Pi Network (PI) Price has been a topic of much discussion in the crypto world, especially with its recent mainnet launch. After its debut, the Pi initially experienced a dip but has shown significant recovery this week. The price of Pi Coin reached a new ATH after the launch, maintaining a bullish trend despite a slight decline. With its unique mobile phone mining model, there are growing questions about the potential impact of Pi Coin on the crypto market. Should you buy Pi Coin now?
Pi Network Price Listing Speculation Grows Amid Voting
Pi Coin has yet to secure official exchange listings, leaving its actual value uncertain. Major platforms like Binance and Coinbase have not listed Pi Coin, and the project remains in its testnet phase. While the network has gained millions of users worldwide, its full integration into the blockchain is still pending.
Despite the absence of listings, Pi Network has built a strong user base. Over 35 M people mine Pi on mobile devices, contributing to its growth. However, concerns persist about the project’s long-term viability and whether it can meet expectations.
A recent Binance poll asked users if Pi should be listed. The vote closes at midnight on Feb. 27, with 86% currently in favor. This follows announcements from Orderly and Bitget, both of which introduced Pi futures.
Pi’s market debut priced the coin lower than its unofficial IOU value. The final outcome of the Binance poll may determine Pi Network’s next steps in the crypto space.
Will Pi Countinue Defying the Crypto Trend?
Pi token, surged to a record high of $2.98 on Feb 28 after an impressive uptrend. The price initially declined following its launch but recovered on Feb 21, gaining strong momentum. PI Coin broke out from an ascending parallel channel, confirming support twice with long lower wicks.
Despite a slight dip, PI Coin remains a standout performer. Unlike BTC, ETH, XRP, and SOL, which have struggled recently, PI Coin maintained its bullish trajectory. The price spiked over 80% in a single day on Feb 26, defying the broader market trend.
The latest Pi price has dropped by 20% in the last 4 hours, reaching $2.07. The price is testing the $2.10 support level, which is a key zone for buyers.
Such a downward movement below this support level would potentially result in prices falling towards $1.50 and potentially reaching $1.00.
Another PI price rally toward $2.50, $3 or $5.00 remains possible as long as the price maintains itself above $2.10. The Relative Strength Index (RSI) stands at 46 on the 4-hour chart, indicating a neutral trend.
Should You Buy Pi Coin Now?
The debate about the Pi price persists because people remain uncertain about its authenticity and sustainable future prospects. People appreciate the ease of mining through mobile platforms but doubt the transparency of the project and its practical uses in the real world. Early investors in Pi Coin show growing interest because they expect profitable returns.
The network has recently gained speed by obtaining key exchange listings from OKX, Bitget, and MEXC. The network maintains undefined long-term sustainability and future worth.
Investors must exercise caution when dealing with Pi Coin because its potential achievement in the crypto market has not been fully established.
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