TLDR

Pi Network price increased by 2% amid broader crypto market recovery
Expert Kim H Wong predicts potential rally citing exchange listings, merchant partnerships, and ecosystem advancements
Pi Network’s followers on X have reached 4.3 million, approaching Dogecoin’s community size
Pi was excluded from Binance’s “Vote to List” program as it operates on its own blockchain
Community sentiment poll on CoinMarketCap dropped 90% in a day, with allegations of bot manipulation

Pi Network (PI) is making headlines with its recent price movements and community developments. The cryptocurrency, which launched on February 20, has experienced both ups and downs as it establishes itself in the market. Recent expert analysis suggests potential growth ahead, though challenges remain.

Pi Network price increased by nearly 2% today, trading at $1.17. This modest gain comes amid a broader cryptocurrency market recovery. The 24-hour trading volume reached $370 million, showing substantial market activity.

Pi Network
PI Price

Pi has maintained a trading range between $1.12 and $1.2 over the past day. Despite the recent uptick, the cryptocurrency has lost approximately 31% of its value over the past week. This volatility has left many investors uncertain about future price movements.

Analyst Kim H Wong has shared an optimistic outlook for Pi Network. Wong points out that since its debut last month, Pi has traded between $0.6 and $3, with current prices hovering around the $1.1 mark.

After listed for trading on February 20,2025, Pi coin has been trading between $0.60 and $3 and is now trading around $1.15 with support at $1.05. After this initial boom and bust, Pi coin is going to trade as a regular crypto and is now waiting for news to drive its price. Of… pic.twitter.com/FNz70GuSoO

— Kim H Wong (@Time_and_Trade) March 19, 2025

Wong attributes the initial price surge to market volatility and growing interest in the token. However, he notes that a lack of major announcements from the Pi team has contributed to price instability. The absence of news-driven catalysts has made it difficult for the cryptocurrency to maintain upward momentum.

Several developments could drive Pi Network’s price higher according to Wong. Potential listings on major exchanges tops the list of positive catalysts. Merchant partnership announcements could also boost adoption and value.

Ecosystem Advancements

Ecosystem advancements represent another growth factor. The Pi team recently introduced two-factor authentication (2FA) for users. This security upgrade aims to ensure a secure migration to the mainnet, potentially boosting trader confidence.

The introduction of the Domains tab in the Pi Browser has generated interest. These domains can serve as digital addresses for Pi-based websites, apps, or services. This development could enable a more robust Web3-focused ecosystem.

The domain auction process reduces Pi’s circulating supply. This reduction could boost its value over time by creating scarcity. With nearly 70 million registered users, including 20 million identity-verified Pioneers, the community shows strong growth potential.

Real-world adoption is starting to emerge for Pi Network. A leading US real estate firm has begun accepting Pi as payment. This practical use case could help establish Pi’s utility beyond speculative trading.

Binance Listing?

Despite these positive factors, Pi Network faces challenges with Binance, the world’s largest cryptocurrency exchange. Pi was excluded from Binance’s new “Vote to List” initiative. This exclusion disappointed many Pi enthusiasts who hoped for a major exchange listing.

The reason for Pi’s exclusion lies in its blockchain structure. To be eligible for Binance’s program, projects must be hosted on the BNB Smart Chain network. Pi Network operates on its own blockchain, making it ineligible for this particular initiative.

A concerning development for Pi Network involves an upcoming token unlock. According to PiScan data, 21.2 million Pi Coins worth $42.39 million are scheduled to unlock on March 21. This increased supply could put pressure on the price.

The unlock schedule extends further, with 1.6 billion Pi worth $1.88 billion scheduled to enter circulation over the next 12 months. These heavy unlocks could impact Pi Network’s price unless offset by positive developments.

Pi Network has also faced controversy regarding community sentiment measurements. A sudden 90% drop in Pi’s community sentiment poll on CoinMarketCap led to allegations of bot manipulation. Users noted that the poll had more participants than Bitcoin’s, raising suspicions about the validity of the voting process.

Despite these challenges, Pi Network’s social media presence continues to grow. The project’s X followers have reached 4.3 million, approaching the community size of established meme coin Dogecoin. This expanding community could support recovery and growth in the coming months.

The post Pi Network (PI) Price: Expert Predicts Rally Despite 31% Weekly Drop appeared first on CoinCentral.

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Filed under: News - @ March 20, 2025 9:15 am