Pi Network has recently gained attention in the market after being listed on the BTCC Exchange.
The coin saw a decline to $0.68 in the past 24 hours, with predictions suggesting it might exceed the $1 mark. The listing has piqued investors’ interest, prompting close monitoring based on various market data.
Listing Details
BTCC Exchange announced the addition of Pi Network to spot trading. This development has heightened the search for short-term support among investors.
BTCC Exchange: “Cryptocurrency has been added to spot trading.”
The increasing interest from investors following the listing has led to expectations of changes in trading volumes.
Token Locking and Price Expectations
The rates of token locking have played a significant role in the recent fluctuations of Pi Coin prices. After significant token releases in March, a negative impact was observed in the market. However, the amount of locked tokens reaching 124.32 million in April suggests a potential positive change in supply-demand balance.
Moreover, it is anticipated that locking amounts will increase in May, June, July, and August, while the unique low token release in April could positively reflect on the market. This scenario may contribute to the likelihood of the price reaching $1.
Future Predictions
Market experts believe that the current dynamics may lay the groundwork for short-term recovery. According to expert opinions, significant recovery signals are observed in the fundamental analysis of Pi Network.
Crypto Jex: “Pi Network is forming an ABC Recovery Pattern in a critical accumulation area. Entry price is $0.64-$0.77, with targets of $0.95-$1.00, $1.30-$1.50, and $1.80+ projected.”
As market volatility persists, investors should closely monitor current rates and exercise caution. Keeping a close watch on developments may allow for healthier evaluations of market movements.