The PI network faces difficult times as the original distinctive code price has recently decreased to less than $ 0.50, and even touching $ 0.40. This sudden fall created a state of panic among the bearers, with many unbelievable to sell or wait for a possible recovery. However, the price has now increased, and gained 6 % in the past 24 hours. Coin Coin is now trading at $ 0.61.
The price decrease comes weeks after a few Pi Core team. Despite the previous promises of the main promotions and the development of the ecosystem, no important updates have been made. This investors foiled and caused a distinctive code price.
Can PI reach $ 10?
Although the price of the PI network has recently decreased to less than one dollar, many societies in society still believe it can reach $ 10 a day. Pi Network has already has more than 70 million registered users (called Pioneers). This is a large number for any encrypted currency. If a small part of this community begins to use PI for daily payments, online shopping or services within the PI, the demand for the distinctive symbol may increase – and when the demand rises, prices are often followed.
Currently, most of the bullous PI symbols are still closed or awaiting deportation. This means that there are not many codes available freely for trading. If the supply remains limited while the demand increases through new applications or commercial partnerships, the price may rise normally over time.
The analyst, Dr. Alcin, said, “In order for PI to be practical in the PI, its price needs to reach at least $ 10.”
Geopolitical factors add pressure
Part of the recent decrease in the encryption market can also be linked to the growing geopolitical tensions, especially the conflict between Israel and Iran. The escalating situation, which included military strikes and leadership losses, achieved uncertainty in global markets, including encryption.
Like other altcoins, PI followed the broader market – but some members of society criticized the distinctive symbol due to the opposite of negative movements without taking advantage of the upward transformations.
