Pi Network (PI) Coin Price Prediction as Pi Fest Ends and Mainnet Launch Nears

Pi Network IoU token has held steady in the past few days as the Pi Fest got underway and as traders waited for the mainnet launch.

The Pi Network IoU (IOU) token price rose to a high of $52.18 on Tuesday, its highest level since October 5. This surge follows the conclusion of the Pi Fest and as traders await the mainnet launch.

As of press time, the IoU token was trading at $48.92, which is about 78% higher than its lowest point this year. It also outperformed other IoUs, such as Aptos (APT) and Dogeliens (DOGE).

Pi Network IoU token price soared. Source: CoinMarketCap

The Pi Network IoU token, which is distinct from the Pi Coin (PI), soared on Tuesday as the Pi Fest, a celebration of the Pi Network's local commerce utility, concluded on November 5.

According to the Pi Network's official Twitter page, PiFest is an event where users can highlight Pi's local commerce utility by taking a picture of a local business that accepts Pi Network and sharing it on both social media and the Fireside Forum.

This year's Pi Fest has seen a lot of participation and enthusiasm! From October 29 to November 5, PiPioneers and merchants are encouraged to continue using Pi to boost the utility of local Pi commerce. Visit https://t.co/QqZhPhOpIS for more details.

PiFest 2024 kicks off today!

PiPioneers and merchants, let's continue shopping with Pi and boosting the utility of local Pi commerce!

PiFest runs from Oct 29 to Nov 5 — Pioneers should take a picture of any local business that accepts Pi Network and share it on both social media and on Fireside Forum.

This year, let's show the world the power of Pi! Together, we can make a difference and highlight the incredible utility of Pi in the real world. Let's get started!

This event aims to showcase the use of the Pi token in the real world and to encourage its adoption by merchants and consumers alike.

The Pi Network is a crypto project that was launched in 2019. It is unique in that it allows users to mine the Pi Coin on their mobile phones without the need for specialized hardware or electricity consumption.

The project has attracted millions of users worldwide, making it one of the largest crypto communities. However, it is important to note that the Pi Coin is not yet listed on any exchanges and cannot be traded or sold.

The IoU tokens, on the other hand, are derivatives that track the price of the Pi Coin. They are issued by exchanges or other platforms and can be used for trading or speculation.

The price of the Pi Network IoU token is expected to continue rising in the coming months as developers work on the transition to the mainnet launch.

The developers hope that the launch from the enclosed mainnet to the real mainnet will enable users to convert their coins into fiat currencies. They have maintained their stance that the mainnet launch will occur this year.

With the year coming to a close, the launch is expected to take place either later this month or in November.

The developers have stated that they will only proceed from the enclosed mainnet to the full mainnet if three conditions are met.

Firstly, they aim to ensure that the majority of pioneers have completed their KYC (Know Your Customer) verification. Secondly, they hope to have at least one hundred mainnet-ready applications within the ecosystem.

Lastly, they hope that the market conditions will be favorable for the coin. In most cases, developers prefer to airdrop the token when other cryptocurrencies are surging.

The Pi Network IoU token is not affiliated with the real Pi project.

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