Pi Network (PI) Price Drops by 10.46%, Trading at $1.41 Ahead of Mainnet Launch

The cryptocurrency market has once again witnessed fluctuations, with Pi Network Coin experiencing a significant 10.46% price drop.

Former President Donald Trump's establishment of the US Crypto Reserve has been a hot topic in the crypto community. The move was assumed to spark increased institutional adoption and capital deployment into digital assets.

However, according to CoinSwitch Market Desk, the market reacted somewhat negatively to the announcement. Investors may have been disappointed that the US did not immediately announce additional capital deployment into cryptocurrencies. This selling pressure contributed to a 10.46% price drop in Pi Network (PI) Coin.

Despite the price decline, which brought PI to $1.41 per coin, trading activity surged. Within a 24-hour period, as of 2:49 PM on Monday, Pi Network’s trading volume spiked by a staggering 101.67%, reaching $994.92 million. The total supply of Pi Network Coin is 100 billion, according to CoinMarketCap.

If Pi Network gains widespread adoption and develops real-world use cases, its price could surge to over $500 by 2030, as per Fortune India. This optimistic prediction is based on the coin becoming a fully functional digital currency used in multiple countries around the world.

In the short term, technical analysts are monitoring the $1.90 resistance level for any signs of a breakout. Market experts from Binance.com suggest that if PI breaks above this level with strong trading volume, it could trigger a bullish rally toward the $10 mark. However, failing to pierce through this threshold could lead to increased selling pressure, pulling the price back down to $1.54.

To sustain bullish momentum, analysts highlight the importance of maintaining support above the $1.74 level. This key price point will determine whether the cryptocurrency establishes a strong upward trend or faces downward pressure in the coming weeks.

As Pi Network gains popularity, it has been listed on several major cryptocurrency exchanges, rendering it more accessible to investors. Currently, Pi Network Coin is available for trading on CoinDCX, where it is being actively traded among investors.

Those interested in purchasing PI can do so by following these steps:

1. Choose a cryptocurrency exchange that lists Pi Network Coin (PI) and create an account.

2. Complete the necessary KYC (Know Your Customer) verification procedures.

3. Select your preferred payment method for funding your account.

4. Search for Pi Network Coin (PI) and place your buy order at the desired price and amount.

With increasing exchange listings and the ongoing efforts to expand investor outreach, Pi Network is expanding its footprint in the fast-growing cryptocurrency market.