apps in the future, using its blockchain.
The Current State of Pi Network Price
The Pi Network is really interesting in the crypto market because of how it lets people mine in a community-driven way. When we look at the Pi Network’s price today, we find some cool facts about where it stands in the market.
Live Pi Network Price
Right now, the Pi Network price is at $32.44, which is a drop of -2.74% from yesterday6. Its recent value was a bit higher at $318. In the last month, the price of Pi Network fell by -15.96%6. The highest price in the last 24 hours was $35.41, and the lowest was $29.788. This shows its price changes a bit day to day.
Market Position
The Pi Network’s market cap is really big, sitting at $3.24T6. It hit an all-time high of $299.20 but has since dropped -89.94% from that peak 635 days ago8.
With a trading volume of $9.67M in the last 24 hours6 and a 24-hour volume of $352.31K8, Pi is pretty active in the market. It has a total supply of 68.00M coins, with a max supply of 100.00B6. This hints at its huge potential for growth as more coins are issued.
The Fear & Greed Index for Pi Network is showing 59, which means investors are feeling greedy6. This fits with Pi’s growth rate of 156.96% yearly over the last three years. It shows Pi is doing well in the crypto world6.
| Metric | Value |
|---|---|
| Current Price | $32.446 |
| 24h High | $35.418 |
| 24h Low | $29.788 |
| 24h Price Change | -2.74%6 |
| Market Cap (Diluted) | $3.24T6 |
| 24h Volume | $9.67M6 |
| All-Time High Price | $299.206 |
| All-Time Low Price | $17.046 |
| Total Supply | 68.00M6 |
| Fear & Greed Index | 596 |
Historical Performance of Pi Cryptocurrency
The history of Pi cryptocurrency has caught the eye of many. Looking at the Pi token’s price early on tells us about its future possibilities. It’s an important part of seeing where it might go.
Early Days
At the start, Pi Network grew fast and reached several key moments, like its first halving. The tech behind it and how people got involved were key. Yet, without it being on big exchanges yet, hard data is limited. But early supporters were hopeful.
Recent Trends
Now, we can see clearer trends in Pi Network’s price. As of the latest, it’s at $32.44 with trades worth $9.67 million in a day96. Predictions say the price could jump to $99.75, up by 224.10%9. In 2022, it soared by 400%, but in 2023, it fell by 86.08%6.
The market sees Pi Network as pretty unstable with a 5.07% volatility rate. The Fear & Greed Index is at 59, showing a greedy market mood9. Price fluctuated a lot in the past year, between $27.88 and $130.88, showing big swings6. The market moves around key high and low points, with support at $28.69, $26.27, and $22.99 and resistance at $34.40, $37.67, and $40.1096.
Looking ahead to 2030, the low might be around $75.42 with a high at $122.28. It suggests strong growth is possible9.
Pi Network’s Roadmap
The Pi Network roadmap is planned out in detailed phases. Each one helps push digital currency forward. At the start, they focused on getting lots of users involved. They now have over 47 million people taking part, showing how popular it’s become10. As more users joined, the amount of Pi earned per hour changed. It went from 1.6 π to 0.2 π as the number of users grew10.
What makes Pi blockchain stand out is its privacy. They haven’t shared their source code with the public yet10. This is a first in the world of digital currencies. Pi Network also started new features like Staked DMs. This lets users send messages by using their Pi, which makes the network more useful and fun10.
Already, 2.7 billion PI coins have moved to the Pi Network mainnet. This shows a lot of user involvement11. The focus now is on completing KYC (Know Your Customer). This is essential for moving more PI coins to the mainnet11. By March 2024, over 9 million users had passed their KYC. This is great progress for the planned launch of the open mainnet by late June 202511.
The Pi Network team wants to make their digital currency even better. They are updating their mobile and browser apps11. These updates make signing up easier, improve how things look and work, and help keep users interested. Soon, they might reach 50 million users11.
| Milestone | Achievement | Reference |
|---|---|---|
| Early User Engagement | 47 million participants | 10 |
| First Mining Rate Halving | From 1.6 π to 0.8 π per hour at 100,000 users | 10 |
| Mainnet Coin Migration | Over 2.7 billion PI coins migrated | 11 |
| KYC Completion | 9 million users completed KYC by March 2024 | 11 |
Factors Influencing Pi Token Price
Knowing what affects the price of Pi token is important for potential investors. The price of Pi token is influenced by how many people use it and new tech developments.
Adoption Rates
Many people joining the Pi Network can push the token’s price up. With over 60 million active users worldwide and more than 29 million registered1213, Pi has a strong community. This big group of users might want more Pi tokens when they can start trading them. If shops start accepting Pi, its demand and price could go up13.
The more people use Pi, the more its price could grow. Prices might even hit $100 if the market really likes it12.
