Pi Coin Price Prediction: 24-hour big pump of 20% breaks through $0.25, is the SWIFT integration rumor true?

After nearly eight months of continuous downturn, with a value reduction of over 93%, Pi Coin hit a low of 0.172 USD on October 10, and subsequently found solid support around 0.20 USD. This Monday, the price of Pi Coin rose by 20%, reaching a three-week high above 0.25 USD. Speculations behind this surge include the potential entry of Wall Street capital and rumors of significant progress by Pi Network in integrating with the SWIFT network. Meanwhile, Pi Network officially announced that an additional 3.36 million Pioneers have fully passed KYC verification, with about 2.69 million having migrated to Mainnet, indicating that the network's real user base is steadily expanding.

PI Price Fluctuation: Rumors Trigger Market Frenzy

Pi Coin was launched in late February this year, briefly reaching a peak of 3 dollars before entering months of decline, hitting an all-time low of 0.172 dollars on October 10. However, after finding support at 0.20 dollars, PI experienced a dramatic rebound this Monday, rising 20% in a single day.

Two Major Speculations Behind the Big Pump

The Pi Network team recently released a major update regarding the verification process and new features, but this information did not immediately lead to such a drastic price reaction. Users who have been following the Pi Network on platform X speculated that “a big event is brewing”:

1. Wall Street capital involvement: Users like Dr. Pi speculate that this rise may be due to Wall Street capital entering the Pi Network ecosystem, as they are “closest to the Pi Network core team.”
2. SWIFT Integration Rumors: Pi Coin Magazine has proposed another possibility that Pi Network has made positive progress in attempting to integrate and be compatible with the SWIFT network. They cited a message from a CEX as an indication: the exchange successfully passed the Pi Network's KYB (Know Your Business) verification and stated “Pi SWIFT Integration: Cross-border banking has been activated.” If true, this means that the cross-border banking capabilities of Pi Bank have been successfully integrated into the SWIFT system, which would be a groundbreaking development in the field of global transactions.

Sustainability in Doubt: Hedging Historical Pullbacks and KYC Progress

Despite the latest price surge being exciting, the sustainability of the price trend remains in doubt for Pi Coin investors. Historically, Pi Coin has experienced similar significant price fluctuations, but they were followed by more pronounced pullbacks.

Lessons from historic big pumps and crashes

In May of this year, the Pi Network team hinted at a major announcement, and subsequently, the price of Pi Coin surged by three digits within a few days. However, the rise was blocked at $1.70, and the subsequent sharp correction brought the price down to levels even lower than the starting point. This indicates that the price of Pi Coin is highly sensitive to rumors and expectations, but lacking actual mainnet applications and open ecosystem support, it is prone to profit-taking and secondary dips.

Pi Network KYC Progress: Consolidation of Real User Base

Compared to the short-term fluctuations in price, the latest progress of Pi Network in user verification (KYC) is a more important indicator of the project's long-term value.

3.36 million users completed KYC

• System Process: The recently released system flow conducted additional checks on the “provisional KYC” cases, allowing 4.76 million provisional KYC users to qualify for full KYC completion.
• New verification: Currently, there are 3.36 million additional Pioneers that have fully passed KYC verification.
• Mainnet Migration: Among the 3.36 million fully KYC-verified Pioneers, approximately 2.69 million have successfully migrated to the mainnet blockchain.

AI model and network integrity

This large-scale system process involves using advanced AI models to analyze large datasets such as active checks and KYC application data. Its purpose is to verify that applicants are real, living individuals and to ensure that their applications pass additional checks, ultimately being fully approved through KYC.

Anti-cheating mechanism: These verification measures aim to prevent cheating accounts through KYC, adhering to Pi Network's “one person, one account” policy, further protecting the integrity of the network and fairness to honest, real Pioneers.

In addition, actively mining and participating in Pi applications may help trigger many underlying automatic system processes, thereby accelerating the KYC and migration processing speed.

Conclusion

The 20% big pump of Pi Coin undoubtedly attracted market attention, whether it is the rumors from Wall Street or the hints of SWIFT integration, all providing imaginative space for this speculative rise. However, investors must recognize its historical high volatility and retracement risks. In contrast, Pi Network announced that over 3.36 million users have completed KYC, and nearly 2.7 million users have migrated to the mainnet, which is the real progress in consolidating its Web3 ecosystem foundation. Investors chasing short-term rises must pay attention to the real progress of the network's opening of the mainnet and the actual landing of the application ecosystem.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make cautious decisions.