The broader cryptocurrency market is trying to recover after days of bearish price action. Bitcoin has climbed back slightly above the $90,000 level, while Ethereum is trading above $3,000 again, providing some relief after a sharp downturn.
Amid this slow recovery, Pi Network’s native token, Pi, remains stuck below its important price range. Pi is currently trading at $0.2461, backed by a market cap of approximately $2.05 billion. The token’s price is showing mild upward movement, but the force behind this move appears to be limited.
Weak volume is a concern
Despite the slight increase, PI’s 24-hour trading volume fell sharply, by more than 35%, to $23 million. The drop in volume shows that buyers are present, but not confident enough to push the price up with conviction.
For now, analysts say Pi should hold support between $0.243 and $0.244 to maintain a bullish structure in the near term. If that range holds, Pi could continue to rise towards $0.250, and possibly $0.255 if new liquidity enters the market.
The token could attempt a bigger recovery towards $0.30-$0.35. However, losing support around $0.27 could send Pi back to the $0.20 zone, wiping out recent gains.
Could Pi be the start of the next Altcoin season?
One crypto commentator on
The commentator argued that new altseasons are usually driven by strong new stories – and Pi Network represents one of the biggest ‘new chain stories’ the market has seen in years. With millions of KYC-verified users waiting on the sidelines, the upcoming Pi DEX launch is seen as a major catalyst.
Why Pi Network’s DEX could be an important catalyst
According to them, Pi’s decentralized exchange could become a massive liquidity hub once it goes live, thanks to its large built-in user base. When existing major blockchains such as Bitcoin and Ethereum appear overloaded or temporarily stagnant, capital often rotates into new ecosystems with strong momentum or new technology.
The market currently fits that profile. Bitcoin and Ethereum are stabilizing rather than rising, ETF approvals are delayed, and Ethereum’s next upgrade still brings uncertainty – all conditions that could push traders to explore new opportunities.
A perfect storm for a new story
The argument is that if Pi launches its DEX at this precise moment, when market sentiment is looking for a new spark, it could become the trigger that sets off the next altcoin bull cycle.
Whether this scenario actually plays out depends on execution, market timing and buying momentum.
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