Pi Coin Surges 35% After Chainlink Partnership

The Pi Network’s native token, Pi Coin, experienced a significant surge of over 35 percent, reaching nearly $0.75. This price increase followed the announcement of a new partnership with Chainlink, which aims to provide real-time data to blockchain applications. Despite this impressive growth, concerns about transparency and ecosystem stability within the Pi Network persist, with a market capitalization of $5.14 billion. Dr. Altcoin, a cryptocurrency analyst, has urged the Pi Core Team to implement robust measures to prevent heavy price dumping, similar to the recent collapse of Mantra (OM).

The Pi Network is currently under scrutiny as its native cryptocurrency, Pi Coin, has risen nearly 30 percent over the past week to $0.7404. The partnership with Chainlink is seen as a step toward enhancing real-time data streams and cross-chain functionality, potentially paving the way for greater adoption in decentralized finance (DeFi). However, the bullish sentiment is tempered by ongoing issues regarding transparency and ecosystem stability within the Pi Network.

Dr. Altcoin has strongly advised the Pi Core Team to implement stringent contingency measures to avoid incidents like the recent one with Mantra (OM), which lost more than 90% of its value in a single day due to allegations of market manipulation and liquidity issues. Several obstacles remain in the path of Pi Coin’s price upswing and ecosystem growth, including community dissent over missed timelines and limited real-world use cases. While Pi miners are holding back due to fears of volatility, analysts anticipate sustained bullish momentum that could push Pi Coin towards the $1 mark in the near future.

The PI/USDT 5M chart shows a range narrowed to a 0.7600 resistance zone, which bounds a firm support level of about 0.7271. The price appears to be stabilizing just under midrange at 0.7458. The last market structure on the Pi Network reveals short-term upheavals, suggesting multiple technical signals indicating attempted momentum reversal. The bullish momentum attempts were indicated by two instances of the Golden Cross on the MACD at 02:30 UTC and another at 16:35 UTC.

Oversold conditions around 13:30 and again at 15:45 UTC would find their RSI well under the 30 mark, in line with short-time price rebounds within those areas. However, these rebounds remained wholly constrained in the range-bound behavior of Pi Coin. The current RSI sits at 57.34, indicating neutral momentum with a small bullish influence, neither overbought nor oversold. Test after test by the Resistance Level of roughly 0.7600 has proved inconclusive, leaving behind a psychological ceiling. Similarly, the Support Level at 0.7271 has held intact, depicting a scenario where buyers come into the market when Pi hits lower boundaries on its journey.

The future of Pi Coin price is filled with both promises and uncertainties. According to analysts' forecasts, Pi Coin could trade anywhere between $10.73 and $143.51 in 2025, with an average price of $31, depending upon exchange listings, liquidity, and adoption. The most bullish scenarios predict that Pi Coin could reach about $350 or even more in the event of a successful launch of the Open Mainnet of Pi Network and the development of key partnerships.

However, serious problems of transparency and delay within the Pi Network pose risks that could threaten investor confidence. Experts strongly believe that there is a need for the Pi Core Team to put in really strong measures to prevent price depreciation on a level similar to Mantra (OM). Further, as Pi Coin becomes popular with developers and users, it will be vital to maintain the stability of the ecosystem during the Open Mainnet transition.