Speculations about Pi Network being listed on Binance are mounting, fueled by subtle hints from the exchange. As Pi Network launches a $100 million fund to boost its ecosystem, the Pi Coin is gaining attention. Explore the in-depth analysis now.
After months of speculation, Binance has given a major hint regarding a possible listing of Pi Network. Cryptocurrency enthusiasts are already excited about this potential development.
Indeed, Pi Network users have been eagerly anticipating a listing on Binance for months. Recent events seem to suggest that this anticipation could soon become a reality.
In a recent Facebook post, Binance shared its logo with an enigmatic message, hinting at developers lacking artistic sense. Although this may not seem directly related to Pi Network, observant users quickly noticed subtle Pi symbols integrated into the design.
Meanwhile, Pi Network announced the launch of Pi Network Ventures, a $100 million investment fund aimed at supporting startups and developers building real-world applications using Pi. The goal is to accelerate the adoption and utility of the Pi ecosystem.
The Pi Coin is currently experiencing a more than 32% decrease, trading at $0.85. It recently, however, saw a 90% increase to reach a monthly peak of $1.40 before retracting. To confirm the upward trend, buyers must push the price past the $1 mark.
Furthermore, 13 million Pi tokens will be unlocked on May 15, which could impact market dynamics.
Despite these fluctuations, Pi Coin has shown a 13% increase over the last seven days, indicating sustained interest.
As mentioned earlier, the price has broken the upward trendline, allowing smart money to accumulate.
However, the techical indicator Volume Profile Fixed Range (VPFR) indicates low liquidity between its current price and the demand zone at $0.62. This zone represents the 4H POC, a critical area that will be defended by smart money.
In summary, if PI fails to stay above 72 cents, it will move to this zone to find potential buyers and sufficient volume to reverse the trend.
The token could well bounce back at the 73 cents zone, a price that corresponds to its 20-day moving average.
In case of an increase, the token will attempt to break the resistance at $1.70. With an RSI at 40 and CMF at its lowest, a bullish reversal seems challenging in the short term, but the bottom appears near.
Developments surrounding Pi Network, including signs of a potential listing on Binance and the launch of the investment fund, make it a cryptocurrency to keep a close eye on in the coming days. Informed investors will benefit from staying tuned to the latest information about this ambitious project.
Here is a guide to acquire PI on Weex now while awaiting a listing on Binance:
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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