Pi Network’s native cryptocurrency, Pi Coin (PI), has experienced a major drop in value, falling below the $1 mark. As of recent market data, Pi has lost more than 18% in the last 24 hours, raising concerns among investors. If PI fails to maintain its $0.95 support level, further declines could push the coin to as low as $0.87. On the other hand, a shift in sentiment could see it rise back to $1.34 and beyond, but bulls face a difficult challenge to regain momentum.
Several factors have contributed to Pi Coin’s sharp decline in value, and the situation has left investors scrambling for answers.
Binance and Coinbase Listing Failures
A factor behind Pi’s downfall is the delay in listing the coin on major exchanges like Binance and Coinbase. Both platforms previously teased the possibility of listing PI, sparking speculation and optimism among investors. However, the failure of these listings to materialize has dampened sentiment, leading to a drop in demand for Pi Coin. The lack of official exchange listings has left many to question the coin’s future and viability in the broader market.
Decreasing Supply and Deflationary Pressures
Although Pi Network has not formally announced a coin burn, the supply of Pi is steadily shrinking. Several mechanisms have contributed to this decrease:
The drop in Pi Coin’s value has sparked widespread fear, uncertainty, and doubt (FUD) in the market. Sentiment has worsened by 80% within a single day, with some users even claiming “manipulation” and “panic” selling. Trading volume has decreased by 37%, signaling a reduction in market activity.
Pi Coin is falling due to delayed exchange listings, deflationary pressures, and weakened investor sentiment, leading to increased FUD and panic selling.
While Binance and Coinbase have teased a potential Pi Coin listing, no official confirmation has been given, causing uncertainty among investors.
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