Pi Network price jumped this week: Is it a good coin to buy now?

Pi Network price has been in a strong uptrend this week as investors bought the dip and cheered the rumors of its ISO certification. It rose to a high of $0">Copy link

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However, Invezz could not independently verify this information as a message to the team was not replied to at press time.

Third, Pi Network price rose after forming the highly bullish falling wedge pattern on the daily chart. This pattern is made up of two descending and converging trendlines, with a bullish breakout happening when the two lines near their confluence.

Pi Network price chart | Source: TradingView

Additionally, some analysts warned that the Pi Network price rally was due to market manipulation. One analyst identified some unusual flows of tokens in exchanges like OKX and Gate. Again, Invezz could not verify this at press time.

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The Pi Network price also jumped as the number of pioneers passing the KYC verification jumped after the team incorporated new tools to speed the process.

Is Pi Coin a good token to buy?

Pi Network is a high-risk and high-reward token. Its high risk comes from the fact that it has not achieved its original goal of creating a universal payment solution better than Bitcoin.

Pi Network has a small and relatively inactive ecosystem, unlocks millions of tokens a day, is highly centralized, has no roadmap, and is not listed by exchanges like Binance and Coinbase.

These major challenges are also the biggest opportunities that may lead to a Pi Network price surge. For example, there is a slim chance that at least one major crypto exchange will list it, a move that would push it up by double or triple digits.

Additionally, the developers can announce a major token burn event to offset the ongoing token unlocks. Such a move would be bullish as we saw with the recent OKB price surge.

Pi Network price would also surge if the developers came up with a roadmap and a strategy to fuel decentralization. In the current phase, the network is highly centralized, with the obscure Pi Network Foundation controlling over 90 billion tokens. A commitment to decentralization would likely push it higher by raising the odds of more exchange listings.

The post Pi Network price jumped this week: Is it a good coin to buy now? appeared first on Invezz

Pi Network price jumped this week: Is it a good coin to buy now?

Is Pi Coin a good token to buy?

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