WEBDESK: Crypto PI Coin is again in the spotlight as its price has remained flat over the past week. It’s currently trading at around $0.63 with its price seeing a significant drop from February’s post-mainnet launch price of $3. While the cryptocurrency briefly climbed to $0.78, it failed to hold that level and is now struggling to stay above $0.60.
Analysts note that PI had previously formed a falling wedge pattern – a typically bullish signal – followed by a temporary price surge.
Experts say that if Pi Coin doesn’t bounce back from the $0.6040 level, it could fall further to around $0.40. However, a recovery at this level could give it a boost back toward $1. Investors are keeping a close watch to see whether a double-bottom chart pattern might signal a positive turnaround.
Pi Coin has a strong community, especially in countries like Nigeria, India, and Vietnam. Many users mine the coin on their phones and hope it becomes a major player in the crypto world. This excitement has sparked talk about a possible Pi Coin Exchange-Traded Fund (ETF), similar to recent ETFs approved for Bitcoin and Ethereum.
However, a Pi Coin ETF is unlikely in the near future. because it lacks the market size, volume, and regulatory standing needed to qualify for an ETF.
The current hope and buzz seems to be driven by community enthusiasm rather than official developments. However, financial experts caution that enthusiasm alone may not be enough to overcome the substantial regulatory barriers ahead.
