The Pi Network, renowned for its blockchain technology, recently unveiled its new Mainnet Migration Roadmap to transition users to its main network. This plan outlines a three-phase process, prioritizing KYC-verified users, extending mining rewards, and incorporating referral bonuses. Despite the structured approach, the lack of specific timelines has frustrated many community members.
Pi Coin experienced a brief 4% price increase following the roadmap announcement but stabilized at around $0.63-$0.65. Although it has lost over 45% of its value this past month, it remains supported around $0.60. Market analysts suggest a successful breakout above $0.66 could lead to higher targets, while failure could see a pullback to $0.54 or $0.40. Optimists believe Pi Coin could reach $5 if Pi Network continues to deliver on its roadmap and expands its use cases.
Currently, the unlocking of 5.6 million Pi tokens is drawing considerable attention as it may affect Pi Coin’s liquidity and price trajectory. Amidst concerns about migration clarity and transparency, particularly regarding partial and incomplete transfers, the community remains watchful.
The upcoming Consensus event is generating excitement, with Pi Network’s founder, Nicolas Kokkalis, speaking alongside notable figures like Eric Trump and Robert Hines, potentially boosting the network’s credibility. Analyst Dr. Altcoin emphasizes the importance of expedited KYB approvals and rapid DApp launches.
Pi Network has also clarified its tokenomics, capping the total supply at 100 billion, distributed among community mining rewards, foundation reserves, liquidity, and the Core Team. However, dissatisfaction remains due to the absence of updated figures on migrated tokens and users. The “Transferable Balance” feature in the Pi app has also been a contentious issue.
Overall, the Pi Network community is experiencing a mix of anticipation and concern regarding the migration process, token unlocks, and future industry events. The coming weeks, shaped by practical executions and market responses, are vital for Pi Network’s trajectory. The network’s actions and market behavior will be closely monitored by stakeholders.
