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

The Pi Coin price has risen by 3% in the past 24 hours, reaching $32.48 after the Federal Reserve’s rate cut yesterday sent the cryptocurrency market higher.

PI is now also up by 4.5% in the past week, with its moves also coming as the September 30 deadline for staking NFTs on the Pi Bridge application approaches.

While PI remains down by 9% in a month and by 13.5% in a year, the upcoming transition to a new development phase suggests that the Pi Network is getting closer to launching its mainnet.

And when this happens, we could see the Pi Coin price overcompensate for a year of underperformance.

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

Probably the key feature of PI’s chart is that the coin has been trading within a very narrow band for months now, raising the possibility of a big move.

Its relative strength index (purple) has been declining intermittently for over a week now, which also means that the coin’s price should recover soon.

More ambiguous is PI’s 30-period moving average (orange), which has just risen to the 200-period average (blue), but which has also fallen below the latter in recent days, undermining any claim that a sustained rally is coming soon.

It’s worth remembering that PI is listed only on HTX, CoinW, XT.Com and BitMart, with the coin – and investors – still waiting for its mainnet to go live.

There’s no clear indication of when exactly this will happen, but the aforementioned September 30 deadline for NFT staking at least suggests that the unknown date is getting closer.

🚨 ANNOUNCEMENT: CLOSING TIME FOR MINER NFT DEPOSITS 🚨

⏳ The NFT Pool is now officially open on the PiBridge App!

⚠️ PiBridge will soon close the Miner NFT deposit gateway to transition to the next development phase. Don’t miss the chance to deposit your Miner NFT and stake… pic.twitter.com/BbkAwldVZ6

— PiBridge (@PiBridgeOrg) September 16, 2024

The deadline is for miners on the Pi Bridge app, which serves as an intermediary between the Pi Network ecosystem and the wider crypto ecosystem.

Mining is a key component of the Pi Network, which launched in 2019 as a platform that enables all users to participate as miners.

And while its mainnet hasn’t yet launched, Pi’s team states that around 13 million users have passed the KYC checks necessary to begin mining.

The network has reached over 13 million Pioneers who have passed KYC and over 6 million Pioneers who have migrated to Mainnet! Through our collective efforts, we’re progressing towards the Open Network goals. Keep in mind that the progress is not linear and has been accelerating… pic.twitter.com/fXad6mpe59

— Pi Network (@PiCoreTeam) August 8, 2024

As such, PI could certainly be one to watch for the future, especially when it remains 89% down on its all-time high of $307 (set in December 2022).

It could continue rising in the near term along with the wider market, which has taken strength from yesterday’s rate cut.

The Pi Coin price could therefore reach $50 by the end of October, and $100 by the end of the year.

New High-Potential Altcoin Close to Launching

Because it may be frustrating waiting for the Pi Network to fully launch, many traders may be better off investing in alternative alts.

This includes recently launched small-cap coins and presale tokens, which are known to surge as and when they list on trading platforms.

A prime candidate for doing this soon is Pepe Unlimited (PEPU), a new meme token and layer-two platform for Ethereum that has raised over $13.8 million in its ongoing sale.

Pepe Unchained has done so well because of its solid fundamentals, with its L2 network promising transaction speeds 100x faster than Ethereum’s.

We're making rapid progress on the $PEPU token raise and Layer 2 Mainnet launch!

The Pepe Unchained developers have built something special, and we can’t wait to roll it out to the public. pic.twitter.com/NMDQ1ZRnmN

— Pepe Unchained (@pepe_unchained) September 18, 2024

It will also provide competitively cheap fees, making it a likely rival to existing layer-two platforms such as Polygon and Arbitrum.

Also bullish is the fact that it will focus on becoming an ecosystem for meme coins, a strategy which has worked very well for Solana this year.

Its native token PEPU will have a max supply of 8 billion, with 30% of this going towards staking and 20% to its sale.

And as a meme token, it’s also bullish that Pepe Unchained has developed a sizeable community, with its X account now reaching over 16,500 followers.

Investors can join this presale by going to the official Pepe Unchained website, where they can buy PEPU at a price of $0.00981 per token.

This will rise a few more times before the sale ends, at which point PEPU will list and potentially moon.

Buy PEPU Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.