The Pi Network IoU token has seen a significant rise to $46.93, fueled by speculation of the upcoming mainnet launch.
Pi Network Token Rises to New Resistance
The Pi Network IoU token hit $46.93 on October 7, its highest since July. It followed a strong upward trend, forming a bullish double-bottom pattern at $29.34. The token is now eyeing key resistance levels, pointing toward potential gains.
Developers Prioritize Mainnet Launch with Market Timing
Pi’s developers are strategically timing the mainnet launch based on the broader cryptocurrency market. They plan to introduce a robust ecosystem of applications to drive utility for Pi Coin. This approach could prevent a price crash, similar to other tap-to-earn tokens.
KYC Critical for Pi Network Migration
Pi pioneers must complete KYC verification before December 31 to ensure seamless migration to the open mainnet. This will allow Pi holders to convert their tokens into fiat currency and engage non-pioneers within the ecosystem.
Key Partnerships and Global Outreach
Pi Network is also fostering partnerships in the crypto space to strengthen its ecosystem. With over 60 million members, companies joining the network gain access to a vast user base. The development team is expanding its global influencer program to reach wider audiences.
Pi Coin Faces Post-Launch Risks
While the token’s current rise offers promise, it faces risks. Many tap-to-earn tokens like Hamster Kombat and DOGS saw massive declines post-launch. Developers remain focused on ensuring Pi’s stability by building a solid foundation before its debut.
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