The price of the PI network was destroyed: 5 reasons for the lack of a failure of the PI
The price of the PI network collapsed after its peak at 3 dollars in February shortly after the launch of Mainnet. The Coin Coin icon has been destroyed to the current $ 0.65, a decrease of 78 % of its highest level ever. This incident was erased billions of value, as the maximum market decreased from more than $ 13 billion to less than 4 billion dollars. This article explains why it is risky to the short PI coin.
The price of the PI network can rise in the case of the exchange menu
The abbreviation is a process that investors and traders seek to benefit from decreased assets. The practical approach is the place where one borrows an encrypted currency, sells it, then buys it later at a lower price and answers the difference.
The abbreviation is more dangerous than buying origin because its price can rise indefinitely in a process known as short pressure. For example, if you borrow the PI network at the current price of $ 0.67 and rise to 10 dollars, you will have a loss of $ 9.33 per code.
The main reason for avoiding the PI network is that it may undergo short pressure if it receives an exchange menu. This is noticeable because PI, despite its large size, is only included in a handful of exchanges like OKX and Mexc.
Therefore, there is a field for major exchange lists, especially companies such as Binance, HTX, Coinbase and Upbit. This step is likely to lead to great short pressure, as we have seen in the past few months.
For example, the price of Orca jumped more than 200 % in one day after being included by Upbit. As we wrote previously, Deepbook Price also increased by more than 150 % after being included by Upbit and Binance futures.
Pi Network is a more popular currency than OCA and Deepbook, which means that an increase of 500 % cannot be excluded.
PI Coin has a history of short strikes
While the Pi Network Mainnet was launched in February, investors managed to trade IOU. These IUS are the symbols created in 2021 by some stock exchanges to give investors exposure to the distinctive symbol. They were not affiliated with the basic team and had a low size.
History shows that these symbols were regularly containing short taxes. For example, those listed by HTX increased from less than $ 30 in October to $ 99 in November, a 172 % increase. Then he decreased to less than $ 50, then rose to nearly 90 dollars.
As the PI Network price decreases, it only needs a small spark to coordinate it sharply from the current level.
Coming to encrypt the bull running
Moreover, the price of the PI network may benefit if there is a bull encryption. There are early signs that this operation will happen soon. Bitcoin jumped to 94,000 dollars for the first time in more than a month, while the maximum market for all cryptocurrencies is approaching $ 3 trillion.
Analysts hope to start bull, as recorded legal experts expect the highest level ever in Bitcoin.
A possible catalyst for the market gathering in the encryption market is that Trump said he is not planning to launch Jerome Powell. Trump also hinted that he is ready to speak with China about plans to solve commercial skirmishes. Such a step will lead to more flows from investors.
PI may eat the distinctive symbol
Another main reason behind increasing the PI network is that developers may treat the distinctive symbol. There are signs that developers have begun to purchase their distinctive symbols, as Dr. Altcoin noted.
Also, there is a possibility that the PI network will burn most uncomfortable codes as soon as the Kyc process ends. Such a step will help address the constant mitigation risk facing the network as billions of symbols are about to access the Internet.
Pi Coin PRICE double bottom
Finally, there are signs that the price of PI metal currency has reached the bottom. It has formed a double -bottom pattern at $ 0.5860, with a neckline at $ 0.7767, the highest point on April 17.
This style is one of the most popular signs of oud. This means that the distinctive symbol may rise soon, with an initial point of up to $ 0.7767. The step is higher than this level to more gains, and perhaps to the highest level ever at $ 3.
