Pi Network mainnet launch is coming: will Pi coin rise or fall?

The Pi Network IoU token price has remained flat at a key support level as developers prepare to launch the mainnet.

Pi Coin was trading at the psychological level of $50, significantly lower than its November high near $100. The main catalyst for the sell-off has been the ongoing delay in the mainnet launch. Developers initially postponed the first grace period for know-your-customer verification from Nov. 31 to Dec. 31.

In December, they pushed the grace period again to Jan. 31, citing that millions of pioneers had yet to migrate their tokens to the mainnet. At the time, over 18 million members had completed KYC verification, but only 8 million had moved their tokens to the mainnet.