The Pi coin worth has hit a new all-time excessive (ATH), sparking a bullish outlook for the crypto. This rally to a new ATH, particularly amid the downtrend within the broader crypto market, has forged doubts concerning the rip-off allegations in opposition to the Pi community.
Pi Coin Price Hits New All-Time High
CoinMarketCap data exhibits that the Pi coin worth has hit a new all-time excessive of $2.98 at present, simply six days after it hit an all-time low of $0.6. This growth is extra vital contemplating that the coin has defied the chances and rallied amid the latest crypto market crash, which led to a vital worth decline for Bitcoin, Ethereum, Solana, XRP, and different main digital belongings.
Pi’s rally to a new ATH has once more raised discussions about whether or not the Pi community is a rip-off. Prior to the community’s mainnet launch, some crypto group members had described it as a rip-off, and likewise, after the launch, these rip-off allegations endured because the Pi coin worth crashed to new lows.
In reality, Bybit CEO Ben Zhou labeled the Pi community as a rip-off and reiterated that his change wouldn’t record the token. Meanwhile, in an X put up, crypto influencer SHIB Gems opined that the Pi community is a rip-off regardless that he believes market individuals can nonetheless earn a living from the coin.
Network Responds To Scam Allegations
In an X put up, the Pi community responded to Ben Zhou’s rip-off allegations. The group said that the community is just not affiliated with, nor did it authorize or have interaction in any exercise that’s associated to the Chinese police’s warning. They additionally added that the community has not been contacted by any police division in China concerning any rip-off incident.
The group additional described the Pi community as a “legitimate platform.” According to them, that is apparent primarily based on its six-year observe file and over 60 million engaged customers. They additionally defined that the delay within the network’s mainnet launch, which befell on February twentieth, was deliberate to make sure the undertaking was profitable and absolutely developed earlier than launch.
The delay additionally occurred as a result of the group needed a well-established group to mitigate challenges different launches face, together with actions that unaffiliated unhealthy actors perpetrate. Meanwhile, they reaffirmed that the Pi community isn’t related to the social media accounts that attacked the Bybit CEO and condemned those that made these feedback in opposition to Zhou.
Pi Coin To Hit $10
Following the rally to a new ATH, crypto analyst Gem Hunter has predicted that the Pi coin worth may nonetheless rally to as excessive as $10. He famous that regardless of different cash dumping and the market being bearish, Pi nonetheless hit $2.
The analyst alluded to a potential Binance itemizing, which seems to be among the many causes he’s assured that the Pi coin worth can commerce above $5 and probably hit $10. The analyst rightly predicted that Pi would hit $2.8, which has occurred even earlier than the highest crypto change listed the coin.
Crypto group member Moon Jeff asserted that Pi is coming to Binance. He revealed that 192,000 Binance customers had voted for the Pi itemizing on the highest crypto change as of yesterday. On the opposite hand, 29,000 customers have voted in opposition to the coin’s itemizing.
Seeing that the majority have voted in favor of a itemizing, Moon Jeff said that Binance may record the Pi community quickly sufficient. A Binance itemizing is undoubtedly bullish for the Pi coin and will ship its worth to new highs. However, it’s price mentioning that many Pi customers have but to obtain their allocations. As such, the coin may witness vital promoting stress when customers obtain their tokens.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto information author and editor who has lined matters that reduce throughout DeFi, NFTs, sensible contracts, and blockchain interoperability, amongst others. Boluwatife has a knack for simplifying probably the most technical ideas and making it straightforward for crypto newbies to know. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The offered content material could embody the private 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 accountability to your private monetary loss.
