- The community is looking forward to PIDay on March 14 despite the current slump.
- At the time of writing, PI (Pi) coin is trading at $1.35, down 20.16% in the last 24 hours.
Thanks to its user-friendly mobile app, Pi network has been gaining users at a steady rate. The price of Pi coin reached a new all-time high of $2.99 on Feb 27.
Moreover, the community is looking forward to PIDay on March 14 despite the current slump. Bearish market sentiment at the moment, meanwhile, makes optimistic forecasts for the near future seem questionable. Increased volatility is indicated by the market cap ratio of 8.72%.
After much anticipation, the Pi network mainnet debut took place this year, igniting excitement. The Pi network is launching its features in a strategic manner to strengthen its position in the market, with the support of a solid foundation of Standard alumni.
Despite being a mid-cap cryptocurrency with little in the way of project hype beyond its straightforward mining process, Pi coin has proven to be a formidable market competitor. According to CMC data, its market cap surged rapidly, propelling it to the 11th spot.
Bears in Control
With Bitcoin hovering around the $82K level, the crypto market is exhibiting a severe bearish trend. With a drop of 20.16% in the last 24 hours, Pi (PI) is now trading at $1.37. Despite a 168.76 % increase in trading volume to $852.96 million, the market cap has plummeted 20.89% to $9.79 billion. Panic selling, as shown by the uptick in trading activity, is adding fuel to the fire of pessimistic sentiment.
At the time of writing, PI (Pi) coin is trading at $1.35, down 20.16% in the last 24 hours. The price has been on a downward trend for quite some time now. However, it briefly found support at $1.2 level. Breaking below this level will likely see price testing $1.0. However, if the bulls manage to drive the price above $1.4 then it will likely test $1.6 resistance level.
The Pi community, meantime, has been patiently waiting for Binance, the leading exchange, to list the coin for quite some time. The price of the Pi coin can reach new heights if Binance announces that it will list the token.
The cryptocurrency market may have taken a hit after Trump’s White House Crypto Summit, but the US government’s stance in favor of cryptocurrencies will ultimately benefit the sector. Consequently, the Pi coin price could rise to $3 by the end of April if the cryptocurrency market experiences a bull run in the coming months.
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