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

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

The PI token is among the notable gainers in the last 24 hours and has far surpassed its recent all-time low.

Despite growing criticism and controversies 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 PI buying and make bold price predictions.

“Adding some IP”

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

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

If Captain Faibik’s 500% surge prediction comes true, the token could be on its way to $1. However, that seems unlikely at this time, given the overall market environment and PI’s inability to achieve a longer, deeper recovery.

There’s a big elephant in the room at Pi Network over the next few weeks. PiScan’s token unlock schedule 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. However, unlocks will decrease in March.

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

Pi token unlock schedule. Source: PiScan

The co-founder speaks

The Pi Network core team has faced significant scrutiny the last few weeks. However, this did not stop them from announcing a new series of updates with a deadline of February 15 for Mainnet nodes.

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

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