Race To Zero? Pi To Sub A DollarPi, the coin that drew a line between the haters and believers. We've seen Pi rise then fall on the first trading days, then a massive recovery to almost $3, but now its been going straight down. We must also note that BTC is down 13.5% in a month, while Pi is down 60% from all time highs, but 70% from the lows of $0.60. What could be causing this?
Cons
- Binance Listing hasn't came to light after the community poll wanted them to list Pi.
-Core has been selling Pi, now speculation was for Pi listing on Binance, but at this time its unknown what the funds are for.
-Pi domains hasn't been received well and imo isn't needed, since the payment is open source and amazon doesn't need a pi domain to add payments. Only bringing this up since someone bid for amazon pi domain for 30k pi, which was about 42,000 at the time roughly.
-Bitcoin is also down, which is causing crypto markets to crash.
-Tariff wars bringing global markets down.
-PiCore team roadmap is unknown whats next.
-From Reddit, many applications are stuck in verifying process which is limiting the use of the Pi browser.
-More unlocked Pi is hitting the market every couple weeks.
Pros
-User base keeps growing, which the "mining" rate got cut
-Transaction speeds are instant
Trading Zones
Now Trading zones are interesting, but with it going down, its catching a falling knife. Pionex grid trading doesn't work, since the volitily is down and then it drys up. With current price range, 1.14 would be support, but its dipping under creating resistance. EMA's are down and heading towards bearish. Next target is $0.90 then it drops to the trading range of 0.60-0.74 .
Final Thoughts
I'm personally sold out, but have over 3k Pi locked from 3 years. I may rebuy Pi under a dollar or if it stabilizes in its price. I moved to Solona for the time being, but if BTC crashes again it might be best to stick with USDT or a stable coin and wait till Wednesday for JPowel to see what hes going to stay.
