Pi Network Price Would Go Parabolic In Case of an Upbit Listing

The Pi Network price has plummeted as investors remained concerned about future dilution and the lack of new exchange listings.

The price of Pi Network has gone against the grain this week. It has remained below $1 even as Bitcoin and most altcoins bounced back and the crypto market cap neared $3 trillion.

The Pi coin token has slumped by 70% from its YTD high. So, how high can it get if Upbit lists it?

The price of Pi Network has plummeted as investors remained concerned about future dilution and the lack of new exchange listings.

This year, Pi will unlock over 1.6 billion tokens, and billions more in the next few years, leading to more dilution.

The market is also worried that Pi has not received a major exchange listing since its mainnet launch. It has not received a Binance listing even after its users voted overwhelmingly for that to happen. Most of the Pi trading happens in exchanges like HTX, OKX, and MEXC.

One potential catalyst that would propel Pi Network price higher would be a listing on Upbit. Upbit is one of the biggest crypto exchanges in the industry, handling over $1.8 billion in volume on Monday.

An Upbit listing sometimes leads to more parabolic moves than other exchanges like Coinbase and Kraken. That happens because Upbit is the biggest South Korean crypto exchange, a country where Pi is highly popular. While the numbers have not been made public, one estimate is that the Pi Network app had 1.4 million users in South Korea.

Recently, Orca price shot up 170% in a day after the Upbit listing

If Orca could manage to get listed on Upbit, which led to a 170% rally in a day, then Pi Network would likely surge even higher.

Pi Network would also surge if it was listed by Coinbase, a move that would make it available to US customers.

If the coin was listed on Coinbase Pro, it would likely attract more institutional interest, pushing the price even higher.

Pi Coin Price Prediction: Technical Analysis

While the price of Pi Network has crashed, there are signs that it is preparing for a massive surge soon. That’s because it has slowly formed a falling wedge chart pattern in the past few weeks.

A wedge is a reversal sign with a high degree of accuracy. In this case, the upper line connects the highest levels since February 8, while the lower line connects the lowest points since March 2. These lines are now converging, pointing to more gains, potentially to the all-time high of $3, which is 230% above the current level.

A drop below the support at 0.6120 will cancel the bullish outlook and point to further declines. Such a drop would likely push it to a new all-time low as investors sell in panic.