The Pi Network main network launch took place with great expectation. However, the price after the launch experienced a serious decrease. PI Coin lost 50 %in just 24 hours and disappointed investors. Previously, the IOUL price has increased to $ 183, now is currently traded at $ 0.66.
Why did Pi Coin drop?
Hard price fluctuations are normal in newly released token. However, the decline of Pi Coin stems from market dynamics that did not meet expectations.
Before the launch, some investors thought that the price would rise to $ 300. However, the sales pressure in the market and the lack of sufficient liquidity caused the price to fall rapidly. The current market conditions made it difficult to realize these expectations.
Strong Aspects of Pi Network
Despite the price decrease, the Pi Network project has some advantages. Especially a large mass of user and stock market attracts attention.
Pi Network has created a large community with more than 10 million active users. Also, OKX, Mexc, Bitget, Gate.io, Coinw are listed in nine large stock exchanges. These factors show that the project may attract more attention in the future.
Can Pi Coin reach $ 10?
Only 10 %of Pi Coin’s total supply is circulated. Considering the total supply of 100 billion tokens, the fully diluted market value is $ 6.39 billion.
If the price of Pi Coin increases to $ 10, the total market value must reach a level of $ 1 trillion. However, analysts say this is low. The current dynamics on the market do not support such an upward.
Will Binance Pi Network list?
Binance launched a community vote to list Pi Coin. So far, 85 %of the votes have been used to list. This shows investors’ interest in Pi Coin.
If Binance lists Pi Coin, analysts predict that the price can rise to $ 2.60. However, it remains unclear whether this rise will be permanent.
What will be the next steps for Pi Network?
The future of Pi Network depends on the support of large stock exchanges and the solving liquidity problems. If market confidence is achieved, price stability may be possible. However, the current decrease trend forces investors to be cautious.
The coming weeks will be critical for the future of Pi Coin.
