Pi Network Gains Spark Price Predictions as Ethereum Looks Poised for Further Growth
Pi Network's native token has seen significant price swings recently. Over the past month, it rose by 11% and currently trades at $0.095 on CoinGecko. The token has rebounded around 35% from its July historic low.
Industry participants have made various predictions about Pi's future performance. Some believe that if the altcoin rotation reaches Pi Network, the price could surge faster than expected. 'The sleeping giant may not stay asleep forever,' one analyst noted.
There is also speculation about a potential burning mechanism being implemented by the team behind Pi Network, which could positively impact the price. However, others have rejected this development.
Ethereum, on the other hand, has shown strong demand from institutional investors and may see further gains in the coming weeks. The amount of ETH stored on exchanges is at its lowest since 2016, suggesting that investors prefer to hold their coins rather than sell them immediately.