LUCKNOW (CoinChapter.com) — The Pi Network mainnet launch is not yet scheduled, with some users claiming that the mobile mining platform may release its mainnet roadmap in December 2024. As usual, there is no comment from the platform developers. .
Pi Network’s mainnet launch is making it a unicorn in the non-financial cryptocurrency world.unicorn,’ but it’s a horse with horns on its head and shooting rainbows from behind. Everyone has heard of it, but no one has seen it, and many are skeptical that it even exists.
Has Pi Network delayed its mainnet launch?
Previously, the Pi Network team shared a tentative date of June 2024 for the mainnet launch. However, several users on
Also, an X account with username ‘Pi network updates‘ Project founder Dr. Nicolas Kokkalis shared an update, saying that the mainnet launch is still dependent on three target conditions:
To summarize, on January 3 of this year, the Pi Network team announced to users that they will launch an open mainnet in 2024, but certain conditions apply, such as meeting KYC and migration goals, developing and deploying Pi apps, and no adverse circumstances. . External environmental conditions.
Meanwhile, the team announced the ‘winners’.Pi Commerce Hackathon—’ Maps for Pi and PyNook.
These applications simplify the process of adopting Pi as a payment method by making it easy to discover nearby businesses that accept Pi and providing merchants with a user-friendly storefront. Their emergence reflects a real need within the Pi community.why.
The Pi Network team spoke about the winners.
The event aimed to encourage greater participation in the Pi Network by inviting developers to participate. The hackathon, which ended on March 23, focused on creating a commerce app that helps users find and interact with local businesses that accept PI Coin payments.
PI Coin price soared, but EMA resistance became stronger.
Meanwhile, PI Coin price failed to break the 20-day EMA (red wave) dynamic resistance despite a 17% price surge that pushed the token to a daily high near $44.6. However, profit booking has reduced most of the token profits.
The mainnet launch became a bone of contention among PI Coin users due to the team’s delayed launch. As a result, several users left the platform. Additionally, the mainnet launch could be a double-edged sword as the price of PI coins could plummet once holders start booking profits.
Bulls are likely to attempt to hold the 100-day EMA (blue wave) support near $37.5 as PI Coin price breaching the immediate support could lead to further selling, pushing the token towards support near $30 before recovering.
If the rally continues, the price of the Pi Network token may rally to resistance near $46.2. A reversal of the immediate resistance could help PI Coin price target the resistance near $55.
The relative strength index, which measures asset price movements to determine overbought or oversold conditions, remained neutral at 50.64 on PI’s daily chart.