Technological Developments
Pi Network uses a smart, low-energy tech based on Stellar’s system12. Making Pi easy to get on phones has earned it praise. Its solid tech and possible future availability on big exchanges can raise its profile and worth12.
Yet, Pi faces hurdles that could affect its value12. Keeping the community happy, following rules, and facing competition are big tasks. Still, if Pi keeps growing its services, more people might use it, raising its token price.
Market Predictions for Pi Coin
Looking into Pi Network price predictions is complex. Experts focus on several key aspects to forecast Pi’s price. As of August 27, 2024, the price of Pi Network (PI) is $36.49. It has a market value of $2,481,057,332 and a supply of 68,000,000 PI14. While the future value of Pi coin is uncertain, some indicators show where it might head.
Various experts offer different views on Pi coin’s future value. An optimistic forecast for October 2024 suggests a jump to $99.75. That’s a 224.10% increase9. The current Fear & Greed Index is 59 (Greed), hinting at positive feelings9.
The past price movements of Pi also help predict its future. Notably, it hit a high of $330.65 on December 30, 202214. It also fell to its lowest at $0.1794 on April 7, 202414. The 50-Day and 200-Day SMAs, at $34.45 and $38.04 respectively, are key to analysis9.
Predictions for Pi Network in 2025 show a wide range of possibilities. They suggest it could dip as low as $30.78 or rise to $143.449. By 2030, yearly predictions place Pi as low as $75.42 and as high as $122.289.
To delve deeper into Pi Network price predictions, visit CoinCodex. There, you’ll find detailed analyses on resistance, support levels, and much more. The FAQ section also covers common questions about Pi’s future14.
Potential Use Cases of Pi Cryptocurrency
The Pi Network is growing and its cryptocurrency has many promising uses that could change different areas. Making Pi transactions easy is important, which helps more people use and adopt it. Pi Coin stands out because you can mine it on your phone and it uses the Stellar Consensus Protocol (SCP). These features lay a strong foundation for its many uses.
Transactional Uses
Imagine using Pi to buy food, pay for your electricity, or shop online. This could replace the need for cash and credit cards, offering a simpler way to pay15. Pi could also allow you to send money to friends and family, whether they’re close by or far away15.
Decentralized Applications
Decentralized apps (dApps) will greatly benefit from the Pi Network. With Pi, developers can build secure and scalable dApps for different needs16. These could include apps for managing digital IDs, offering financial services, or helping people connect, making the web decentralized and efficient.
NFT Transactions
Non-fungible tokens (NFTs) are another area where Pi can have a big impact. As the NFT market grows, using Pi for these transactions has many benefits16. The security, scalability, and low costs of the Pi Network can make NFT trades better. Using Pi could make NFT transactions quicker and safer, expanding the market.
The Pi Network is making strides with millions of users and a move from Testnet to Mainnet16. Continual improvements and tackling issues like regulation and market changes are key. People who love technology and creators are excited to see how Pi will be used as it grows and matures14.
Pi Network’s Enclosed Mainnet Phase
The Pi Network Enclosed Mainnet phase is a key time for the Pi Network. In this stage, the network goes through a lot of testing and improvements. The Pi Core Team works hard on checking the system and making it better. They want to make sure everything is stable and safe17. Their main aim is to smoothly move to the Open Mainnet. They are improving the infrastructure and getting ready for more users17.
The Pi Network’s Pioneer community has grown massively, now with over 60 million members worldwide17. This highlights the community’s trust and belief in the project. The network also has many Nodes in different countries. This makes it more spread out and secure17.
During this phase, Pioneers can do transactions within the Pi ecosystem2. However, these transactions are kept within the network. They can’t interact with outside blockchains or systems. This makes the testing safe and controlled2.
The payment system of the Pi Network is all set for the move to the Open Mainnet17. The Pi Core Team is working with payment services to make sure Pi Coin works well with usual payment ways. They aim to make Pi Coin accepted in different places, from restaurants to online shops17.
Here’s a summary of essential points about the Pi Network Enclosed Mainnet:
| Aspect | Details |
|---|---|
| Community Size | 60 million+ members globally17 |
| Pioneer Activities | Transactions within Pi ecosystem2 |
| Restrictions | No interaction with external blockchains2 |
| Development Efforts | Rigorous testing and optimization17 |
| Payment Integration | Collaboration with payment service providers17 |
The enclosed mainnet phase is foundational for the Pi Network. It prepares for a smoother move to the Open Mainnet and wider use.
Transition to Open Mainnet
The Pi Network is on a path to widespread use. It has over 60 million users called ‘pioneers’. Of these, 13 million passed the KYC process. As of August 14, 202418, 6 million have moved to the Mainnet. This shift is crucial for the network’s plan and the future value of Pi coin.
User migration to Pi blockchain involves a 14-day wait to get their unlocked funds19. This process keeps the migration orderly and safe. Even with delays, people are eager about the mainnet start19.
