- Pi Network’s price remains under pressure due to limited exposure on major exchanges and an upcoming token unlock that could flood the market.
- listing on top-tier platforms like Binance, Coinbase, or Upbit is crucial to spark renewed demand and potentially trigger a significant price surge.
The Pi Network was once perceived as a game changing mobile first crypto project. Now, project is under mounting pressure as the token lugs behind in its market price growth. Notably the token is trading below the $1 mark. To be more precise the digital asset is trading at $0.6577 marking a 2.98% surge in the past 24 hours.
It is worth mentioning that its market price is down nearly 80% from its all-time high. many investors are questioning its future trajectory.
The team is currently doing everything possible to address the matter. The project’s team, as we reported, according to prominent cryptocurrency analyst Dr Altcoin, the PCT is taking decisive action to stabilize the Pi Network’s price following turbulence caused by a recent token unlock event.
In a post on social platform X, Dr Altcoin revealed that a sub-wallet, reportedly affiliated with the PCT, has been snapping up millions of Pi Coins from centralized exchanges in what he calls a “valiant attempt” to cushion the network against price volatility.
One of the biggest challenges Pi faces is its massive upcoming token unlock. Over the next 12 months, the network is set to release 1.6 billion Pi tokens, valued at around $1.06 billion. Without increased demand or major exchange listings to absorb this supply, the risk of further price depreciation remains high.
Of all potential listings, Binance could be the most impactful. As the world’s largest crypto exchange with over 200 million users, Binance has a proven track record of boosting coins upon listing. For instance, the price of DeepBook soared following its debut on Binance Futures. A similar effect could play out for Pi Coin, possibly driving its price as high as $3.14 due to a short squeeze scenario.
Upbit, dominant in the South Korean market, also holds significant sway. The recent 170% one-day spike of Orca after its Upbit listing shows just how influential this platform can be. Given South Korea’s crypto-savvy population, a Pi listing on Upbit could generate immense interest and volume.
Meanwhile, Coinbase offers critical exposure to the U.S. market. Notably, Coinbase’s chief legal Officer, Paul Regal, sparked this excitement after taking to the x platform to tweet about Pi Day, featuring an image of pies adorned with the Pi logo.
Pi Coin Technical Analysis
Technically, Pi Coin’s price is trapped within a rising wedge pattern between $0.4015 and $0.7660, a formation that typically signals a breakdown. If no major catalysts emerge, a fall back to $0.4015, or even lower, is likely.