Pi coin price debate is getting more and more intense every day. The project has become one of the most hyped crypto projects on social media. Despite a massive community and social media following, many veteran analysts are still skeptical of the Pi Network.
Pi Network value, just like the price of any other coin depends on the demand and supply. However, the total supply of Pi coin is still unknown to the general public. So the real Pi coin price will be only determined once the mainnet is launched. To predict the price of any cryptocurrency, you need o know the total number of coins in circulation and its total supply.
As per the latest Pi Network news, the team has shared the Q1 hackathon winners, which were not previously featured on the project’s social media. The list included Voice of Pi, BBS Chat, Pailot, Pets of Pi, and Explore.
Despite the growing community interest in the project, Pi coin price is still not clear as the project remains in an enclosed mainnet. Consequently, many holders are tired of holding their Pi network coins and are selling them in the peer-to-peer markets for a very small amount of money.
Millions of users are currently mining Pi coin on their mobile phones. Therefore, it is safe to assume there are currently hundreds of millions of coins that have been mined. Due to this reason, the Pi coin price is unlikely to exceed $1, as even this price target will put its market cap close to $1 billion.
As the network is not live yet, the real Pi coins are not in circulation. Thereforem, all the pairs listed on exchanges are nothing just IOUs for Pi. The real price of Pi coin will only be known after the launch of its mainnet. For only then the real coins will start trading on crypto exchanges. In the meantime, I’ll keep sharing my updated price prediction of Pi and other coins on my Twitter where you can follow me.
This post was last modified on Jun 19, 2023, 12:22 BST 12:22