Pi Network (PI) Price on Track to Reclaim the $1.2 Level, with Key Performance Metrics in Green

Market analyst MOON JEFF on social media platform X says PI could hit this level if it holds $0.8 as support.

The price of Pi Network (PI) is on track to reclaim the $1.2 level as key performance metrics for the token come in green.

According to market analysis from crypto analyst MOON JEFF on X (formerly Twitter), PI could hit this level if it manages to hold $0.8 as support.

Other factors that could support the future PI rally include the collaboration with startups and the potential launch of a token on top crypto exchanges like Binance.

Key PI Price Performance Metrics In Green

As of press time, PI was trading at $0.93, registering a 24-hour price gain of 4.8%. While this daily price growth rate is a positive metric, the weekly surge tells a more ambitious story.

In the past week, PI shot up by an outstanding 25%. This factor is crucial as it shows the magnitude of buying pressure currently in the market.

At the same time, the relative strength index (RSI) on the 14-day time frame is currently at 64.3, indicating that the token is still in the buy zone.

According to MOON JEFF, PI might see a pump towards $1.2 or even higher before another retrenchment.

“#PInv will announce a $100 million fund, held jointly in Pi and USD, to invest in startups and businesses that are advancing the utility and real-world adoption of Pi. This is a great development that will fuel future ecosystem growth,” he noted.

Moreover, speculations are running high that Binance will soon list PI on its exchange. These speculations gained momentum after Binance made a cryptic announcement on its X handle, hinting at a PI launch. Binance posted its logo with the Pi symbol.

“We're feeling generous today. Which token would you like to see listed next on Binance?” Binance asked its followers.

Major exchanges, including OKX, Bitget, MEXC, HTX, and Gate.io, have already added support for Pi trading.

Therefore, a listing on the Binance exchange will add credibility to the coin. The price is expected to shoot higher as support and adoption for PI increase.

In addition, there are increasing discussions about reducing the circulating supply by burning tokens. This move may form a favorable supply and demand pattern for PI.

Data from the Pi scan reveals that the team intends to unlock 272,212,590.14 tokens out of the total 5,180,560,834.16 coins locked so far. At current prices, the total value of the tokens to be unlocked is about $253 million.

The post Key Performance Metrics For Pi Network (PI) Come In Green As Token Reclaims $1.2 Level Is On The Cards appeared first on Benzinga.