The Pi Network token maintains significant support despite ongoing mainnet launch delays that continue to impact its price.
Current State of Pi Token and Mainnet Delays
The Pi Coin token price remains at $50, significantly below the November high near $100. The main factor for the price drop is the ongoing delay in the mainnet launch. Initially, developers postponed the KYC verification period from November 31 to December 31, and again to January 31. At that time, over 18 million members completed KYC verification, but only 8 million moved their tokens to the mainnet.
Mainnet Launch Prospects and Expected Changes
According to a statement on January 5, Pi Network developers noted that over 9 million users have migrated their tokens, increasing the chances of reaching the 10 million threshold by January 31. If all goes well, the mainnet launch is expected to happen in Q1 2025, likely in February or March.
Pi Network Price Analysis and Potential Risks
The Pi Network IoU token on the HTX exchange is not affiliated with the official Pi Network project but is considered the closest proxy for the real Pi Coin. Historical data suggests its price raises hopes during mainnet launches and falls when those hopes fade. The chart shows a stabilization at $50, which serves as both a psychological level and the lower side of an ascending trendline since September. Current consolidation around the 50-day moving average may indicate accumulation ahead of a breakout that could potentially drive the price to $100.
The Pi Network mainnet launch presents significant opportunities for the project and its participants, though it also carries the risk of further delays. Successful migration to the mainnet will expand the audience and capabilities of Pi Network.
