After several weeks of sluggish trading, Pi has made a strong comeback with a breakout surge of over 50% in the past week. The token’s price has jumped above $0.75 and is currently trading around $0.74, making Pi one of the best-performing altcoins among large-cap cryptocurrencies.
The market is showing strong bullish signals, with many analysts predicting that Pi could reach $1 if the current momentum continues.
Adding to the wave of optimism, Pi Network recently announced the launch of the Pi Ad Network – an advertising platform that enables developers to monetize their applications and encourages real-world usage of Pi in everyday transactions. This move is seen as a significant step toward building a more practical and robust ecosystem for the project.
Related: Pi Network Remains Optimistic Despite Steep Price Decline
However, despite these positive developments, Pi Network still faces several major challenges:
- According to data from PiScan, nearly 200 million PI tokens are expected to be unlocked within the next 30 days, which could create significant selling pressure on the market.
- Even hough 87% of the community supports a listing on Binance, the world’s largest exchange has yet to take any concrete action to support Pi.
- Notably, despite the rollout of new features on the Pi Network, trading volume has dropped by 44%, reflecting mixed investor sentiment about the project’s long-term prospects.
While Pi is currently enjoying an impressive recovery, these factors suggest that its upward momentum should be monitored closely in the near term.
