Pi Network (PI) is currently undergoing a critical phase, facing a notable loss in value. Since its peak in February, the market value of Pi has decreased by over 45%, currently standing at 11.7 billion dollars, with a fully diluted market value of 164.35 billion dollars. Experts suggest that the global celebration of “Pi Day” (March 14), commemorating the mathematical constant π, could rekindle interest in the altcoin; however, serious risks remain despite potential price increases.
Major Exchanges Resist Listing Pi Coin
Despite its high market value, Pi Network has yet to be listed on major exchanges such as Binance, Coinbase, and Kraken. Although Binance conducted a widely followed survey regarding Pi Coin’s listing, no concrete steps have been taken by the exchange. The lack of liquidity affecting Pi Coin, which has been unable to access the U.S. market via Coinbase and Kraken or enter the South Korean market through Upbit, is intensifying price pressures.
The listing of Pi Coin on major exchanges is crucial as it would significantly boost investor interest and trading volume. However, the exchanges’ reluctance to list the coin is seen as one of the key factors undermining market confidence in the altcoin. Analysts indicate that without news of a listing from any major exchange, it will be challenging for Pi Coin to gain value.
Dangerous Patterns Emerge in Pi Coin Price Chart
Another risk facing Pi Network is the rapid increase in circulating supply. With a total supply of 100 billion coins, only 7.1 billion are currently in circulation, posing a serious dilution risk for the future.
This month, 188 million new Pi Coins are set to be released, with over 1 billion expected by the year’s end, raising concerns among investors. The influx of new coins into circulation could further decrease the market value of the altcoin, making the situation critical.
Technical analysis also indicates negative signals for Pi Coin. Recently, two adverse chart patterns, the head and shoulders formation and the rising wedge pattern, have developed. The emergence of these formations is generally regarded as a precursor to a sharp price decline. Analysts warn that if the current technical indicators persist, the price of Pi Coin could drop below one dollar.
