- Pi Network (PI) has dropped over 42% in the last 24 hours following its mainnet launch, driven by early adopters taking profits and concerns over the project's legitimacy.
- PI has secured listings on OKX, Bitget, MEXC, and Gate.io, but a potential Binance listing could be a major catalyst for recovery.
- A Binance community poll shows 85% support for listing PI, and historically Binance tends to prioritize tokens with high user demand.
- PI is currently trading at $0.67 after bouncing from $0.60 support, with potential recovery towards $0.93 resistance if support holds.
Date: Fri, February 21, 2025 | 10:51 AM GMT
Following the much-anticipated mainnet launch of Pi Network (PI), the cryptocurrency has experienced a significant price decline, dropping over 42% in the last 24 hours.
This sell-off appears to be driven by early adopters, commonly referred to as pioneers, who have been mining PI for years and are now taking profits. Additionally, concerns over the project’s legitimacy have added to the selling pressure.
Could This Listing Factor Spark a Recovery?
Despite the downturn, there is a major catalyst that could trigger a recovery: exchange listings. PI has already secured listings on multiple well-known exchanges, including OKX, Bitget, MEXC, and Gate.io. However, one major exchange remains absent from this list—Binance.
Currently, Binance has launched a community poll asking users whether they want PI to be listed on the platform. The response has been overwhelmingly positive, with approximately 85% of participants voting in favor of the listing.
Historically, Binance has shown a tendency to prioritize tokens with high user demand. If PI is officially listed, it could experience a major price surge due to increased liquidity and exposure to millions of new traders.
However, it is essential to note that there is no guarantee that Binance will list PI. Investors should remain cautious and avoid making decisions based solely on speculation.
What’s Next for PI?
Looking at the 30-minute chart, PI is currently trading at $0.67, managing to hold a key support zone after bouncing from a low of $0.60. If the support holds, a potential recovery could push PI towards its next resistance level at $0.93.
However, failure to maintain this support could lead to another decline, putting further pressure on the price.
Final Thoughts
While PI have faced significant decline, the possibility of a Binance listing could provide a much-needed boost. Traders and investors should closely monitor upcoming developments, particularly any official announcements regarding exchange listings, to gauge the future price direction of PI.
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