Pi Coin Price Prediction As 2 Key Upgrades Fuel 2.8M Exchange Outflows- Is It Finally Time for Bull Rally?

Pi Coin price recorded an all-time low of $0.335 earlier this week. Since then, it has gained nearly 10% to trade at $0.3665 today, August 8. A bullish pattern now hints that the recovery is still in the early stages, and a 40% rally may be imminent.

Pi Coin Price Targets 40% Rally as Market Interest Surges

At press time, Pi Coin was up by 3.2% in 24 hours. Behind these gains is high market interest. This is considering that trading volumes had also soared by 52% to $76 million per CoinMarketCap data.

Traders now seem to be getting ready for the next leg up. That follows the creation of a double-bottom, also known as a W pattern. The price of Pi Coin created this pattern when it held on to the support of $0.336. When this bottom was established, bulls started to step in. This ended up confirming the firm support, with the focus turning to the resistance at $0.3773.

If the price can move above this resistance, the formation of this double bottom will be complete. At this point, a 40% surge might be in the cards for the Pi Coin price, pushing it to $0.53. Two things make it more likely that Pi Coin will get to this target: the RSI and the 50-day SMA.

The RSI has moved above 50, which shows that the momentum is favoring bullish traders. At the same time, after the recovery from the bottom support, the price is trying to go above the 50-day SMA. Whenever the price does this, a rally follows. This happened in June and several times in July.

Therefore, this short-term forecast shows that Pi Coin is headed for gains. The Pi Network price forecast 2025 shows what to expect in the long term.

Key Upgrades Fuel Exchange Outflows

The Pi Coin price rally will not happen independently. Instead, the upgrades happening around the PI ecosystem might be bullish. One of these is the upcoming Stellar upgrade that may boost Pi Network’s value.

The reason for this is that Stellar shares its infrastructure with Pi Network. This means that when the upgrade goes live, Pi Coin will benefit as a result, and the price might rally.

CoinGape also reported that Pi Network is strengthening its KYB processes. What this will do is to make it easier for people to use the Pi Coin token. When utility increases, this token gains legitimacy, meaning that the price might move higher.

Because of these two upgrades, Pi Coins are moving out of exchanges. Piscan data shows that in the last 24 hours, exchange outflows came in at 2.8 million. Nevertheless, there is still a significant number of people moving their coins to exchanges. Hence, getting to $0.53 will only happen if buyers can become more than sellers.

To sum up, Pi Coin price is showing early signs of gaining. Getting to $0.53 might be made possible with the upgrades happening on the network. However, gaining will largely depend on the activity of buyers.