As Pi coin is not yet traded on global exchanges in the open market, only the Pi network users can trade with currency between one another. Pi Network's price remains volatile and is influenced primarily by major players, making predictions challenging.
Having said that, with the massive community support enjoyed by the Pi network across 47 million people in 230 countries, Pi may be well received by investors and the global crypto community after its launch in the open market, which is expected to occur in the second half of 2024 or early 2025.
In anticipation of the launch, the price of Pi coin is expected to enjoy a healthy upswing in 2024-2025. The launch would also indicate that the three pre-conditions put out by the Pi Network team for the launch have been met. These include preparing the Network for the open network launch from a technological, legal, product and business standpoint. Also, the team behind Pi coin aims to embark on the open market launch only when 15 million pioneers have passed KYC, and 10 million Pioneers have migrated to the Mainnet.
It is also noteworthy that the Pi Network has been constantly working on upgrading its network, protocol and outreach. It launched the Fireside Forum Web3 social platform in June 2023 and added a decentralized moderation feature in December. In December 2023, the Pi Network held PiFest, during which users could shop at local Pi-integrated businesses by exchanging Pi Coins. As a test case for what's in store for Pi coin in the future as a form of payment, the event was a grand success, with participants from over 155 countries.
The Pi Coin would likely initiate the transition into the open crypto market by late 2024 or the first half of 2025. Given the limited visibility of price trends at the moment, it would be challenging to make price predictions for Pi coin until it is in the closed Mainnet phase.
Having said that, there is plenty in the pipeline for the Pi Network after its launch. The network has over 20 active projects in development, each with charted-out milestones. These projects include a Pi wallet, P chats, a Pi browser and a Web3 developer platform called Pi Developer. With these projects in the offing, Pi Network is putting its best foot forward to embark on a bullish run soon after its launch.
Another factor influencing the price of the Pi coin is its supply. With a total supply of 100 billion, a large portion of the coin would still be locked when the coin enters its open Mainnet phase. According to the Pi coin whitepaper, the network users will have already mined 10-20 billion at the time of the open Mainnet release. Even if we consider that the Pi coins will launch at its current price of $37.5, this will catapult the coin into one of the top cryptocurrencies by market cap.
That said, speculating or predicting the price of Pi coin currently would be challenging due to its closed Mainnet phase. With 47 million users and massive anticipation for the open Mainnet release, we could see significant price volatility in both directions.
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