Pi Coin price has dropped by 26% in the last month, with this downtrend mirroring the performance of most newly-launched altcoins. However, if the trend reverses today, and PI records a steady increase in retail interest that sparks a 10% growth every month, how long would it take for the token to reach $5? Let’s find out.
Pi Coin price trades at $0.64 today, April 27, with a slight 1.2% decline in 24 hours, while trading volumes have plunged by 19% to $61M per data from CoinMarketCap.
When Will Pi Coin Price Reach $5 With a 10% Monthly Surge?
If Pi Coin price increases by a steady rate of 10% each month starting from today, it would reach $0.71 in the next 30 days. By the end of the year, this altcoin will have surged to $1.39. However, to achieve the $5 price target, it would take Pi Network 22 months or nearly two years. This means that $5 is attainable by February 2027.
While this target is realistic and achievable, growing by a consistent rate of 10% each month is a long shot, considering that crypto assets are highly volatile. However, a rally to $5 is likely to happen as the project is surrounded by a wide range of catalysts that support a bullish Pi Network price forecast.
The first catalyst is exchange listings. As Coingape recently reported, the Pi Network community was recently excited by rumors that HTX will list Pi Coin. This listing might kickstart a flurry of new exchange listings from giants such as Binance and Coinbase, which will bolster demand for the token and spark gains to record highs.
Additionally, Pi Network is one of the sponsors for Consensus 2025, an event that will attract top institutions, including BlackRock. This kind of exposure is also bullish for PI and might kickstart a strong uptrend towards $5.
Pi Coin Technical Analysis as Wedge Pattern Hints at Breakout
Pi Coin price is on the verge of overcoming resistance from a falling wedge pattern on the hourly chart. If this breakout occurs and PI breaks out of this pattern, the closest resistance level stands at $0.706, with a decisive close above it set to kickstart gains towards $0.706, at which point PI will have made a 10% move.
Meanwhile, the Chaikin Money Flow is rising albeit remaining negative, suggesting that the bearish momentum is weakening. This supports the likelihood of a bullish breakout happening soon. However, traders should keep an eye on the RSI line that is forming a bearish divergence and tipping south, an indication that any looming uptrend for Pi Coin will be weak due to a lack of strong buying activity.
While this hourly price chart is showing mixed sentiments towards Pi Coin price, suggesting that volatile moves are still at play, PI can still attain $5 in the next two years. This target is achievable considering the potential exchange listings and adoption. However, gaining by 10% each month remains a long shot due to the unpredictable nature of new tokens.
The post When Will Pi Coin Price Reach $5 If It Grows 10% Each Month? appeared first on CoinGape.