Key Insights
- Pi Coin has been in the news a lot lately, due to its rapid growth and community updates.
- The Pi network recently extended its KYC deadline to March 14 to allow more users time to migrate their coins.
- Speculation about a possible Binance listing has become very strong, with a recent vote coming in at 86% votes in favor.
- This has led to speculation about a possible $10 price tag for Pi by March or April.
- The future of this cryptocurrency remains to be seen before and after the deadline extension.
Pi Network and the PI cryptocurrency have been making headlines in the crypto industry over the last few months.
Amid its price movements and its user base that continues to grow by the minute, there is now speculation about a possible listing on Binance.
This speculation has only fueled the excitement the more and is leading many to wonder:
Will Pi ever hit the $10 mark? Let’s find out.
Could The Binance Listing Be a Game-Changer?
The speculation about this listing came from a Binance community vote, which saw an impressive 86% of participants supporting a Pi listing.
While this move does not guarantee an automatic pass for the cryptocurrency , it has boosted optimism for the cryptocurrency and its supporters.
Historically, prices tend to soar when a cryptocurrency gets listed on an exchange.
With Binance entering the fold and looking towards listing this cryptocurrency, the optimism for yet another price rally is at an all-time high.
According to insights from crypto analyst Master of Crypto, if Pi does see this Binance listing, its price could skyrocket.
The analyst believes that this event could be a game-changer for Pi Coin, and “a run to $10 is entirely within reach.”
Current Market Performance and Key Price Levels
Pi has shown a great deal of market resilience so far. The cryptocurrency hit a $15 billion market cap recently and has now overshadowed even some well-established altcoins.
As of late February, the cryptocurrency hit an all-time high of $2.98. And even though the price has taken a step backwards from then, it remains trading above the $1.80 support level at the time of writing.
Analysts are watching some key resistance levels closely. As it stands, the cryptocurrency needs to break above the $3.67 price level to experience a push towards $4.2 in the short term.
On the other hand, the cryptocurrency needs to maintain support around $2.10 to avoid a decline towards the $1.5 zone or even lower to $1.
Despite the ongoing fluctuations in Pi’s price, the sentiment remains bullish for the cryptocurrency, with many analysts expecting the Pi to explode further to the upside if the bulls maintain the ongoing momentum.
KYC Deadline Extension
More than price speculation, the Pi Network team recently announced that it was extending its Know Your Customer (KYC) verification.
It is also extending its mainnet migration deadline to March 14, in a move that aligns with the project’s sixth-year anniversary.
Pi aims to give more users time to verify their accounts and migrate their balances before the windows close.
The Pi team emphasized that the project itself needs verified users to succeed.
However, failure to complete KYC before the deadline passes could lead to a permanent loss of funds.
With more users completing their verification, investment in Pi could grow and strengthen its market position.
Will Pi Coin Hit $10 in March?
Some analysts predict a price of around $5 for Pi by April. However, others believe that a Binance listing could push it even higher.
This means that a price of around $8 to $10 isn’t completely out of the works.
However, despite the optimism, there are still several factors to consider, including volatility, the uncertainty of the Binance listing, regulatory concerns, as well as several other factors that come into play.
According to analysts, the market is reacting mostly to speculation. The hourly charts are showing signs of a possible breakout, and Pi could be on the verge of another explosion.
Despite the few challenges that Pi Coin has had to navigate, its recognition continues to increase.
The cryptocurrency recently secured a spot on CoinMarketCap’s rankings, with a market cap of over $12 billion.
The cryptocurrency continues to expand its circulating supply, which has grown by 9.5% since the launch of its mainnet on 20 February.
The Pi network app also has over 113.2 million downloads on the Google Play Store alone.
What More Ways Could Pi Expand?
One of the biggest ways that Pi Coin could expand from here is if it continues to expand as a medium of exchange.
Many merchants and platforms have started accepting the cryptocurrency for payments.
The adoption of this cryptocurrency is becoming more widespread by the minute, indicating that the world is becoming confident of the Pi network’s ability to handle transactions.
The Binance listing could be a major factor in how far the price of Pi grows.
However, the outcome of the KYC deadline will also be a determining factor in how credible the network will be over the long term.
As the community continues to expand, all eyes remain on the 14 March deadline and whether it results in this explosion towards $10 or not.
