Pi Network is undergoing a tough period, losing over 45% of its value since February. While March's 'Pi Day' may revive interest, experts warn of persisting risks.
What Holds Back Major Exchanges from Listing Pi Coin?
Despite its substantial market valuation, Pi Network is not listed on major exchanges like Binance, Coinbase, and Kraken. A recent Binance survey stirred interest in a potential Pi Coin listing, but no decisive actions have followed. The lack of accessible trading platforms in the U.S. and South Korea exacerbates liquidity issues, further pressuring its price.
Are Investors Concerned About Rising Supply?
Investors are indeed worried about the rapid increase in Pi Coin's circulating supply. With a total of 100 billion coins, only 7.1 billion are currently available, raising the risk of significant dilution. This month alone, 188 million new Pi Coins are set to enter circulation, with projections of over 1 billion by year-end, intensifying apprehensions among investors.
Technical Indicators: Alarming Signs for Pi Coin
Technical indicators reveal concerning trends for Pi Coin, including the emergence of negative chart patterns such as head and shoulders and rising wedge formations. If current trends continue, the price could drop below one dollar. Increased circulating supply heightens dilution risks.
The outlook for Pi Network remains uncertain. The combination of negative technical signals and rising supply presents an unstable situation for the altcoin.
