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Pi Network News: Pi Coin Price To Drop By 50% – Two Possible Reasons Behind It
The price of Pi Coin has been plummeting drastically in recent times, and experts predict that it may drop by a staggering 50%. This massive decline is attributed to two primary factors that have led to this precarious situation.
Firstly, the impending influx of over 100 million new Pi tokens hitting the market. This colossal number is expected to further put pressure on the already struggling coin’s price. The fundamental principle of supply and demand dictates that when there is an oversupply of a product or service, its value naturally decreases in response to the increased availability.
In conjunction with this, experts believe that the current lack of listings on prominent exchanges such as Binance and Coinbase has stifled demand for the cryptocurrency. As a result, the coin’s price may continue to plummet due to the scarcity of buyers willing to invest in Pi Coin.
As Dr. Altcoin, a renowned crypto analyst, points out: “The available circulating supply dictates the price of Pi since Price = Demand/Supply. The current situation is unsustainable and will likely lead to a further decline.”
It has been reported that in the past few days alone, the coin has lost nearly 20% of its value, a significant drop that could continue if these circumstances are not addressed.
Pi Coin’s price is currently trading at around $0.61, which is approximately 400% lower than its all-time high.
Source: https://coinpedia.org/news/pi-network-news-pi-coin-price-to-drop-by-50-two-possible-reasons-behind-it/
