Pi Coin’s price action has been driven by several key factors, including its open mainnet launch, potential exchange listings, and macroeconomic and regulatory changes.
The open mainnet launch of Pi Network finally allowed users to migrate mined coins outside the network, generating excitement and buying pressure. Additionally, speculation surrounding a possible listing on major exchanges like Binance has contributed to the coin’s volatility. The CoinDCX Research Team notes that institutions like BlackRock have been offloading billions worth of Bitcoin and Ethereum, contributing to broader market weakness.
Tariff tensions between the US and China, combined with shifting regulatory stances on crypto, have added to the uncertainty. Industry leaders have also expressed concerns about Pi Coin’s legitimacy, with Bybit CEO Ben Zhou dismissing the project as a scam.
Despite its rapid rise, Pi Coin faces scrutiny and skepticism from experts. Its lack of transparent market capitalization and comparisons to pyramid schemes have raised questions about its security and credibility. While some analysts predict that Pi Coin could exceed $500 by 2030 if it gains real-world utility and widespread adoption, others warn that without a clear use case and transparent circulating supply, the token remains highly speculative.
Pi Coin’s total supply stands at 10.11 billion, with a max cap of 100 billion. The coin is currently listed on exchanges such as CoinDCX, OKX, and Bitget, requiring users to complete a Know Your Customer (KYC) process and deposit funds into their wallet before placing an order.
Investors should tread cautiously, weighing the potential for exponential growth against the risks associated with Pi Coin’s volatility. The fate of this cryptocurrency remains uncertain, and only time will tell if it emerges as a true decentralized finance disruptor or fades into obscurity.
Source: https://economictimes.indiatimes.com/news/new-updates/pi-coin-crashes-11-coin-soars-then-dropsshould-you-buy-the-dip-during-this-crypto-rollercoaster/articleshow/118622301.cms?from=mdr