Pi Network Coin Drops Over 10% In One Day; Why Is It Falling?

Pi Network Coin dropped by 10.46% to $1.41 despite the US Crypto Reserve establishment. Experts predict it could exceed $500 by 2030 if widely accepted.

Coin Analysis: Pi Network Coin Drops Over 10% In One Day- Why Is It Falling?

Pi Network Coin, which is the latest cryptocurrency to hit the market, on Monday dropped by 10.46 per cent to $1.41 per coin. The decline in rates comes despite the Donald Trump established the US Crypto Reserve.

According to CoinSwitch Market Desk, the market reaction to the news of the US Crypto Reserve was a bit negative as people were expecting the US to deploy fresh capital to cryptos.

Also Read: US Crypto Reserve: Donald Trump Announces Establishment Of US Crypto Reserve In A Bid To Safeguard National Interest

As of 2:49 pm on Monday, the 24-hour trading volume was up by nearly 101.67 per cent to $994.92,37 million, with a total supply of 100 billion PI, according to coinmarketcap.com.

Pi Network Price Prediction Mainnet Launch

According to Fortune India, if Pi Network evolves into a widely accepted digital currency with real-world use cases, its price could exceed $500 by 2030.

Experts also predicted that if the price of PI breaks above the $1.90 level with strong volume, a rally toward $10 could follow, according to binance.com.

They warn that if it fails to break the level, selling pressure could pull the price downwards strongly to a low of $1.54.They also point out that bulls must hold support above $1.74 to confirm a bullish breakout. The current price of PI stands at least 1.06% below the key level of $1.90, it added.

How To Buy?

The Pi Network Coin is now listed on major exchanges like CoinDCX, OKX, and Bitget. Users need to install any of the app, complete KYC, and add money to the app’s wallet to buy the crypto.

Bitcoin Price Movement

The Bitcoin prices dropped after a disappointing move on Trump’s Strategic Bitcoin Reserve order amid the ongoing tariff disputes. However, the markets tend to recover as the long-term prospects appear to be extremely bullish.

According to CoinDCX Reseacrch Team, After another bearish weekend, the crypto markets are trying to restore strength while the bulls remain uncertain. As a result, the prices of most of the cryptos have rebounded from the monthly lows but the fear of another pullback hovers over the markets.