Despite the stagnant air dominant throughout the crypto money market Pi NetworkPi Coin’s value of more than 20 percent today began to be traded for $ 0.64. The highest level reached during the day was recorded at 0.701 dollars. While the sudden rise in the price attracts the attention of investors, the harsh increase in daily transaction volume supports this movement. When entering the weekend, Pi Coin’s transaction volume approached $ 1 billion.
The transaction volume left Cardano behind
Pi CoinMobility in the mobility indicates that investors take positions with the short -term profit purchase target. According to CoinMarketCAP data, Altcoin’s transaction volume in the last 24 hours increased by 92 percent to 920 million dollars. This transaction volume is popular in the same time period CARDANO $0.661396‘s (island) volume of 843 million dollars to increase the attention.
This increase in volume stands out as one of the most important factors behind the price rise. With the increasing transaction volume, Pi Coin’s market value exceeded $ 4 billion. However, despite the rise, the danger has not yet passed. Lack of large stock market listing and possible sales pressure from early miners can withdraw to $ 0.1 again.
Banxa cooperation and community pressure
Pi Network’s nominal currencies to allow Pi Coin to purchase Banxa It was announced that he cooperated with. Thanks to this agreement, Pi Coin became a little more integrated into the traditional financial system. Some investors believe that this development is one of the factors that trigger the price rise in recent days.
However, some members in the Pi Network community do not find this step sufficient. A community member named “Dr. Pi Coin ,, argues that the Altcoin project should take more radical steps. Especially Pi FoundationBillions of Pi Coin, which are kept in more than 20,000 wallets of more than 20 thousand wallets, stated that such moves can increase long -term confidence.
Technical indicators point to a strong rise
Technical indicators in the hourly graph show that the procurement pressure in Pi Coin is clearly increased. Relative power index (RSI), for the first time, reached 73 levels for weeks and signaled a strong rise momentum. Although this level shows that the over -purchase zone is approached, it indicates that the tendency to rise in the short term may continue.
Macd The indicator also passes to the positive area and supports the rise. Used in technical analysis Fibonacci According to their levels, if the Pi Coin breaks $ 0.90 resistance, it can rally towards $ 1. However, for this scenario, the general atmosphere of the market needs to return in favor of Altcoin.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
