As the broader crypto market continued to rally, Pi coin value soared nearly 7%, past the $0.40 mark.
It has been gaining traction among traders, with many anticipating the rally to continue ahead.
However, despite the surge, it is still below its monthly high of $0.5193 and its all-time high of $2.98 recorded in February.
Notably, Pi Network went through a turbulent path since its mainnet launch, losing around 80% since February.
Despite that, market pundits remain optimistic over the potential future movements of the coin, hinting at a bullish run ahead.
However, many have called the Pi Network a failed project, citing the declining value of the asset.
Amid this, a renowned Pi Community enthusiast highlighted reasons why Pi Network is not a failed project, as many claimed.
Besides, he also revealed how much PI he wishes to hold for the next five years, indicating his confidence in Pi Coin value’s long-term potential.
Why Pi Network is Not a Failed Project?
Pi Network faced immense criticism from a flurry of market participants, with many calling it a “scam” project.
Critics also cited the declining Pi Coin value, backing their claims that it is a failed project.
However, market pundits suggest that the delay in listing on a tier-1 exchange like Binance has triggered the selloff in the Pi Network market.
In addition, the lack of clarity from the Pi Core Team over the future prospects of the project has further dampened sentiment.
Meanwhile, the consistently higher token unlocks over the past few months might have also contributed to the losses.
However, despite that, renowned Pi Community enthusiast, Dr Altcoin, has highlighted key factors that ensure that Pi Network is not a failed project.
Besides, he has also revealed several reasons that set Pi Network apart and position it for long-term success.
Dr Altcoin said that the project’s six-year development period and its ability to maintain hope among millions of pioneers highlight its potential.
Long-Term Potential
Pi Network offers essential security features for its investors, including Know Your Business (KYB) for centralized exchanges, and KYC compliance.
Dr. Altcoin noted that the project’s strategy is built for long-term stability, rather than short-term hype.
He cited initiatives like the AI App Studio and the $100 million fund invested in projects like OpenMind.
The crypto commentator mentioned that a project’s vision to solve problems is a significant aspect that he prioritizes while choosing a project.
All the above aspects can be key to a projects potential success.
Pi Coin Value Soars: Expert Hints at Long-Term Potential
Pi Coin value has soared around 7% earlier today and exchanged hands at 0.402, but its trading volume fell 25% to $73 million.
This ongoing surge has extended its weekly gains to 19%, suggesting a renewed investor interest in Pi Network.
Amid this, Dr Altcoin has also revealed his accumulation strategy, hinting at his confidence in the long-term potential of Pi Coin value.
He said that he held a growing amount of Pi coin and aimed to acquire 100,000 to 150,000 coins within the next 2-3 years as part of his 5-year “HODLing” plan.
In addition, the expert believes Pi Coin’s true value will be realized through ecosystem growth and global adoption, rather than short-term price movements.
To fuel his investment, he has even redirected his monthly pension contributions to weekly Pi investments.
