Pi Network price continues to languish this month. It has remained at $0.60, where it has been stuck for the past three weeks. This price is about 80% below its all-time high, meaning that it has erased over $15 billion in value.
Crypto Analyst Sees Pi Network as the Next Big Thing
Still, one top crypto expert believes that the ongoing Pi Coin price consolidation is the calm before the storm. In an X post, an anonymous analyst known as Dr. Altcoin, who has over 43,000 followers, predicted that Pi will surge over time.
He compared the coin with top cryptocurrencies such as Bitcoin, Ethereum, and Ripple (XRP). In his post, he stated that Bitcoin demonstrated to the world that transitioning from fiat currencies like the US dollar to a digital coin was possible.
The flaw with this view is that Bitcoin (BTC) has not become a viable alternative to the US dollar because of its substantial transaction costs. Instead, it has become a store of value, akin to gold, as it is predominantly used for investment purposes.
The analyst also compared it to Ethereum, a network that introduced the concept of smart contracts. Today, in addition to being a cryptocurrency, Ethereum powers applications in industries like decentralized finance (DeFi) and real-world asset (RWA) tokenization.
Additionally, he compared the Pi Network to XRP, which has convinced banks and other financial institutions of the feasibility of cryptocurrency transactions. Top companies using Ripple Labs are JPMorgan, Santander, and HSBC.
Therefore, he believes that Pi Network will demonstrate that true financial freedom can be inclusive, accessible to everyday smartphone users, and scalable on a global level.
READ MORE: Shiba Inu Price Chart Signals 145% Surge: Short Squeeze Ahead?
Potential Catalysts for Pi Coin Price
He expects, therefore, that the Pi Network price will eventually rebound and gain popularity. In another post, he identified potential catalysts for the rally, including more exchange listings and an upcoming speech by Pi Network’s founder at the Consensus Event in Toronto.
HTX, a top crypto exchange, has been teasing that it will list Pi soon. The exchange signaled this by including Pi in a series of X posts featuring other leading coins such as Bitcoin, Pepe, and Tron. Such a listing would likely push it much higher instantly. Listings on platforms such as Coinbase, Binance, and Upbit could have more significant consequences.
The key risk that Pi Network holders face is that billions of tokens will come online in the coming years. Over 1.5 billion tokens will be unlocked in the next 12 months, with many of the allocations going to the insiders.
READ MORE: XRP Price Prediction: Can Ripple Turn $10k into $1M by 2030?
