Pi Coin is showing signs of recovery, with price increases and trading volume rising ahead of the important Pi2Day event.
Recent Rise in Pi Coin
In the last 24 hours, the price of Pi Coin has increased by 19%, reaching $0.63, with trading volume rising by 153% to $285.65 million. The coin has achieved the top spot in the trending cryptocurrency list.
Expectations from Pi2Day
Analyst Kim H. Wong noted that this surge is a significant milestone for Pi Coin ahead of Pi2Day, occurring in three days. The event is expected to provide updates on the project's progress, ecosystem growth, and AI integration.
Potential Prospects and Risks
However, some analysts warn that this recent rally might be short-lived. The unlocking of over 268 million PI tokens is expected in July, which may exert downward pressure on the price. Dr. Altcoin suggested that the recent ceasefire between Israel and Iran is a positive sign for Pi, believing it is unlikely for the price to drop below $0.40.
While Pi Coin is showing growth ahead of significant events, market participants should remain cautious of potential corrections in the future.
