Pi Network exhibits a remarkable recovery after its price fell to $0.6156 in February. By March, it surged nearly 190% to $1.7650. Let's explore the factors influencing Pi Network's price dynamics.
Rise After Mainnet Launch
Following the mainnet launch, Pi Network overcame fraud fears and stabilized confidently. Its price rose to $1.7650, a 190% increase from February 20. The growth demonstrates investor confidence in the network's potential.
ETF Potential and Exchanges
Pi Network may become an ETF candidate as its market cap exceeds $13 billion, making it larger than other coins with ETF applications. Exchanges, including OKX, Bitget, MEXC, and Gate.io, have listed Pi Network. Major exchanges like Binance, Coinbase, and Kraken are expected to follow suit soon.
Token Dilution Risks and Technical Analysis
The greatest risk for Pi Network is token dilution, with a max supply of 100 billion tokens and a circulating supply of 7 billion. Billion-token batches are anticipated to release annually, potentially diluting current holders. Additionally, technical analysis shows pattern formations like the triangle and head-shoulders, indicating potential future price changes.
Pi Network continues to amaze with its price dynamics and prospects. However, investors should consider both the positive potential and risks associated with token dilution and technical patterns.
