The commencement of Pi Coin trading on various platforms resulted in a significant decline in its value, raising questions about its future in the cryptocurrency market.
What Caused the Price Fluctuations of Pi Coin?
On its initial trading day, Pi Coin started at $2, peaked at $2.20, and then dropped to $0.90. Currently, it fluctuates between $0.60 and $0.80. Expert Kim Wong suggests that if Pi Coin surpasses the $0.80 threshold, it could quickly approach $1, with $2 becoming a possible target if it breaks the $1 barrier. Such growth hinges on significant advancements within the Pi Network ecosystem or potential listings on major exchanges like Binance.
Is Pi Coin Undervalued?
Many traders view Pi Coin as undervalued due to misconceptions about its circulating supply. While it appears there are 6.35 billion Pi Coins circulating, only 554 million are actually available for trading. As understanding around this supply discrepancy improves, some analysts predict a substantial price surge.
Future Prospects of Pi Coin
Pi Coin’s trajectory will largely depend on market dynamics and developments within its ecosystem. Growing awareness about the actual supply and positive developments like listings on major exchanges could create conditions ripe for a significant price increase in the near future.
Despite the current decline, Pi Coin might rebound if market conditions improve and positive developments occur within its ecosystem, potentially leading to future growth.
