Pi Network’s ‘Wild’ Launch: 726% Gains, Sharp Drops, and a Strong Comeback
The post Pi Network’s ‘Wild’ Launch: 726% Gains, Sharp Drops, and a Strong Comeback appeared first on Coinpedia Fintech News
Pi Network’s launch was one of the biggest events in the crypto industry last week. On February 20, the day of its official debut, PI’s price surged an incredible 726%. But as early adopters rushed to take profits, the market closed 60.89% below its peak. The next day, the decline continued, with PI falling nearly 18.24%. However, the market quickly rebounded, gaining 115.66% between February 22 and 23.
Here’s a closer look at this price action.
Pi Network’s Price Surge and Pullback
On February 20, PI officially launched, starting the day at $0.105. It soared to $2.203 before dropping to $0.8726 by the end of the day—a sharp 60.89% decline from its high.
Analysts believe the initial sell-off was caused by early adopters cashing out their holdings.
The selling pressure continued on February 21, pushing PI down from $0.8726 to $0.7173, marking an 18.24% daily loss.
Strong Recovery as Bulls Step In
On February 22, PI showed its first sign of recovery, recording a 79.18% gain in a single day. Since then, the market has surged about 113.03%.
As of now, PI is trading at $1.5318, showing renewed bullish momentum.
PI Technical Analysis Suggests Uptrend
Technical analysis points to further price gains. PI’s Relative Strength Index (RSI) on the four-hour chart is at 57.81, indicating strong potential for upward movement.
The Balance of Power (BoP) indicator stands at 0.41, supporting the bullish trend. Additionally, PI is trading above an ascending trendline, which signals continued strength.
Binance Listing Vote: What Happened?
Last week, Binance held a vote asking users if PI should be listed. The results were overwhelmingly positive, with nearly 86% in favor.
If Binance lists PI, its price could see a significant jump.
Where is PI Headed Next?
Analysts predict that if demand remains high, PI could rise to $2. However, if profit-taking increases, the price may fall below $1.60, potentially dipping to $1.34.
With its strong price action and growing community interest, PI is shaping up to be a token to watch in the coming days.
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