Immutable (imx) 
Pi Network IoU Token Price Remains Flat Amid Mainnet Launch Preparations
The Pi Network IoU token price has stabilized at a key support level as developers prepare to launch the mainnet. The Pi Coin is currently trading at the $50 level, significantly lower than its November high near $100.
Mainnet Launch Delay Impacting Price
The main catalyst for the sell-off has been the ongoing delay in the mainnet launch. Initially, the grace period for know-your-customer verification was postponed from November 31 to December 31, and later pushed again to January 31. This delay has caused frustration among investors, leading to a decline in the Pi Coin price.
According to the mainnet launch guidelines, the process can only continue when at least 10 million users have migrated their tokens. As of January 5, over 9 million users had completed the migration, increasing the chances of hitting the 10 million threshold by January 31.
We’re making excellent progress towards Open Network with over 9 million Pioneers who have migrated to Mainnet! If you’re still waiting on either Mainnet migration or KYC, remember to check your Mainnet Checklist and KYC app to see if further actions are necessary.
Mainnet Launch Expectations
If all goes well, the developers expect the mainnet launch to happen in Q1 2025, likely in February or March. The mainnet launch will open the Pi Network ecosystem to a broader audience and allow pioneers to convert their Pi coins into fiat currencies after years of mining.
The mainnet launch will also enable users to test about 80 community-created applications, including:
- Map of Pi, which lists sellers worldwide who accept Pi Coin.
- Pi Game.
- Care for Pi.
- 1pi Mall.
Pi Network’s vision is to create a more accessible cryptocurrency than Bitcoin, with a unique approach that allows Pi to be mined on smartphones, aiming for global business acceptance.
Pi Network Price Analysis
The Pi Coin IoU listed on HTX is not affiliated with the official Pi Network project but is often considered the closest proxy to the real Pi Coin. Historically, its price has risen on mainnet launch hopes and fallen when those hopes fade.
The daily chart shows that Pi Coin’s price has dropped to an important support level at $50, which serves as both a psychological point and the lower side of an ascending trendline connecting the lowest swings since September.
The token is consolidating around the 50-day moving average, suggesting possible accumulation. If this accumulation leads to a breakout, the token could surge to $100 ahead of the mainnet launch. However, a break below the trendline risks pushing the price down to $30, its September low.
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