Pi Network Coin plunged 65% minutes after its launch on Thursday causing millions in losses to investors. However, the token rebounded in the charts and surged more than 100% during the weekend doubling investor’s money in a short period. It had fallen to a low of $0.65 and is now hovering at the $1.61 mark in the indices. It surged close to $1 during the weekend in a remarkable turn of events.
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Traders who held on to their positions without fearing the crash and jumping ship are now sitting in massive profits. Their portfolios have more than doubled in less than a week and Pi Coin is now among the top-performing assets in the broader cryptocurrency market. If you had invested $1,000 on its launch day on February 20, it would have turned into $2,650 on Monday.
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How High Can Pi Coin Reach?
Leading on-chain metrics and price prediction firm CoinCodex has painted a bullish picture for Pi Coin. According to the price prediction, the new token could surge by another 20% to 25% in the indices by the end of February. The forecast estimates that Pi Coin could breach the $2 level next month and hit a new high of $2.20 during mid-March 2025.
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That’s an uptick and return on investment (ROI) of approximately 40% from its currency price of $0.65. Therefore, an investment of $1,000 in Pi Network Coin could turn into $1,400 in mid-March if the forecast turns out to be accurate.
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However, the cryptocurrency market moves in tandem with the stock markets and a downturn could pull prices of leading altcoins down. The US stock market experienced a crash on Friday with Dow Jones plummeting nearly 750 points. The broader Asian stock markets also remain in the red on Monday with little to no price spurts. The developments could affect Pi Coin in the coming days and it is advised to be cautious before taking an entry position.