Is Pi Coin Dying? Should You Sell?
The post Is Pi Coin Dying? Should You Sell? appeared on BitcoinEthereumNews.com. Pi Network price is gaining today, May 1, with a 6% surge in the last 24 hours to trade at $0.618 at press time. Despite the recent gain, PI has shed 79% of its value since hitting an all-time high in February this year amid a lack of new exchange listings and a lack of utility. This underperformance and lack of robust fundamentals have traders questioning whether Pi Coin is dying and whether now is the right time to sell. Pi Network Price Struggles – Time to Sell? Despite the recent bounce in price, Pi Network remains at risk of a downtrend, as two analysts shared skewed bearish sentiments suggesting the project may be dying. Per analyst Clark on X, Pi Coin will struggle due to minimal utility, few exchange listings and a lack of liquidity. Another analyst, dubbed 0xkeith, also noted that PI is dying, and it is only a matter of time before selling activity surges after breaching a descending trendline. The Binance exchange, which the PI community expected to offer a lifeline for the token, has steered clear of this new coin, which has also played a role in dampening investor confidence. Moreover, despite speculations that HTX may list Pi Network, the exchange has not made an official announcement. The delayed exchange listings have limited access to new buyers, which has led to the price of Pi Network stagnating and forming lower lows. Lastly, traders may also consider selling Pi Coin because of a lack of speculative activity that suggests a lack of conviction among futures traders about its short-term price movements. Data from Coinanalyze shows that Pi Network’s open interest stands at $16M, and has never made a meaningful increase since launch. PI Open Interest Considering these factors, it is clear that the Pi Network price…
The post Is Pi Coin Dying? Should You Sell? appeared on BitcoinEthereumNews.com.
Pi Network price is gaining today, May 1, with a 6% surge in the last 24 hours to trade at $0.618 at press time. Despite the recent gain, PI has shed 79% of its value since hitting an all-time high in February this year amid a lack of new exchange listings and a lack of utility. This underperformance and lack of robust fundamentals have traders questioning whether Pi Coin is dying and whether now is the right time to sell. Pi Network Price Struggles – Time to Sell? Despite the recent bounce in price, Pi Network remains at risk of a downtrend, as two analysts shared skewed bearish sentiments suggesting the project may be dying. Per analyst Clark on X, Pi Coin will struggle due to minimal utility, few exchange listings and a lack of liquidity. Another analyst, dubbed 0xkeith, also noted that PI is dying, and it is only a matter of time before selling activity surges after breaching a descending trendline. The Binance exchange, which the PI community expected to offer a lifeline for the token, has steered clear of this new coin, which has also played a role in dampening investor confidence. Moreover, despite speculations that HTX may list Pi Network, the exchange has not made an official announcement. The delayed exchange listings have limited access to new buyers, which has led to the price of Pi Network stagnating and forming lower lows. Lastly, traders may also consider selling Pi Coin because of a lack of speculative activity that suggests a lack of conviction among futures traders about its short-term price movements. Data from Coinanalyze shows that Pi Network’s open interest stands at $16M, and has never made a meaningful increase since launch. PI Open Interest Considering these factors, it is clear that the Pi Network price…
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