In the last 24 hours, Pi Coin's price increased by over 3%, indicating rising interest in the token amid a general market uptrend.
Pi Coin Breaks Resistance, Eyes $1
Pi Coin’s price has managed to break above a key resistance zone between $0.66 and $0.67. This breakout came with strong trading volume, suggesting growing buyer interest. The Relative Strength Index (RSI) is currently at 56.68, indicating growing bullish momentum. If the price stays above this resistance, it could target between $0.85 and $1.00 in the short term.
Token Supply and Liquidity Concerns
According to analyst Dr Altcoin, Pi Coin’s circulating supply suddenly jumped by 5 billion tokens — from 7 billion to 12 billion — earlier today. However, the supply available on crypto exchanges didn’t change. This sudden increase likely came from a 5 billion Pi liquidity pool, possibly to prepare for a major exchange listing. However, 9.3 million Pi tokens are unlocking today, which could add pressure on the price.
Possible Listing on Binance
There’s also speculation that Binance might list Pi Network soon. Blockchain activity hints at preparations for a new token listing, with a Binance-linked wallet recently processing over 294,000 test transactions with Pi tokens. The structure of Pi Network’s blockchain is similar to Stellar (XLM), which is already listed on Binance, making a listing technically easier.
The situation with Pi Coin continues to evolve, with various factors that could influence its price in the coming weeks, particularly in light of the upcoming announcement from the Pi Network team and potential listing on Binance.
