Top Analyst Explains Why Pi Network Price May Soar to $0.50 This Week

Pi Network price continued to grind today. It jumped by nearly 3% on March 9, erasing some of the losses made on Sunday when it crashed by 5%. It has soared by 70% from its all-time low, and a top analyst believes that it can surge to $0.50 soon.

Expert Predicts Pi Network Price Hitting $0.50 

In an X post, Dr. Altcoin, a popular crypto analyst, predicted that the Pi Coin price may surge to $0.50 this week. With the token trading at $0.2176, a move to that target would be a 130% surge from the current level. It would push it to hit its highest point since July last year.

The analysts identified four main catalysts that may drive it to that target later this week. A key one is that Pi Day is coming soon on Saturday this week. In most cases, there is usually substantial speculation among investors and traders ahead of that date.

This speculation normally happens because the team often makes major announcements during that day. In some instances, Pi Day is when the team shares plans for the year ahead and some of the key priority areas.

This event comes nearly a month after it celebrated the first mainnet anniversary, in which Nikolas Kokkalis and Chengdiao Fan, the founders, shared some of the areas of priority, including investments in artificial intelligence, accelerating the KYC processes, and even future plans of launching a KYC-as-Service solution.

Dr. Altcoin also expects the Pi Network price to surge because of the ongoing price momentum, which started in February and has seen it outperform other popular tokens like Bitcoin and Ethereum.

Additionally, he sees more trading activity as a major catalyst. Indeed, data compiled by CoinGecko and CoinMarketCap shows the daily volume has been rising recently. It has jumped from below $10 million a month ago to over $400 million today.

Most notably, the analyst sees a potential Kraken listing as a key catalyst that will push it not only to $0.50 but to $0.75. Kraken has hinted that it will list it this year, and Pi Day may be a good period to do it.

Pi Coin Price Prediction: Technical Analysis 

Technical analysis suggests that the Pi Coin price has more upside to go in the near term. A major catalyst is that it has already moved above the 100-day Exponential Moving Average (EMA). It also flipped the Supertrend indicator from red to green for the first time in months.

The coin has also jumped above the crucial resistance level at $0.2146, its highest swing in January this year. The Percentage Price Oscillator (PPO) has jumped above the zero line and is pointing upwards.

Therefore, the coin will likely continue rising in the coming weeks as investors embrace the Fear of Missing Out (FOMO). The next target price will be at $0.30, the highest swing in October last year. A move above that level will point to more gains to $0.50.