Altcoin Pi Network (Pi) Today, it lost more than 25 percent and withdrew to about $ 1.10. This harsh decline stems from the arrival of additional fresh supply to the market with the opening of 8 million Pi Coin’s lock. During the strong rally that started in the previous days, the price increased to $ 1.29, and some stock exchanges saw $ 1.40. 13 million Pi Coin, which will be opened on May 15, is seen as a new source of pressure concern among investors.
Effect of Pi Coin Lock Openings in Pi Network
8 million pieces Pi CoinSuddenly, the introduction of the purchase and sale balance broke the balance and withdrew the price. Such developments, which are called supply shocks, often test the trust of investor. Large players who want to sell Coin in their hands with a sudden increase in supply and the demand can not respond at the same speed. The resulting pressure causes the price to fall further in the short term.
Investors are approaching the issue due to additional 13 million coins supply to the lock on May 15th. Altcoin shows $ 0.80 and $ 0.60 as critical support levels. If Pi Core TeamThese support levels can be tested if the expected announcement on May 14 does not exit. Buyers are waiting for the price to recover by watching the most suitable opportunity.
Binance listing and future scenarios
Rumors of binance listing Pi Coin PriceIt stands out as an important development that can change the fate of the fate. Being on the world’s largest crypto currency exchange can increase the liquidity and strengthen the visibility of the project. However, uncertainty continues before the listing is finalized, and investors look forward to the official listing announcement.
The announcement from Pi Core Team on May 14 is about the course of the price Pi can determine a new direction for. Roadmap updates, cooperation news, or new feature announcement can push the price up by users like cheese bread. After a strong announcement, the $ 1,30–1.50 band can be tested. However, an announcement that will remain below expectations may cause the price to be shaken and harder.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
