Key Insights
- Pi Network price has outperformed top tokens like ETH and BTC.
- The developers invested in CiDi Games this week.
- There are signs that the ecosystem growth is growing this year.
Pi Network price held steady on Thanksgiving Day, rising to the highest level in nearly a month. It has already jumped by nearly 70% from its lowest level this year. So, will the Pi Coin price surge by 300% and hit $1 amid signs of growing ecosystem growth?
Pi Network Price to Benefit From the Ecosystem Growth
There are signs that the Pi Network team is working to solve one of the most important challenges it has had since its mainnet launch in February this year.
The developers are aggressively working to create an ecosystem and turn it from a mere ghost chain into a thriving platform.
For example, the developers launched the Pi AI Studio a few months ago, a platform aimed at incorporating artificial intelligence in application development.
Most recently, the developers launched a major update to the App Studio platform, a move aimed at helping developers build applications for its ecosystem. These developers will be targeting millions of people who are part of the ecosystem.
Pi Network is also working on incorporating decentralized exchanges (DEX) and liquidity providing (LP) in the network. Such a move will introduce DEX platforms similar to Uniswap and PancakeSwap to its platform.
Pi Invested in CiDi Games
Meanwhile, the developers have started to deploy their Pi Network fund. The most recent deployment happened this week when it invested and launched a partnership with CiDi Games, a company building Web3 games.
As part of the partnership and investment, Pi Network Coin will get more utility as it will be incorporated as a payment currency in its network. Also, it will create new opportunities for pioneers to use and engage with Pi Network daily.
The investment is a sign that Pi believes that the network can become a viable gaming platform. Indeed, FruityPi, a game that Pi Network launched, is one of the most active apps in the ecosystem.
The CiDi Games investment came a few weeks after they unveiled the first investment in its fund. They invested in OpenMind, a company building artificial intelligence (AI) and robotics solutions.
As with the CiDi investment, the investment’s goal was to create more utility for the Pi Network coin. In this case, they hope that pioneers will be able to provide their nodes to companies in the AI industry and make money.
Pi Network still has more money as part in its $100 million fund, meaning that it has the capability to invest in more projects to boost its ecosystem.
Additionally, the Pi Network price has more bullish catalysts. For example, the one notable whale has continued accumulating Pi, a sign that he expects a rebound to happen.
The other bullish catalyst is that Pi Network has applied for MICA, which will make it mainstream in Europe. Chances of approval are high since Pi has implemented the KYC on millions of users.
Will the Pi Network Price Hit $1?
The daily timeframe chart reveals that the Pi Coin price has been in a tight range in the past few months. It has formed a double-bottom pattern whose neckline is at $0.29, its highest point in October. A double-bottom is a common bullish reversal sign in technical analysis.
Most importantly, the token has moved to the accumulation phase of the Wyckoff Theory or the Dow Theory. This phase is then followed by the markup stage, which is characterized by parabolic moves. A good example of this pattern is the recent Zcash price surge.
Therefore, the most likely Pi Network price forecast is bullish, with the next target being the neckline at $1. A move above that price will point to more gains to the psychological point at $0.50, which coincides with the 23.6% retracement level.
While a surge to $1 is possible, chances are that it will take a long time, possibly months, to happen.
Crispus is a distinguished Financial Analyst at, bringing over 12 years of expertise in cryptocurrency markets, specializing in Bitcoin and altcoins. Renowned for his sharp insights at the nexus of market trends and breaking news, Crispus delivers actionable analysis to empower investors. His work is prominently featured across leading platforms, including BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com, cementing his reputation as a trusted voice in the financial world.
