Here’s why the Pi Network price will have big moves this week | by Ivan Ip | The Capital | Jan, 2025

This week could be huge for Pi Network’s price as the KYC (Know Your Customer) grace period wraps up.

Here’s what I think is going on and why it matters:

The Pi Network’s KYC deadline is January 31, and many pioneers are eager for this to finally happen after two previous extensions.

Out of 13 million verified pioneers, only 8 million have transferred their coins to the mainnet so far.

The goal is to hit at least 10 million transfers before the deadline ends.

KYC is a big deal because it’s one of three major steps needed for the mainnet to launch.

The other two are having 100 mainnet-ready apps (currently, there are 80) and meeting external environmental conditions, which the developers say are already done.

If the mainnet launch is confirmed this quarter, I think the Pi coin price could explode.

This launch would allow pioneers who’ve been mining Pi for over six years to finally sell their coins for fiat.

Right now, the price is sitting at $43.22, just above a key support level at $38.

This support forms a double-bottom pattern, which is usually a sign that a big reversal might happen.

If we see a breakout, the price could shoot up by over 110%, similar to what happened last October when it jumped from $37 to $100.

On the flip side, if there’s another delay, I think we could see the price drop sharply, possibly to $30, which was the low in September.

This week’s developments are definitely worth watching closely — big moves seem almost inevitable!