Can Pi Coin Price Hit $1 Soon?

Pi Network has recently secured a major listing on BTCC Exchange, which has fueled market discussions over its potential impact on crypto. Notably, the Pi Coin price has taken a massive hit lately, falling to as low as $0.68 in the last 24 hours due to a lack of any positive catalyst. However, the latest market trends hint towards a potential rally for the crypto to $1.

Pi Network Sees Listing On BTCC Exchange

Pi Network price has witnessed a major listing recently, which has sparked investors’ optimism as the listings often help drive the prices higher. In a recent announcement on X, BTCC Exchange said that it had added the crypto for spot trading.

Meanwhile, with this latest listing and other positive market trends, Pi price today was up over 1% and exchanged hands at $0.7184. The crypto has touched a 24-hour high and low of $0.7535 and $0.6806, respectively. However, despite the current gain, the crypto has lost more than 22% over the last seven days, while witnessing a slump of over 60% in the monthly frame.

Here’s Why Pi Coin Price May Recover Soon

Pi Network price has been on the investors’ radar since its mainnet launch. However, massive token unlocks in March have been one of the prime factors that has contributed to the recent losses of the token. In addition, the lack of any major announcement from the Pi Core Team and the lack of listing updates from Binance has further weighed on the sentiment.

However, Pi Coin price is expected to witness a recovery in April as token unlocks will hit their Low in April. According to PiScan data, April will see the lowest token unlocks from April to August.

Only 124.32 million Pi tokens will be unlocked this month. In contrast, the following months will witness a surge in token unlocks, with 182.37 million in May, 222.68 million in June, 233.37 million in July, and 132.52 million in August.

Besides, the token unlocks from April 7 to April 11 will be around 1.5 million tokens daily. Having said that, this low influx into the market might help in a strong recovery of the token, potentially pushing its price to above $1.

What’s Next For Pi Network Price?

As said, Pi Network is likely to be gearing up for a strong recovery with experts predicting a bullish future ahead. However, looking at the current volatile scenario in the broader market, investors should exercise due diligence before putting their bets. Besides, a Pi price prediction also hints towards a bearish picture, indicating a potential dip to $0.64 in April for the crypto.

However, despite that, the market experts remained bullish on the future trajectory of the coin. For context, analyst Crypto Jex has shared a bullish outlook for Pi Coin, predicting a potential price surge to $1.

According to Jex, Pi Network is forming an ABC Recovery Pattern within a key accumulation zone. With an entry zone of $0.64-$0.77 and a stop-loss at $0.60, Jex sets targets of $0.95-$1.00, $1.30-$1.50, and $1.80+ upon trend confirmation. Jex believes a strong liquidation move has led to accumulation, and with volume confirmation, the setup offers solid mid-term upside potential, making a $1 price point achievable.

✓ Share:

Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.