Should You Buy Pi Coin Now? Pi Network (PI) Price Has Been a Topic of Much Discussion

Pi Network (PI) Price has been a topic of much discussion in the crypto world, especially with its recent mainnet launch. After its debut, the Pi initially

Pi Network (PI) Price has been a topic of much discussion in the crypto world, especially with its recent mainnet launch. After its debut, the Pi initially experienced a dip but has shown significant recovery this week.

The price of Pi Coin reached a new ATH after the launch, maintaining a bullish trend despite a slight decline. With its unique mobile phone mining model, there are growing questions about the potential impact of Pi Coin on the crypto market. Should you buy Pi Coin now?

Pi Network Listing Speculation Grows Amid Voting

Pi Coin has yet to secure official exchange listings, leaving its actual value uncertain. Major platforms like Binance (CRYPTO: BNB) and Coinbase (NASDAQ:COIN) have not yet listed Pi Coin, and the project remains in its testnet phase.

While the network has rapidly expanded to achieve millions of users, the full integration of Pi into the blockchain is still pending. Despite the absence of listings, Pi Network has built a strong user base with over 35 M people who mine Pi on mobile devices, contributing to the project's growth. However, concerns remain about the project's long-term viability and whether it can live up to the high expectations placed upon it.

Recently, Binance has been engaged in a poll with users to decide on the next crypto to be listed on the exchange. Among the options presented, "Pi" has emerged as a frontrunner in the vote, which is set to conclude at midnight on Feb. 27. So far, an overwhelming majority of 86% of voters have selected Pi, while the other tokens on the list—Optimism (OP), CELO, and MINA—have received minimal votes.

This poll follows the announcements from both Orderly and Bitget earlier this week regarding the introduction of Pi futures contracts on their platforms. As the final outcome of the Binance poll will determine the exchange's next move, all eyes are on whether Binance will add Pi to its list by tomorrow.

Will Pi Countinue Defying The Crypto Trend?

Pi token, began the last week of February with a bang, surging to a record high of $2.98 on Feb 28 from $0.80 on Feb 16. The price of PI initially went down after its mainnet launch but recovered on Feb 21, accumulating strong momentum for a breakout.

On the 4-hour chart, broke out of an ascending parallel channel, which started on Feb 15, and encountered immediate support twice, forming two large lower wicks.

Despite a slight decline from the new all-time high, PI price is still a standout performer. While BTC, ETH, XRP, and SOL have struggled recently, PI price managed to maintain its bullish momentum.

As the price of PI spiked over 80% in a single day on Feb 26, highlighting the strength of the buyers.

The Relative Strength Index (RSI) stands at 46 on the 4-hour chart, which is neutral.

Should You Buy Pi Coin Now?

The discussion about the price of Pi Token, also known as Pi price, persists as people are still uncertain about its genuineness and sustainable future. People are aware of its unique mobile phone mining model, which is used to mine crypto tokens.

It is also being touted as the ‘world's largest blockchain project.’ People are able to mine Pi on their mobile phones with the help of the Pi Network app, which has been downloaded by over 35 million people.

However, there are concerns about the project's lack of transparency and its practical uses in the real world, considering it is still in the testnet phase.

Those who invested early in Pi Token are showing increasing interest as they anticipate profitable returns from the project. The network has recently gained speed by obtaining key exchange listings from OKX, Bitget, and MEXC.

However, the long-term sustainability and future value of Pi Network remain undefined.

Investors are advised to proceed with caution when dealing with Pi Coin as its potential to succeed in the competitive crypto market is yet to be fully established.