Pi coin price prediction: What are the prospects for untraded Pi crypto?
Read on as we explore the history, value, and potential Pi coin price prediction.
The Pi Network is a decentralized crypto mining platform that was developed in 2018 by Stanford University alumni Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. The two realized that there were numerous obstacles to crypto accessibility and adoption and aimed to develop the next era of web seamlessly integrated with blockchain technology. Their solution was Pi Network, which officially launched on March 14, 2019 (Pi Day).
Unlike traditional cryptocurrencies that rely on energy-intensive mining processes, Pi Network allows users to mine Pi coins (PI) directly from their smartphones without draining batteries or consuming significant amounts of electricity. The project gained popularity due to its focus on simplicity and accessibility.
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How does Pi work?
Pi Network has stated that it aims to democratize access to digital currency by making mining available to anyone with a smartphone. Users can mine PI coins through the Pi Network mobile app by tapping a button every 24 hours to confirm their presence.
To sign up on the app, an invitation code by a member of the network is required. Transactions are verified by a group of users known as “nodes”. These nodes are organized into “security circles” in which each user selects a few trusted individuals to vouch for them. This structure aims to prevent fraudulent transactions.
Users’ hourly mining rate is based on when they signed up; the earlier a member joined, the higher the rate. Users can boost their rate by inviting new users or building a security circle.
PI coin value
Pi isn’t currently available on any prominent exchanges or integrated into any blockchain. PI coins can only be earned by downloading the PI Network app and mining the coins, and its uses are limited to buying products and services on Pi’s peer-to-peer marketplaces. Users’ coins are stored in the app and cannot be withdrawn, sold, or exchanged for other cryptocurrencies.
Pi Network aims to transition from a closed to an open mainnet, where Pi coins will eventually be available for public sale. The network has stated that until then, any Pi sales have been unauthorized and have no affiliation with Pi Network.
It could be argued that the Pi coin lacks intrinsic value in its current developmental stage. Nevertheless, cryptocurrency data websites such as CoinMarketCap and CoinGecko provide an exchange rate for the Pi coin, priced at $38 as of June 13, 2024. On both websites, the Pi Network page offers a similar disclaimer:
“Please note that the mainnet has not yet been launched, and the prices shown on certain exchanges are for IOUs that may not be transferable across exchanges. Please DYOR and proceed with caution.”
Pi Network is gearing up for its transition to the Open Network phase of Mainnet in 2024 if three crucial conditions are met. However, the exact date remains uncertain, contingent upon several factors, including the collaborative efforts of “Pioneers,” community developers, and the Core Team, as well as external variables beyond their control. The team emphasizes that while they are working towards this goal, there is no guarantee of its realization.
Given the mining activities of its millions of users through the mobile app, Pi Network’s eventual listing could trigger substantial increases in value; therefore, for certain crypto enthusiasts, PI could possibly hold promise as a long-term investment.
What will be the Pi coin price forecast for 2024-2030?
Pi coin price prediction 2024 and beyond
Short-term Pi outlook: as of June 2024, CoinCodex predicted that Pi could rise 228.05%, reaching $126.94 by July 13, 2024.
In its long-term Pi price prediction, CoinCodex was also optimistic with its high-end estimates for the price at $182.85 for 2025 and $158.18 for 2030.
Pi coin price prediction from the analytics firm Telegaon was even more bullish. Pi coin is experiencing a surge in 2024, potentially reaching new all-time highs. Pi projections suggest an average price of around $176.17 for the year. If things keep going as they are, Pi Network could hit a high of $194.31, but if the market takes a downturn, it might slide to about $141.45. Moving into 2025, there’s a positive vibe, with an average price prediction of $237.22. There’s a chance it could reach $263.16 if growth continues, but in a bearish market, it might drop to $195.26. By 2030, with sustained growth, Pi Network could see an average price of $597.56, potentially peaking at $608.73. Conversely, in a bearish market, it could fall to around $539.88. These Pi expectations account for various market conditions, but bullish rallies could see the coin surpassing all forecasts.
CoinDataFlow saw the Pi coin fluctuating considerably in the years to come, though it ultimately kept an upward trend. Its Pi crypto price prediction for 2024 is that the coin could range between $35.12 and $70.45. In 2025, the site believed Pi could rise considerably to sit between $63.19 and $189.57. It forecasted that in 2030, the price would sit between $52.40 and $176.50.
It’s important to keep in mind that these Pi coin price predictions are based on historical data and, therefore, could be inaccurate. As such, investors should not rely solely on such data but do their own additional research taking into account their investing goals, among other factors.
FAQs
Is Pi coin a good investment?
Pi Network has millions of users and its eventual listing on exchanges could lead to a substantial increase in its coin’s value. Whether or not this makes it a worthwhile investment is something only you can decide by considering your investment goals and existing financial portfolio, among other factors.
Will Pi coin go up or down?
No one can say for sure. As of June, many predictions were bullish on Pi, with Telegaon’s Pi Network price forecast expecting it to average $176.17 in 2024 and rise to $237.22 in 2025. CoinDataFlow’s high-end prediction for PI was between $63.19 and $189.57 in 2025. However, such estimates can be inaccurate and have been wrong in the past. It’s important for investors always to do their own research.
Should I invest in Pi coin?
At the time of writing, Pi Network is still pre-release and not available to be sold or traded by holders. The network has stated that it aims to transition to an open mainnet where PI coins will be available to be traded, but until then, holders can only use them to buy products and services on Pi’s peer-to-peer marketplaces.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
