After months of waiting, Pi Coin finally launched on its mainnet on February 20 at 1:30 PM IST, and it’s been a rollercoaster ever since. The token, now trading at almost INR 142 ($1.64), has been swinging between INR 104 and INR 182, keeping traders on their toes. It started at $1.40 (INR 120), spiked 30% to $1.67 (INR 144) within an hour, and even touched $2 (INR 170) on some platforms before crashing back down. The question now is, can it climb to INR 200?
Pi Coin’s launch was met with extreme volatility. As expected, early holders rushed to sell, pushing the price down by 42% to INR 75 ($0.90), and at one point, it hit a low of INR 55 ($0.66). But in a surprising recovery, the token is back to almost INR 150.
Trading volume in the last 24 hours has surged to $1.12 billion, and the estimated market cap now stands at $10.75 billion, showing that the coin still has plenty of investor interest.
The question here is, what time Pi Coin will cross INR 200 ($2.40)? This will take effect in less than a week if purchase pressure stays, and further traders enter. But if investors begin to take profits, the momentum could cool off.
This growing investor confidence must strongly secure exchanges as well as real-world use cases for Pi Coin to maintain this momentum. But nothing is certain in the volatile crypto market.
Although some analysts are hoping to see long-term viability in Pi Coin’s return, others are doubtful about the possibility of further drops. It will take the next few days of market sentiment and liquidity to see if the token will stabilize or go through another sharp correction.
INR 200 is on the radar for now, but traders can expect to endure greater volatility before reaching it.
Also Read: Pi Coin Sees $1.34B Trading, But Price Drops 60% Overnight
