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Pi Network Price Gains Amid Token Unlock News, Eyes $3 Milestone
The Pi Network has seen a significant surge in its price amid news surrounding token unlocks, with experts predicting the potential for a rally to $3 by June. The cryptocurrency’s recent growth stems from the anticipation of its mainnet launch and listing on key exchanges like Binance.
Pi Network’s native cryptocurrency, Pi Coin, has faced major volatility recently due to the delay in the mainnet launch and the lack of visibility surrounding the exchange listings. However, as token unlocks approach, investors are reassessing their positions and driving the asset higher.
The data suggests that approximately 160.74 million Pi tokens, worth an estimated $93.77 million at the current price, will be unlocked over the next 30 days. While this significant influx of tokens may pose risks for the market, analysts argue that token burns are necessary to mitigate the impact and maintain a stable token supply.
Riding on the wave of positive sentiments, renowned analyst MOON JEFF forecasts Pi Coin reaching $3 by June. According to his analysis, the cryptocurrency’s long-term potential remains strong due to its innovative approach in incentivizing participation through rewards. This unique concept has led many investors to re-evaluate their positions and contribute to the asset’s recent growth.
The predictions from MOON JEFF do not solely rely on short-term market fluctuations but are backed by his analysis of Pi Network’s long-term potential. He believes that once trade tensions subside, the cryptocurrency will break key resistance levels and continue its upward trend.
In light of this news, investors should conduct their own research and consult with financial advisors before making any investment decisions.
Source: https://www.crypto-news-flash.com/pi-network-price-gains-amid-token-unlock-news-eyes-3-milestone/?utm_source=rss&utm_medium=rss&utm_campaign=pi-network-price-gains-amid-token-unlock-news-eyes-3-milestone
