All the joy across the Pi mainnet launch has light inside 24 hours of launch because the Pi Coin sees robust promoting strain with its worth crashing greater than 50% from the height of $2 yesterday. The promoting strain comes with enormous buying and selling exercise as every day buying and selling volumes surge to greater than $1.2 billion.
Pi Coin Sees Major Pump and Dump
Pi Coin, the native cryptocurrency of the Pi Network faces a serious pump-and-dump because it at present trades round $0.70 falling greater than 65% from its peak of $2.0 Investors’ euphoria surrounding the mainnet launch appears to be waning quick.
Even as of the present worth of $0.70, the Pi Network pegs a market cap of $4.45 billion. With greater than 10 million customers, the Pi Network has achieved vital market following. following the mainnet launch, a complete of 1 billion from the entire 9.7 billion PI tokens can be found initially. The remaining tokens shall be locked in consumer wallets and unlocked over a time frame.
Although some market analysts have turned bullish, traders needs to be cautious whereas taking recent bets and search for any potential indicators of pattern reversal.
Will Binance and Coinbase Listing result in Trend Reversal?
Despite the present Pi Coin price fall, the optimism surrounding the restoration stays excessive. Some market analysts consider that this might not be the suitable time to promote on the backside contemplating that the every day buying and selling volumes have remained sturdy at greater than $1.2 billion.
Some of the worldwide crypto exchanges like OKX and CoinDCX have already prolonged help to Pi coin. Furthermore, the trade has been pushing to carry the Pi Network’s native crypto token to prime exchanges like Binance and Coinbase.
Binance and Coinbase, being among the many largest cryptocurrency exchanges globally, provide entry to an unlimited consumer base and excessive buying and selling volumes. This elevated liquidity could make Pi Coin extra engaging to merchants and traders. Besides, it should additional enhance the credibility of the crypto asset amongst retail traders.
‼️ $PI community chart dosen’t look unhealthy in any respect 👀 are you promoting the underside?
Almost 1B quantity in 8 hours, and pi is listed on solely few CEX, when #Binance and different prime CEX come actual enjoyable will begin, purchase the dip and maintain #Picoin #PiNetwork #Crypto #Trump pic.twitter.com/i8rlk3k4ll
— GEM HUNTER 💎 (@TrueGemHunter) February 20, 2025
Pi Community Shows Discontent
Following the large pump and dump, there’s a serious discontent among the many Pi group. Notably, crypto commentator Wood LightYear expressed frustration over a selected narrative surrounding the Pi Network mainnet launch. In an announcement shared on social media, LightYear said:
“The only narrative I really hated about yesterday’s listing of Pi was that of people having cheap access to accumulate what we paid for with our time, for many years.”
The sentiment highlights issues amongst long-term supporters of the Pi Network, who consider the itemizing undermines the mission’s core narrative of valuing time and a spotlight
Bhushan Akolkar
Bhushan is a FinTech fanatic with a eager understanding of monetary markets. His curiosity in economics and finance has led him to concentrate on rising Blockchain expertise and cryptocurrency markets. He is dedicated to steady studying and stays motivated by sharing the information he acquires. In his free time, Bhushan enjoys studying thriller fiction novels and infrequently explores his culinary expertise.
Disclaimer: The introduced content material could embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.
