Pi Network (PI) Rises Over 5% Ahead of Mainnet Migration
Pi Network (PI) Update
- Price increased by over 5% in 24 hours to approximately $0.66.
- Trading volume surged by 66% due to the upcoming mainnet migration.
- Over 12 million users completed KYC verification, enabling mining rewards migration.
- The first migration phase includes base mining rewards, Security Circle inputs, lockup commitments, utility app incentives, and confirmed node rewards.
- The second migration phase, including referral bonuses, is expected after the first queue clears.
Tokenomics
- 100 billion tokens minted; only migrated rewards become usable.
- 65% of supply allocated for community mining; 10% for foundation, 5% for liquidity, 20% for Core Team.
- No party can access more tokens until community migration progresses.
- Gradual rollout aims to prevent sudden supply shocks; second migration wave anticipated in late 2025.
Market Analysis
- PI has faced selling pressure, losing 30% value in the past month.
- RSI at 62.82 indicates bullish momentum, but a correction may occur if it becomes overbought.
- A breakout above $0.68 with enough buying volume could target $0.72.
- Bollinger Bands show tightening, with immediate support at $0.6635 and resistance near $0.68.
- Analysts are targeting $1 amid mainnet migration plans.
