Massive 500% PI Surge Forecast as Pi Network Leadership Sends Key Message

Despite growing criticism and controversy surrounding the project, many Pioneers continue to publicly praise and support the Pi Network Core Team and the ecosystem they have built.

The underlying asset has finally shown notable signs of recovery, prompting a prominent analyst to hint at buying PI and making bold price predictions.

“Adding Some PI”

Captain Faibik, a renowned cryptocurrency analyst with well over 100,000 followers on X, made a rare call on Pi Network’s native token. In a recent tweet, Faibik outlined their 500% surge expectation for PI after explaining that they had added some of the token for the midterm.

PI has performed rather well in the past day, jumping by 10% to over $0.16. This means the asset is now 23% higher than its all-time low of $0.1312, set on February 11. Despite this daily increase, PI remains deep in the red on almost all other scales, down nearly 95% from its all-time low recorded last February.

If Captain Faibik’s 500% surge prediction is to come true, the token could be on its way to $1. However, that seems unlikely at the moment, given the overall market environment and PI’s inability to stage a longer, more profound recovery.

There’s a big elephant in the Pi Network room for the next few weeks. The token unlock schedule from PiScan indicates that, on average, more than 7.2 million PI will be released daily over the next month, but the number will frequently exceed 13.5 million by February 25. The unlocks will ease in March, though.

These large unlocking events are viewed as bearish, as they can increase immediate selling pressure from investors who have been waiting for their tokens for a long time.

Co-Founder Speaks Out

Pi Network’s Core Team has faced significant scrutiny over the past several weeks. However, this didn’t stop them from announcing a new series of upgrades with a February 15 deadline for Mainnet nodes.

One of the project’s co-founders, Dr. Nocolas Kokkalis, also issued the same reminder to his over 120,000 followers on X, claiming that the PI nodes are the “4th role in the PI ecosystem.” He urged users to run the PI node on their laptop or desktop to validate transactions, strengthen network security, and support global consensus and trust.

The post Massive 500% PI Surge Forecast as Pi Network Leadership Sends Key Message appeared first on CryptoPotato.