Pi Coin Surges 80% on Mainnet Launch, Whales Withdraw $27M

The Open Network phase of
Network commenced on February 20, 2025, marking a significant milestone after years of anticipation. This transition represents the culmination of extensive development and community engagement. With this launch, users can now connect Pi with public systems that support everyday transactions and application needs. The network's potential for broader acceptance is evident, as over 18 million users have completed the Know Your Customer (KYC) verification process, and the mainnet has attracted more than 8 million users.The mainnet launch announcement had an immediate impact on the
price. On its first day, the coin gained 80% of its value from its initial price, reaching a peak of $92 and settling at $80.91. This surge in price was accompanied by a rise in trader sentiment, fueled by public announcements from exchanges OKX and Bitget, which plan to add Pi for spot trading.Substantial investor activity and price fluctuations followed the launch. Large holders, known as whales, conducted an exchange withdrawal of 41 million Pi Coins, valued at approximately $27 million, over 48 hours. This movement indicates that investors are confident in Pi's future value increase and see the project as having strong long-term potential.
Market analysts have projected optimistic future price targets for Pi Coin. According to analysts' forecasts, the currency could reach $5 due to market positivity and robust support levels. However, for these predictions to materialize, several conditions must be
, primarily involving the successful integration of decentralized applications (dApps) and widespread market acceptance.The mainnet launch is a significant achievement for Pi Network, but the project now faces multiple challenges. To sustain growth, the network must attract developers, comply with regulatory standards, and foster an active ecosystem. The volatile nature of the cryptocurrency market also requires cautious optimism among investors.
Currently, the Pi Coin price has established a strong support level at $0.64, aligning with the 50-day moving average. This suggests some bullish prospects, as the bulls attempt a rally toward $1. If the support level at $0.64 holds, Pi Coin price could target the next key resistance at $0.69, which coincides with the 200-day moving average. A breach above this level could open the door for further uptrend, potentially toward $0.76, $0.78, and $0.79.
Technical indicators for Pi Network suggest a potential upside. The Relative Strength Index sits at 54.80, above the mean level, indicating that the bulls are building strength. Increased buying appetite could drive a rally toward the upside. Moreover, there is still room for the upside before Pi Coin is considered overbought.
Investor confidence in Pi Coin potentially hitting $1 is evident, as Pi Network has seen a 5% surge in the past week. Additionally, a checkpoint exists within the ecosystem as preparations for the Consensus 2025 summit in Toronto are underway. The team recently approved the Fruity Pi decentralized application, bearing a purple check mark, according to Dr Altcoin.
As the Pi Core Team continues to build the ecosystem, the Pi Coin price indicates a potential surge in the coming days. Traders and investors should cautiously monitor key support and resistance levels to determine the future direction of Pi Network.

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