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The price of Pi Network’s native coin has significantly underperformed major cryptocurrencies like Bitcoin, currently trading below the $1 mark and having plummeted nearly 80% from its peak. A concerning drop in daily trading volume to under $100 million further underscores waning investor interest. Analysts suggest that Pi Coin’s price recovery hinges on listings by prominent cryptocurrency exchanges.
Lack of Tier-1 Exchange Listings and Token Unlocks Weigh on Pi Coin
Two primary factors are contributing to Pi Network’s price stagnation: the absence of listings on top-tier exchanges and the impending release of a substantial number of tokens. Data indicates that approximately 1.6 billion Pi tokens, valued at over $1 billion, are scheduled for release within the next year. This influx of new supply is likely to exert downward pressure on the price, particularly in the absence of robust buying demand.
Currently, Pi Coin trading is primarily confined to exchanges such as Gate.io, Bitget, OKX, LBank, and MEXC. While these platforms are significant players in the crypto space, they are not generally considered tier-1 exchanges. The listing of Pi Network on major platforms like Binance, Upbit, or Coinbase could potentially trigger a significant price surge. Binance, the world’s largest cryptocurrency exchange, boasts a user base exceeding 200 million. Historical data shows that cryptocurrencies often experience substantial price increases following a Binance listing, as seen recently with DeepBook. Upbit, with its strong presence in the South Korean market, represents another key avenue for price appreciation, evidenced by Orca’s 170% surge after its Upbit listing. Coinbase, on the other hand, would provide crucial access to the US investor base.
Technical Analysis Points to Potential Further Price Decline
Technical analysis of Pi Coin’s eight-hour chart reveals it has been trading within a tight range between $0.4015 and $0.7660 throughout the current month. Notably, a rising wedge pattern has formed, a technical indicator that often precedes a price breakdown as the upper and lower trendlines converge. This pattern suggests that the most probable scenario is a downward move, potentially revisiting the month’s low of $0.4015, representing a potential 40% decline from current levels.
However, analysts also acknowledge the possibility of a short squeeze, particularly if a major exchange announces a listing. Such an event could trigger a dramatic price surge, potentially pushing Pi’s value towards the $3.14 mark.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Can You Really Spend Pi Coin in 2025? Here’s What You Can (and Can’t) Buy
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
