Pi coin price will be in the spotlight this week as the mainnet launch happen, followed by numerous exchange listings. The most notable one will be on Binance, the biggest cryptocurrency exchange that is running a Pi Network voting poll on whether it should list it. So, how high will Pi get after that listing?
Binance Pi Network Voting Poll is Going On
Binance is running a community poll on whether it should list Pi Network, the viral tap-to-earn token. According to its website, anyone with at least $5 in Binance can participate in the poll, which runs until September 27.
While the poll closing date has a long way to go, initial data shows that most users support the listing. 85% of them support it, while 15% have opposed it. The vote had over 4 million views and over 12.7k comments, a sign of how popular the coin is.
Most supporters on the comment section argue that Pi Network is a real project with a lot of potential. On the other hand, most people who voted against Pi getting a Binance listing argued that it is a scam project. In a note, a popular analyst told Coingape:
“A Binance listing would be a big deal for the Pi Network because of its scale. Binance is the biggest player in the crypto industry, with millions of users and billions of daily volume.”
Big Exchanges Have Confirmed Pi Listing
Most crypto exchanges have confirmed that they will list Pi Network when the mainnet launch happens this week. OKX was the first one to accept to list it. Others like HTX, Gate.io, and MEXC have confirmed that they will list it.
Bybit, a major exchange handling over $5.5 billion in volume in the last 24 hours, has said it will not list it. Other popular exchanges like Coinbase and Kraken have not confirmed whether they will list Pi Network.
How High Can Pi Coin Price Rise After Binance Listing
It is not possible to predict where the Pi coin price will get to after the Binance listing since details about its listing have not been revealed. Also, the Binance listing will happen many days after the mainnet launch, meaning that it will be priced in by market participants.
The Pi Network price IoU offered by BitMart surged to $200 after the mainnet launch was confirmed last week. It then crashed to $70, possibly as investors waited for the real deal on February 20. It also dropped below the key support at $88.65, its highest swing in October and November last year.
Pi coin remains above the 100-day Exponential Moving Average (EMA), meaning that a rebound is possible. If this happens, the initial target to watch will be at $136.30, the highest swing in March 2024. A break above that level will point to more gains, potentially to this month’s high of $200.
The alternate scenario is where the Pi Network token crashes below the 50-day moving average and then to the support at $33.82.
Frequently Asked Questions (FAQs)
A Binance listing will likely not have a major impact on the Pi coin price since market participants will have priced in it because of the ongoing poll.
The Pi price will likely fall after the mainnet launch as many pioneers will want to sell. A similar dump has happened among other tap-to-earn tokens like Hamster Kombat and Tapswap.
The current results of the ongoing Pi Network voting poll is 85% for a Binance listing and 15% against the listing.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/pi-network-voting-poll-how-high-can-pi-coin-price-get-ahead-of-binance-listing/
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