Pi Coin price declined on Monday, continuing with its oscillation as it struggles to find stable footing after a much-anticipated launch last week. The coin was down by 3.0% and traded at $1.49 at the time of writing. This was in contrast with the previous two days, during which Pi rose by more than 100%. Pi is under selling pressure as investors seek to stay on the safe side after a prolonged wait for open mainnet launch.
Many investors are concerned that Pi Coin could follow the trajectory seen in other tap-to-earn coins like Notcoin, BabyDoge and Hamster Kombat. Pi is currently listed on exchanges like OKX, BitGet, GateIO, Pionex and more exchanges could join in the coming days. Binance’s is the most anticipated listing, and that is likely to happen following last week’s community voting that saw more than 80% support the listing.
On the downside, however, Bibyt might have muddied the waters for Pi Coin. The exchange’s CEO, Ben Zhou, reiterated his stand that the coin is a scam and stated that Bybit will not list it.
The Pi Core Team has refuted the accusations, but such negative publicity from the world’s second-largest exchange will weigh down on Pi Coin price. However, Pi Network’s wide ecosystem could help keep the coin on the upward trajectory if its apps experience high user activity.
Pi Coin Price Prediction
Pi coin price pivot is at $1.60 and the downside will prevail if resistance persists at that level. Initial support will likely be at $1.45, but a stronger momentum will break below that level and potentially test the second support at $1.29.
On the other hand, breaking above $1.45 will shift the momentum to the upside. With the buyers in control, PIUSD is likely to continue rising and encounter the first resistance at $1.70. Breaking above that level will invalidate the downside thesis and could potentially trigger more gains to test the second resistance at $1.80.