By September 14, 2024, the Pi Network’s price could jump by 227.99%, hitting $111.5218. This big increase shows the high hopes investors have. But, the success of this move is vital.
In the last 75 days, 400,000 more users migrated, making it 6.2 million in total20. This is slower than expected. The community is waiting for the whitepaper’s Chapter 3. It will talk about governance and other key topics20.
The Pi Network hit 2,000 days since its launch on March 14, 201919. This milestone helps its story as it heads to Open Mainnet. The launch could be in 2025, maybe announced by the end of 202420.
The move to Open Mainnet is key for Pi Network. After launching, its 200-day SMA might reach $60.7518. These steps are important for Pi’s place in the market. The project’s journey into blockchain and cryptocurrency continues.
| Statistic | Value |
|---|---|
| Current Pi Coin Price | $36.10 |
| Price Increase Over Past Year | 38.51% |
| Total Registered Pioneers | 60 million |
| Completed KYC Process | 13 million |
| Migrated to Mainnet | 6 million |
| Projected Pi Coin Price By September 2024 | $111.52 |
| Expected Open Mainnet Launch | 2025 |
How to Start Mining Pi Coin
Mining Pi cryptocurrency is simple with your mobile device. The Pi Network app makes crypto mining easy for everyone. It breaks down the technical and financial barriers usually seen in mining. Here’s a step-by-step guide to get started with the Pi app and understand how to mine Pi coin.
Setting Up the Pi App
First, download the Pi Network app on your iOS or Android. Make sure your iPhone runs on iOS 9.0 or newer, or your Android is on version 5.0 or later21. Next, set up your account. You’ll have to give some basic info and pass a Know-Your-Customer (KYC) check. Currently, there are over 11 million KYC-verified users on Pi Network22.
After signing up, you can start to mine Pi coins right away. Just hit the “Mine” button once every 24 hours. This action is easy and won’t use a lot of battery or data. You can also invite others to join. By using the referral system, your mining rate can increase as more people sign up through your invite code23.
Mining Process
Pi coin mining is done through a decentralized system. This system uses a special consensus method called SCP (Stellar Consensus Protocol). Unlike the costly setups for traditional mining, Pi Network lets you mine on your phone with the app22.
As you start, you’ll be a Pioneer. You can move up to different ranks like Contributor, Ambassador, and Node. Each rank comes with its own perks and chances to earn more. For instance, mining actively for three days lets you become a Contributor. This rank lets you create a security circle of 3 to 5 trusted contacts, boosting your mining results21. The network also has big plans for growth, like Token launches and moving to a Mainnet21.
Pi makes mining open to anyone with a smartphone. This method is a big change from others like Bitcoin, which need expensive gear and lots of power. Thus, Pi’s way is user-friendly and kind to the environment. This makes it easier for more people to join in2123.
To increase your mining rate, consider becoming an Ambassador by inviting others. Or run a Node by using tools like BlueStacks or NoxPlayer on your PC. These actions help strengthen the network and improve your mining rate21. Also, finishing the Mainnet Checklist is crucial for moving your Pi to the mainnet securely22.
The Pi Network app has simplified joining the crypto world. Mining Pi coin is not only accessible but can also offer future rewards as the network grows.
Pi Cryptocurrency Wallet and Security Features
The Pi Wallet plays a crucial role in the Pi Network’s safety. It has top-notch security features to keep your digital money safe. Using advanced encryption and multi-factor authentication, it shields your assets.
More than 222,099 Pi nodes show how popular the Pi Network app is14. Halving events at 100,000, 1 million, and 10 million users slowed down mining rates14. Moving from Testnet to Mainnet and aiming for the Open Network in 2024 show its growth14. As of 27 August 2024, Pi Network’s market cap was $2,481,057,332 with 68,000,000 PI in circulation14.
The Pi Wallet is known for fast transactions and great security. You get instant updates on your transactions and can see all your transaction history. This focus on security keeps your digital assets safe from threats. Also, the Pi Wallet can handle many transactions, showing its strength and ability to scale.
Risks and Challenges
Pi Network shows promise but faces risks and challenges as it moves toward its mainnet launch. Understanding these issues is key for anyone involved in the crypto world.
Regulatory Concerns
The regulatory environment for cryptocurrencies is still unclear, especially for new projects like Pi Network. Its unique approach and the lack of past market data make it hard to know how regulators will react24. Pi Network must meet international financial rules to gain credibility and market stability.
Market Volatility
Digital assets often face market volatility, and Pi Network is no different. Its coin values may greatly change. Although Pi coins are currently valued at about USD 33-40, they could jump to USD 163.46 by 202525. However, because cryptocurrency trading is speculative, these values might shift quickly, posing a risk to investors.
The fact that Pi coins are not on traditional exchanges increases these risks, since their real value is currently zero25. For those wanting the latest updates on Pi Network and other crypto news, check out the HokaNews Airdrop Telegram channel.
