Pi Network Coin, a new cryptocurrency that recently launched, experienced a rollercoaster ride in its early days, causing both panic and excitement among investors. The coin plunged 65% just minutes after its launch on Thursday, leading to significant losses for many. However, in a surprising turn of events, the token rebounded in the charts and surged more than 100% over the weekend, doubling investors’ money in a short period.
The coin, which had fallen to a low of $0.65, is now hovering around the $1.61 mark in the indices. It even surged close to $1 during the weekend, making it one of the top-performing assets in the broader cryptocurrency market. Traders who held onto their positions without succumbing to fear during the crash are now sitting on massive profits, with their portfolios more than doubling in less than a week.
If someone had invested $1,000 on the coin’s launch day on February 20, it would have turned into $2,650 by Monday. This remarkable growth has caught the attention of many in the cryptocurrency community, with some wondering how high Pi Coin can reach in the future.
According to leading on-chain metrics and price prediction firm CoinCodex, Pi Coin could surge by another 20% to 25% in the indices by the end of February. The forecast suggests that the coin could breach the $2 level next month and hit a new high of $2.20 during mid-March 2025. This would represent a return on investment of approximately 40% from its initial price of $0.65, potentially turning a $1,000 investment into $1,400 in mid-March.
However, it is important to note that the cryptocurrency market is closely tied to the stock markets, and a downturn in the latter could pull prices of leading altcoins down. The recent crash in the US stock market, with the Dow Jones plummeting nearly 750 points, and the red trend in Asian stock markets on Monday could potentially impact Pi Coin in the coming days. Investors are advised to exercise caution before taking any entry positions in the volatile market.
Overall, the journey of Pi Network Coin has been a wild one, with dramatic price swings and potential for significant profits. As the cryptocurrency market continues to evolve, it will be interesting to see how Pi Coin fares in the coming weeks and months.