Recently, the price of Pi (PI) has been fluctuating wildly, causing considerable confusion among its users, known as "Pioneers." During the trading session on June 13th, the price of Pi hit a low of $0.478 before recovering to around $0.60 on June 16th, a decrease of over 3% compared to the previous week.
The main reason is believed to be the prolonged silence from the Pi Core Team. Despite promising many important updates, there has been no significant progress to date, disappointing many investors. The tense situation between Israel and Iran has shaken the entire cryptocurrency market, and Pi has not escaped the sell-off.
However, despite the price drop, Pi's trading volume remains high (over $80 million in just 24 hours), indicating that money is still flowing in, mainly from "bottom-buying" investors who believe in the long-term prospects of this coin.
The Pi Network community is going through a difficult period after the price of the project's main token recently dropped below $0.50, even hitting a low of $0.40 at one point (Image: Cryptotimes).
Technical signals: Preparing for a strong surge?
On the technical chart, Pi is showing several patterns that could signal a bullish reversal. Specifically, a "hammer" candlestick pattern has appeared after a sharp decline – this is often a signal that the market may reverse. In addition, a "triple bottom" pattern around the $0.60 support level – a typical structure for a recovery trend – has also appeared.
Volatility indicators such as Bollinger Bands and Donchian Channels are also narrowing, a sign that the market is consolidating before a major move. The ATR (Average True Range) indicator is also gradually declining, further reinforcing the possibility of a "short squeeze" where short sellers are forced to buy back, pushing prices up.
If the price breaks above the 50-day moving average (EMA 50) at $0.66, an uptrend could be established and Pi could move towards the psychological resistance level of $1. However, if the price falls below $0.3945 – the bottom of the hammer candlestick – the recovery trend could be invalidated.
These "boosts" can come from the ecosystem.
Besides technical factors, several developments within the Pi ecosystem are also expected to provide impetus for the price.
First is the “.pi” domain name auction program – similar to Ethereum's ENS service. This is a step towards building the web3 infrastructure, allowing users to register their own domain names and use them within the Pi ecosystem. The auction started on March 14th and is expected to end on June 28th – coinciding with the “Pi Day 2” event.
According to the developers, the number of bidders is increasing rapidly, especially for domain names associated with major brands. Using PI tokens for auctions could help lock up or reduce the circulating supply, thereby supporting the price.
Secondly, the “Pi Day 2” event at the end of June is expected to bring groundbreaking information. In the past, the Pi Core Team has often chosen this occasion to announce major plans. Observers expect there may be progress related to the Global Consensus Value (GCV), incentive mechanisms, or a roadmap for the public Mainnet launch.
Next is the transition to the mainnet – a crucial step towards Pi achieving true liquidity. The first phase has already moved over 12 million accounts, and the upcoming second phase will open up both referral rewards and accounts that haven't completed the process yet. Once the circulating supply of tokens is controlled, the potential for natural price increases will be higher if demand rises.
The prospect of going public – a game-changer?
One of the biggest highlights, and also the community's greatest expectation, is the possibility of Pi being officially listed on major exchanges like Binance or Coinbase. Listing would not only significantly increase liquidity but also provide a psychological boost to the entire market. Many tokens, such as Livepeer and Orca, have doubled in value immediately after listing.
However, analysts believe that the lack of transparency in the token burning and locking mechanism, as well as the fact that Pi is not yet publicly traded, are barriers that are making major exchanges hesitant. To convince leading trading platforms, the development team needs to take more concrete and clear action.
Can Pi reach $10?
Many people still believe that Pi could reach $10 in the future, even though its current price is only around $0.60. This belief is based on the more than 70 million registered users. If even a fraction of these users were to use Pi for payments, shopping, or within the ecosystem applications, demand would skyrocket.
Expert Dr. Altcoin stated that for Pi to truly become a payment tool within its own ecosystem, its value needs to reach at least $10. Given that the majority of tokens are currently locked and supply is limited, the deployment of practical applications and expanded collaborations could be key to a price breakthrough.
Pi Network is at a crucial crossroads: on one side, it faces pressure from a lack of updates and falling prices, while on the other, it has long-term growth potential. If the Pi Core Team acts more decisively, from transparently outlining the roadmap and activating token economic tools to listing on major exchanges, then Pi still has a chance to establish itself in the cryptocurrency market.
Source: https://dantri.com.vn/kinh-doanh/dong-pi-giang-co-trong-su-hoang-mang-cua-gioi-dau-tu-20250616160656187.htm
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