Pi Coin Faces Make-or-Break Moment – Can It Survive the Sell-Off? Simon Chandler | usagoldmines.com

Pi Coin has jumped by 21% in the past 24 hours, with its leap to $1.67 coming on a day when the crypto market as a whole has dipped by 0.5%.

PI does remain down by 13% in a week and by 45% since reaching an ATH of $2.99 on February 26, yet its strong recovery today suggests that it has broken out of its recent downwards trend.

And while the wider market is still sensitive to ongoing tariff issues, Pi Coin’s growing popularity gives it a very strong chance of rallying again soon.

This is particularly the case if it attracts new exchange listings, which could propel it to new levels.

Pi Coin Faces Make-or-Break Moment – Can It Survive the Sell-Off?

Pi Coin’s chart is interesting today, since not only does it show a big uplift in momentum, but it also suggests that there’s space for further gains in the near term.

So while PI’s RSI (purple) hit 80 earlier this morning and has dipped a bit, its 30-period average (orange) has only just begun rising towards the 200-period average (blue), indicating that it still hasn’t entered an overbought position.

It’s also encouraging that the token’s 24-hour trading volume has risen from only $350 million a few hours ago to around $630 million as of writing.

One of the interesting features of PI’s rise to fame is that it appears to have happened without any major buys from whales, with the main tracking accounts – such as Whale Alert, Lookonchain and Spot On Chain – reporting no large PI purchases since its mainnet went live on February 20.

This perhaps chimes with Pi Network’s status as a coin that’s mined by its users via their smartphones, making it arguably more of a bottom-up rather than top-down crypto.

However, the reason why whales may be steering clear of Pi Coin is that they fear its unlock schedule could suppress its price, with the token’s protocol set to release 249.7 million PI in the next month.

This goes to regular users, who may be more prone to selling quickly than the validators (e.g. miners, large-scale staking pools) of other tokens.

On the other hand, Pi Coin remains very new and, as such, it has future exchange listings to look forward to, including from the likes of Binance, Kraken and Coinbase.

Assuming that any of these platforms list PI in the next few days or weeks, it could easily return $2 or even $3.

Trending New Alts with Stronger Fundamentals

While Pi Coin continues to show considerable momentum, its detractors have described it as a big Ponzi, so some traders may be wary that it may collapse before long.

However, there are other new coins in the market that have stronger fundamentals, and that therefore have more potential staying power.

One of these is MIND of Pepe (MIND), an ERC-20 cryptocurrency that has raised an impressive $7.2 million in its snowballing presale.

MIND of Pepe is attracting attention because it’s about to launch an autonomous AI agent, which will scan masses of social and market data to produce market analysis and advice.

On top of this, it will use big data to identify trends it will then tap into in order to generate its own meme coins, which will then list on exchanges and potentially rally in their own right.

And what’s bullish about its native token, MIND, is that it will be necessary to access MIND of Pepe’s advice and analysis, while the coin will also grant early access to the tokens it creates, before they go on exchanges..

MIND could therefore attract substantial demand, with the coin also open to staking.

MIND is currently selling at $0.0034955, with investors able to buy it early at the MIND of Pepe website.

Its X account currently boasts 20,000 followers, providing an early sign of how popular it could become once it launches.

The post Pi Coin Faces Make-or-Break Moment – Can It Survive the Sell-Off? appeared first on Cryptonews.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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