Pi Network price drops rapidly

(NLDO)- As soon as it was listed, Pi's price fluctuated strongly, falling from 2 USD to 1.2 USD, then increasing slightly and then plummeting again.

Less than 24 hours after officially opening the mainnet and listing on a number of cryptocurrency exchanges, Pi Network has plummeted in price compared to its initial price. As of 7:30 a.m. on February 21, Pi Network or Pi Coin only fluctuated in the range of 0.7-0.8 USD, down about 60% compared to the price of 2 USD at 3:00 p.m. on February 20, the time this token was listed on the exchange.

On OKX exchange, Pi is currently at 0.86 USD; Mexc exchange 0.89 USD/pi and Bitget exchange is 0.87 USD.

Pi Coin price this morning 21-2.

Faced with Pi's decline, many 'Pi holders' expressed disappointment. Mr. Thanh Tan, an office worker in Ho Chi Minh City, who holds nearly 10,000 Pi, said that he thought that Pi's price would increase from 2 USD to 4-5 USD/pi as soon as it was listed on the exchange due to buyers rushing to buy it, but he did not expect Pi to drop sharply below 1 USD.

"It's quite sad to see Pi drop sharply in less than 24 hours. Now Pi has dropped sharply, wondering whether to sell or not. I'm afraid it will drop further, but if I sell it and the price increases again later, it's a pity" - Mr. Tan said.

Similarly, Mr. Hoang, living in Thu Duc City (HCMC) also said he did not expect the price of Pi to quickly plummet, from 2 USD to less than 1 USD.

Pi price on OKX exchange

"When a coin is just listed, the price will tend to increase due to strong purchasing power. Meanwhile, Pi has decreased sharply" - Mr. Hoang shared.

Besides the negative reactions, many "Pi players" in Pi groups are very positive.

Huynh Huy account said Pi price has dropped but if anyone needs to sell, I will close at 1x,000 VND. "Although this price has decreased from 5x,000 VND/pi to 1x,000 VND/pi, this price is still more attractive than the price on the floor."

PH account wrote in the Pi Network group with more than 166,000 members that Bitcoin has gone from 0.01 USD to 100,000 USD.

Pi is expected to drop sharply when it goes public, but it is normal for it to go up to 1,000 USD/pi in the future.

However, according to cryptocurrency experts, cryptocurrency players should not rush to trade Pi coins at this time because it is very risky, because the bottom is not clear. "Be careful when buying Pi at this time because the price cannot be determined. It may continue to decrease in the situation where Pi has dropped sharply since it was listed on the exchange" - this expert said.

In the cryptocurrency market, Bitcoin (BTC) is currently priced at 98,000 USD/BTC, up 1.8% over the past 24 hours, BNB is priced at 653 USD/BNB, Ethereum (ETH) is priced at 2,732 USD/ETH...

Source: https://nld.com.vn/pi-network-tut-gia-khong-phanh-196250221082018321.htm