Analyst Sets $0.50 Price Target for Pi Coin Amid Increased Mainnet Activity

Current Trading Status: Pi Coin is currently trading at approximately $0.35 after a 7.33% decline, but rising trading volume and support levels suggest a potential rebound towards $0.50.

Market Speculation: Analysts believe that speculation surrounding a second mainnet migration is driving interest in Pi Coin, with expectations that it could lead to increased liquidity and adoption.

Technical Analysis Insights: Market analyst Jen indicates that Pi Coin's price action shows signs of a potential breakout from a downward trend, particularly if it holds above the $0.35 demand zone.

Future Outlook: The balance between short-term declines and long-term bullish catalysts suggests that if the network confirms a second migration phase, Pi Coin could not only reach $0.50 but also strengthen its position in the crypto market.