The PI network community is confronted with difficult times, because the price of his native token recently dropped below $ 0.50 and even hit $ 0.40. This sudden fall created panic among holders, with many not sure if they should sell or wait for a possible recovery. However, the price has now been reflected and wins 6%in the last 24 hours. Pi -Munt is now traded at $ 0.61.
The price dip comes after weeks of little progress from the Pi Core team. Despite earlier promises of important upgrades and development of ecosystem, no significant updates have been supplied. This has frustrated investors and stagnated the price of the token.
Can Pi -Price hit $ 10?
Although the price of Pi Network has recently fallen below $ 1, many in the community still believe that it could reach $ 10 in one day. Pi Network has already had more than 70 million registered users (called Pioneers). This is a large number for every cryptocurrency. If even a small part of this community starts to use PI for daily payments, online shopping or services within the Pi -Ecosystem, the demand for token can increase – and when the demand rises, prices often follow.
At the moment most of the mined Pi -Tokens are still locked or are waiting for migration. This means that there are not many tokens that are freely available for trade. If the supply is limited, while demand is increasing through new apps or business partnerships, the price can of course rise higher over time.
Analyst Dr. Altcoin said, “To make PI practical within the Pi -Ecosystem, the price should have to reach at least $ 10.”
Geopolitical factors add pressure
Part of the recent fall in the crypto market can also be linked to the growing geopolitical tensions, in particular the conflict between Israel and Iran. The escalating situation, which includes military strikes and leadership losses, has injected uncertainty in global markets, including crypto.
Like other Altcoins, Pi followed the wider market trend – but some members of the community have criticized the sign for reflecting negative movements without taking advantage of bullish.