The price of Pi Coin is currently in the spotlight of the cryptocurrency market. Discussions around the GCV concept and a potential listing on Binance are drawing interest from analysts.
Debate Over GCV Concept for Pi Coin
Dr. Altcoin, a prominent expert in the cryptocurrency field, criticized the Global Consensus Value (GCV) concept for the Pi Network. This concept, proposed by enthusiasts, claims a value of $314,159 per PI. However, Dr. Altcoin noted that with a current circulation of 7.4 billion PI, this concept is unrealistic. He emphasized that even with a limit of 340 million coins, the price would create a market cap equivalent to the entire world's annual GDP. The expert warns that GCV is not based on realistic valuation principles.
Potential Listing of Pi Coin on Binance
The Binance community voted in February for a PI listing, but regulatory and strategic issues have delayed the process. In anticipation of the upcoming Pi Day 2 event scheduled for June 28, speculation is growing that the Pi team will make a significant announcement. A listing on Binance, one of the largest crypto exchanges globally, could enhance Pi Coin's reputation and increase demand.
Analysts' Price Predictions for Pi Coin
Currently, PI is trading at $0.62, down 1.2% from the previous day. However, analyst MOON JEFF predicts an upcoming rally, stating PI could reach $0.8. He suggests that if PI breaks the $1.2 resistance level, it could hit an all-time high of $2. Another analyst, Weslad, warns that if the price falls below the $0.38 support level, it may drop to $0.16.
Discussions about the GCV concept and expectations surrounding the Binance listing are generating interest in Pi Coin. Analysts' forecasts indicate potential price growth, although the market remains under pressure.
