Pi Coin, the cryptocurrency from Pi Network, has soared 80% to $1.29 after a steep 60% drop post-mainnet launch. Peaking at $1.97 on its debut, the token crashed to $0.737 before rebounding, sparking debate about its stability.
CoinMarketCap data shows Pi Coin climbing to $1.52 recently, with a key support level at $1.10. Analysts predict further gains if it holds above this mark, but a dip below could see it test $0.94–$1.00. Despite volatility, strong buying interest signals optimism among investors.
Pi Network’s Growing Reach
Launched in 2019 by Stanford Ph.Ds Nicolas Kokkalis and Chengdiao Fan, Pi Network boasts over 60 million users. Its mobile mining model, which allows users to earn coins with a daily tap, drives its appeal.
In India alone, it’s surpassed 100 million Google Play downloads. Listings on exchanges like OKX, Bitget, and BitMart, plus a $60,000 Bitget airdrop until March 3, fuel global adoption.
Pi Coin faced scepticism at launch. Bybit CEO Ben Zhou labelled it a scam targeting seniors, a claim Pi Network refutes, citing six years of development. Early sell-offs and a broader crypto downturn, including Bitcoin’s decline, also hit its value. Still, its recovery hints at resilience.
Holding above $1.10 could spark an uptrend, but market volatility and doubts linger. The next few weeks will reveal if Pi Coin’s rebound lasts.
