Pi Network (PI) Predicted to Hit New Peak Of $5.26: Here’s When

Pi Network (PI) experienced a sudden rise in popularity and price over the last few months. The asset briefly climbed into the top 15 cryptocurrencies by market cap. PI hit an all-time high of $2.99 on Feb. 26. The coin’s price has dropped by 61.5% from its peak. The project has also slipped to the 21st position among the highest market cap list.

Pi Network Bleeds While Market Recovers

The cryptocurrency market is showing signs of a recovery from last week’s dip. Bitcoin (BTC) fell to the $77,000 price level on Mar. 11. BTC has since recovered the $83,000 price point. Other assets follow BTC’s recovery trajectory.

While the market is showing signs of a recovery, Pi Network (PI) is facing a substantial price correction. The coin’s price is red across the board. PI has fallen by 0.4% in the daily charts, 22.2% in the weekly charts, and 37.3% in the 14-day charts.

PI’s correction could be due to investors booking profits after it hit an all-time high last month. The coin does not have much real-world utility. Investors may not have had much reason to continue holding.

New All-Time High For The Cryptocurrency

While Pi Network (PI) has faced a substantial correction, the asset is predicted to hit a new all-time high soon.

According to CoinCodex, PI could surge to $5.26 on Apr. 25. PI’s price will rally by 353.45% if it hits the $5.26 target.

There is also a possibility that PI will not hit a new all-time high as predicted. The asset could continue slumping over the coming weeks. The market has not fully recovered and macroeconomic factors present considerable challenges.