Pi Coin Finally Launches on Mainnet After Months of Waiting, But Can It Climb to $2.40?

The token, now trading at INR 150 ($1.80), has been swinging between INR 104 and INR 182, keeping traders on their toes.

Pi Coin's much-anticipated mainnet launch on February 20 has sparked a whirlwind of activity in the crypto world. The token, which began trading at $1.40 (INR 120), surged 30% to $1.67 (INR 144) within an hour, fueled by early holders eager to cash in. At the start of the session, some platforms even showed Pi Coin crossing the $2 (INR 170) mark before crashing back down. But now, the question on everyone's mind is whether the coin can continue to rise and reach INR 200.

Pi Coin's launch was marked by extreme volatility, with the price dropping 42% to INR 75 ($0.90) as early holders rushed to sell their holdings. At one point, the token hit a low of INR 55 ($0.66). However, in a surprising recovery, the token is now back up to INR 150.

The massive buying pressure has pushed Pi Coin's trading volume to $1.12 billion in the last 24 hours, while the estimated market cap has reached $10.75 billion. This shows that the coin is still attracting a lot of interest from investors.

At this rate, Pi Coin is set to cross the INR 200 ($2.40) mark in less than a week if the buying continues and more traders enter the market. However, if investors start to take profits, the momentum could cool off.

To maintain this momentum, Pi Coin needs to secure listings on major exchanges and real-world use cases, but in the volatile crypto market, anything can happen.

While some analysts are hoping to see Pi Coin's return as a sign of long-term viability, others are skeptical and believe that the token is still vulnerable to further drops. The next few days of market sentiment and liquidity will determine whether the token will stabilize or undergo another sharp correction.

For now, INR 200 is on the radar, but traders can expect to endure greater volatility before reaching it.