Pi Coin Price Analysis: September 30 Deadline Could Spark Major Market Move – $100 Per PI Coin Possible?

The Pi Bridge has announced a deadline of September 30 for miners to stake their NFTs, marking the beginning of a new development phase for the project.

In the past 24 hours, the price of Pi Coin has increased by 3%, reaching $32.48, fueled by a recent rate cut from the Federal Reserve that lifted the overall cryptocurrency market. Over the past week, PI has gained 4.5%, reflecting growing interest as the September 30 staking deadline approaches.

Despite a 9% decline over the past month and a 13.5% drop year-on-year, the upcoming transition to a new development phase indicates that the Pi Network is moving closer to launching its mainnet. This shift could lead to a significant price recovery for Pi Coin after a prolonged period of underperformance.

Pi Coin Price Analysis: Could the September 30 Deadline Trigger a Major Price Surge?

A key observation from PI’s trading chart is its sustained movement within a narrow range for several months, suggesting that a substantial price shift could be imminent. The relative strength index (RSI) has been gradually declining for over a week, hinting that a price rebound may be on the horizon. With these factors in play, some analysts speculate that Pi Coin could potentially reach $100 per coin following the mainnet launch.

The situation with PI’s 30-period moving average (orange) is somewhat unclear; it has recently risen to meet the 200-period average (blue) but has also dipped below it in the past few days, casting doubt on the likelihood of a sustained rally in the near term.

Currently, PI is only available on exchanges like HTX, CoinW, XT.Com, and BitMart, and both the coin and its investors are still awaiting the launch of its mainnet. While there’s no definitive timeline for this event, the approaching September 30 deadline for NFT staking does hint that the long-awaited launch might be drawing nearer.

The September 30 deadline specifically pertains to miners using the Pi Bridge app, which acts as a connector between the Pi Network ecosystem and the broader cryptocurrency landscape.

Mining is a fundamental aspect of the Pi Network, which was introduced in 2019 to allow users to engage as miners. Although the mainnet has yet to launch, the Pi team reports that approximately 13 million users have successfully completed the KYC checks required to start mining. This progress indicates a growing readiness within the community as the project moves forward.

Given these developments, PI is definitely one to keep an eye on, especially considering it’s currently 89% below its all-time high of $307 reached in December 2022.

As the broader cryptocurrency market gains momentum from yesterday’s rate cut, Pi Coin could see further price increases in the near term. Predictions suggest that the price might climb to $50 by the end of October, with the potential to hit $100 by year’s end if market conditions remain favorable.