The Pi cryptocurrency, which has faced intense scrutiny over its transparency and exchange listings, has recently seen an improvement in sentiment, sparking renewed optimism among investors.
PI Network Market Sentiment Turns Positive
Pi Network Coin has been in a downward trend, largely due to selling pressure from newly unlocked tokens. However, with the unlock rate set to drop from 13 million PI per day to just 3.8 million, some analysts believe the Pi crypto price could soon rebound.
Pi Network Coin price rebounds from $0.95, forming a higher low on lower timeframes, indicating bullish momentum. Source: TradingView
A crypto expert on X noted that the PI/USDT pair had been trading in a descending channel but recently reclaimed a key resistance level, which is now acting as support. “If Pi Coin breaks out of this channel with strong momentum, we could see a move toward $2,” the analyst stated.
Pi Network Coin Faces Exchange Listing Challenges
Despite its growing popularity, the Pi Network Binance listing remains elusive. According to crypto analyst Dr. Altcoin, the lack of transparency surrounding Pi Network’s tokenomics is a major barrier. He pointed out concerns over the locking and burning mechanism of billions of Pi tokens, which has led to regulatory hesitations.
The question arises whether Pi Network should be listed on Binance due to concerns over its transparency and value. Source: AG Bangs via X
“I think the Pi Core Team has not been transparent enough about the locking and burning mechanism of the billions of Pi coins owned by the PCT,” he stated.
Additionally, there are debates over whether the delay in a Pi Coin exchange listing is due to transparency issues or the Pi Core Team’s refusal to pay exchange listing fees. Some investors believe that Pi Network sell restrictions and market manipulation concerns are also factors preventing major exchanges like Binance and Bybit from listing the token.
Pi Cryptocurrency Supply Adjustments Raise Questions
The total circulating supply of Pi currency has recently been reduced to 6.77 billion following the removal of 10 million coins. While some investors see this as a move to maintain Pi crypto value, others warn that without clear communication from the Pi Core Team, it could be perceived as market manipulation.
Historical data shows that previous token unlocks have triggered sharp declines in the Pi token price, making investors wary of future fluctuations in the Pi Coin market. The value of Pi Coin has dropped significantly from its all-time high of $2.98 in February, currently trading around $1.
Partnerships Could Strengthen Pi Coin Worth
Pi Network recently highlighted a collaboration with PiDaoSwap, aiming to enhance transparency and governance within the Pi Network ecosystem. This fully community-driven project could improve confidence in the Pi Coin market and contribute to long-term stability.
Pi News has partnered with PiDaoSwap and become a member of its community-driven, decentralized DAO to help build the Pi ecosystem. Source: Pi News via X
Such developments, along with the upcoming reduction in unlocked Pi tokens, may support a more sustainable Pi Network trading environment. If demand for Pi Coin trade increases, a price surge could follow.
Pi Network Price Today: Will PI Break Above $1?
While the Pi Coin worth has been under pressure, improving sentiment and potential exchange listings could push the token higher. Analysts suggest that if the Pi mainnet gains traction and major exchanges reconsider their stance, the Pi cryptocurrency value could rise significantly.
Pi Network’s price has fluctuated significantly, dropping below $0.90 after a 20% decline, with resistance levels at $1.20 and $1.50-$1.80. Source: SL-Trades on TradingView
For now, traders are closely watching the Pi Coin price action, with key resistance levels ahead. If Pi mining rewards remain attractive and adoption grows, the Pi token could see further bullish momentum in the near future.
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