Can Pi Coin Price Hit $5 Ahead of Pi2Day This Week?

Key Insights:

• Exchange wallets now hold 363M PI, led by Gate.io with 169M and Bitget with 123M.
• Analyst forecasts Pi coin price may reach $5 before June 28 if mainnet transparency improves.
• Pi2Day and growing CEX inflows fuel speculation of a major price move this week.

Pi coin price rebounded to $0.72 as interest rose ahead of the Pi2Day event. Centralized exchanges held over 363 million PI tokens, signaling strong accumulation. Analysts said a rally to $5 remained possible if the Pi Network clarified its mainnet activation timeline.

Pi Coin Value Gained Momentum as Exchanges Accumulated Supply

Pi coin gained renewed traction after centralized exchanges surpassed 363 million PI tokens, according to the latest Piscan data. Net inflows across major platforms signaled growing expectations for Pi2Day and a possible mainnet announcement.

Gate.io led with 169,059,639 PI, followed by Bitget with 123,020,969 PI, and OKX holding 31,681,198 PI. The three exchanges alone have taken control of more than 88% of the monitored circulating exchange supply. Gate.io registered the largest net inflow over the past 24 hours with +1.5 million PI, while OKX and MEXC also saw strong positive flows.

Bitget, despite holding the second-largest supply, recorded a slight net outflow of 29,509 PI, possibly linked to early speculative trades. Meanwhile, MEXC holds 39,038,736 PI, and both Pionex wallets combined hold just over 103,000 PI, with moderate daily inflows.

These growing balances are hinting at the market being more ready to trade with investors positioning in anticipation of any actual mainnet update. The total of 363,025,779 PI across six exchanges marks the highest CEX concentration for Pi to date.

Anticipation Builds Ahead of Pi2Day and Mainnet Update

The speculation keeps ramping up, and Pi Network members are waiting on the official Pi2Day announcement. Pi coin network recently dropped a signal that mainnet nodes will soon be activated, and that it would share progress during Pi2Day.

The post stated,

Such a rise in anticipation has come along with inflows of massive PI into trading platforms, which puts traders on alert to post-mainnet activity. Although the PI tokens that have been listed on exchanges still stay as an IOU, the increase in liquidity indicates that exchanges can soon provide direct trading on the mainnet.

This sentiment has been captured in the Pi coin price, which dropped to a low of $0.40 on June 13 but rose to $0.72 on June 23, based on data tracked by analysts. Its recent rally is an indicator of the +80% recovery, which is pushed by the new euphoria within the community.

Analyst Predicts $5 Pi Coin Price by End of June

Analyst Dr Altcoin has doubled down on his bold prediction that the Pi coin price could hit $5 before June 28. In a recent entry, he pointed out that previous estimates, such as the lowering to $0.40, came true exactly, and now he feels that the trend might be changing.

A screenshot from his Pi price tracker confirmed the rebound to $0.7246, with a slight daily uptick of 0.95%.

Dr Altcoin emphasized that Pi’s future pricing depends on transparency from the Pi Core Team and activation of open mainnet functions. He added:

This comment is indicative of existing fears over concentrated power and slow access to blockchain. However, the spike in centralized exchange holdings suggests that despite transparency concerns, speculative interest remains high.

The $5 prediction has gained traction within the community, especially as more users prepare for potential price discovery events after Pi2Day. This would translate to an increase of 590% in the case it is confirmed at the current prices.

GCV and Community Expectations Fuel Debate

Although the technical projections and charts expect a rally in the short term, the community members keep on pushing a very different valuation model, which is drastic. Pi coin network News recently tweeted a symbolic price of $3. 14159 per PI, dubbed the Global Consensus Value (GCV), a reference to Pi’s mathematical heritage.

The GCV, as a non-trading value-based measure, has been a source of controversy within society. The advocates believe that Pi has to be priced in terms of long-term value and a community-driven ecosystem. Critics consider it impractical unless utility is demonstrated, as is network access.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.