Pi Coin, a digital asset that has been gaining attention in the cryptocurrency space, is currently experiencing a slump, trading at $1.16 as it tries to recover from a major loss.
Pi Coin, a digital asset that has been gaining attention in the cryptocurrency space, is currently experiencing a slump, trading at $1.16 as it tries to recover from a major loss. The coin has taken a major hit, dropping 31% in the past week, and is now testing crucial support levels.
Key Price Levels to Watch
Currently, Pi Coin is hovering around $1.16, just below the important resistance level at $1.20. The price action in the coming days will likely determine the direction of the coin’s future movement. If the bulls manage to push the coin above the $1.20 resistance, the next target will be the $1.30 mark. However, if the bears maintain control and break the crucial support at $1.10, the coin could continue falling to the next support level at $1.00.
Binance’s Decision and Growing Concerns
To add to Pi Coin’s current struggles, the global cryptocurrency exchange Binance recently made a decision that has further dimmed the hope for the coin’s future. Binance, known for its “Vote to List” campaigns, decided to exclude Pi Network from the latest campaign, which allowed users to vote on which of the nine nominated projects would be listed on the platform. This decision was surprising to many in the crypto community, as they had anticipated the token to be included in the upcoming listing vote.
In an official statement, Binance explained that its “Vote to List” initiative was focused exclusively on projects built on the BNB Smart Chain, which ultimately ruled out Pi Network. “Our Vote to List campaign is focused solely on projects on the BNB Smart Chain,” Binance clarified in a statement.
This exclusion comes at a time when Pi Coin was hoping for more mainstream exposure and listing on major platforms like Coinbase and Binance. Despite the setback, the community continues to rally around the coin, hoping for a swift recovery and perhaps even a reversal of Binance’s decision.
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