Pi Network's BTCC Listing: Price Outlook & Analysis
Pi Network Lists on BTCC Exchange
Pi Network recently secured a significant listing on BTCC Exchange, sparking investor interest. While the Pi coin price has experienced a recent downturn, falling to $0.68 in the last 24 hours due to a lack of positive catalysts, the BTCC listing and other market trends suggest potential for a price rally towards $1.
Following the BTCC announcement on X (link), Pi's price showed a slight increase, trading at $0.7184, with a 24-hour high of $0.7535 and a low of $0.6806. Despite this short-term gain, the coin is down over 22% in the last seven days and more than 60% over the past month.
Factors Affecting Pi Coin Price
Since its mainnet launch, Pi Network has attracted considerable attention. However, significant token unlocks in March contributed to recent price drops. The lack of major announcements from the Pi Core Team and the absence of a Binance listing further dampened investor sentiment.
A potential recovery is anticipated in April due to lower token unlocks. PiScan data indicates that only 124.32 million Pi tokens will be unlocked this month, the lowest from April to August. This compares to 182.37 million in May, 222.68 million in June, 233.37 million in July, and 132.52 million in August. The reduced influx of tokens in April could drive a price increase, potentially pushing it above $1.
Pi Network Price Prediction: Bullish or Bearish?
While some experts predict a bullish outlook for Pi Network, the current volatile market requires cautious optimism. Some price predictions point to a potential dip to $0.64 in April. However, analyst Crypto Jex presents a bullish forecast, anticipating a price surge to $1 based on a perceived ABC Recovery Pattern within a key accumulation zone. Jex suggests an entry zone of $0.64-$0.77, with a stop-loss at $0.60 and targets of $0.95-$1.00, $1.30-$1.50, and $1.80+ upon trend confirmation.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Market conditions are volatile, and cryptocurrency investments involve risk. Conduct thorough research before investing.
Codeum Note: Codeum offers comprehensive blockchain security services, including smart contract audits, KYC verification, and custom smart contract development. We help projects navigate the complexities of tokenomics and ensure secure deployments.