Members of the Pi Network community, referred to as Pioneers, are expressing growing confidence in the potential for a price increase in Pi Coin (PI). 

This sentiment is driven by a series of notable developments, including a high-profile industry event, significant market activity, and technical indicators pointing toward a possible rally.

Will Pi Coin’s (PI) Price Surge? 

After its mainnet launch and record high in late February, Pi Coin’s price has seen a notable decline. In fact, in late March, PI even fell below the $1.0 mark. Moreover, over the past month, the altcoin has declined 30.5%.

At the time of writing, PI was trading at $0.64, marking modest gains of 0.4% over the past day. 

Despite the underwhelming performance, the market watchers believe a rally may be on the horizon. From a technical standpoint, Pi Coin is currently consolidating around the $0.60 price level. Analysts have identified it as a significant accumulation zone. 

“After a long period of consolidation, PI/USDT is showing signs of a potential breakout — and the next target could be over $3.29!” an analyst predicted.

The analyst suggested that the positive momentum extends beyond price. He noted that Pi Network is also gaining traction in its real-world applications, growing community, and developing its ecosystem. This signals that its value and potential are being supported by factors other than just market price.

Despite this, some still remain cautious. Analyst Rananjay Singh highlighted that while the price has held above $0.60, which indicates some stability, there are still key challenges. According to Singh, these include the lack of an open mainnet, no listings on top exchanges, and the absence of real-world use cases.

“Hype can start a run, but only real progress keeps it going. Next few months will show the truth,” he wrote.

Meanwhile, recent market activity supports the optimistic outlook for PI. According to data from PiScan, large holders, or whales, are withdrawing substantially from exchanges.

“342 million PI still in exchanges. In the last 48 hours, over 20 million PI have been withdrawn from exchanges. This signals accumulation,” a user posted.

The trend is often associated with impending price increases due to reduced exchange supply.

Lastly, another key factor contributing to the bullish outlook is the upcoming appearance of Dr. Nicolas Kokkalis, the founder of Pi Network, at Consensus 2025 in May. Kokkalis’ participation is expected to enhance the project’s visibility and credibility, potentially attracting greater interest in Pi Coin.

“With Nicolas Kokkalis sharing the stage at Consensus 2025, Pi Network’s credibility in Web3 is set to soar,” a user claimed.

The confluence of these factors—enhanced visibility from Consensus 2025, significant exchange withdrawals, and promising technical indicators—has positioned Pi Coin for a potential breakout. 

However, it’s also important to consider the potential selling pressure from token unlocks. Thus, the coming weeks will be critical in determining whether these expectations materialize.