The Pi Coin price has plunged by 12% today, with its drop to $0.5525 coming after Israel launched airstrikes against Iran overnight.
PI’s issues don’t end there, however, since the alt is also down by 16% in a fortnight and 53% in a month, while also suffering an 81.5% drop since reaching an ATH of $2.99 in late February.
It has suffered more than other alts during the past few weeks for various reasons, yet one of the most damaging is the fact that many PI holders are continuing to report issues with claiming their tokens.
This ongoing concern continues to weaken faith in PI, and when coupled with the lack of major exchange listings, it potentially indicates a disappointing long-term Pi Coin price prediction.
Pi Coin Price Prediction: Failed KYC? Broken Balances? Why This Mess Might Set Off a PI Supply Shock
Despite completing the migration to its mainnet in February and March, Pi Network continues to face issues with complaints that users still can’t access their PI tokens, even after completing the necessary KYC steps.
This has been an issue since the migration commenced in February, with the Pi Core Team receiving angry replies to almost every message and update they posted on X.
Pi Network has been addressing these issues in several ways, including posting advice on the correct wallet address to use in transferring PI, yet issues and complaints persist.
Recent days have also witnessed a large PI holder – possibly connected with the Pi Foundation – taking millions in the token out of exchanges, which has raised concerns of a supply squeeze.
And if we look at PI’s chart today, we see that it has fallen sharply and arguably bottomed out, with its RSI (purple) plunging to 20 this morning, a strongly oversold position.
Source: TradingViewThis would mean that the Pi Coin price is massively overdue a big rebound, although critics would argue that it has entered a death spiral and may never properly recover.
Its trading volume had been reading below $100 million for a week prior to today’s selloff, indicating an alarming lack of wider interest in the token.
And given that users continue to report problems in fully migrating and claiming tokens, the crypto may struggle to attract the major exchange listings (e.g. Binance, Coinbase) that could significantly boost its price.
As such, we may see it drop below $0.50 in the next couple of weeks, although a market-wide recovery and good Pi Network news could see it return to $1 by the end of the summer.
Bitcoin Hyper Raises $1.1 Million As Anticipation for Layer-Two Platform Intesifies
Many traders may remain unconvinced as far as PI goes, in which case they may prefer to invest in alternatives, including newer tokens with more potential upside.
Finding the most promising new tokens is difficult, however, but one way of making things easier is to look for popular presales, which can often end with big post-listing rallies.
A strong example of a new presale coin is Bitcoin Hyper (HYPER), a layer-two project that launched its ICO last month, and has already raised $1.1 million.
Bitcoin Hyper is developing a layer-two network for Bitcoin, tapping into the immense value of the Bitcoin network but also providing the speed and scalability that the proof-of-work cryptocurrency lacks in relation to newer rivals.
Bitcoin Hyper will launch on the Ethereum network, while later expanding to include a Solana-compatible version, giving it a wide reach within the crypto ecosystem.
It will work by enabling Bitcoin holders to deposit and lock up their BTC, receiving an equivalent amount of Bitcoin Hyper-based BTC.
Users will then be able to use their BTC with an expanding range of DeFi apps and protocols, putting their holdings to work.
Assuming that Bitcoin Hyper will attract adoption and grow steadily, its native token HYPER could see lots of demand.
It’s necessary to pay for gas fees, while it will also be usable with apps and as a governance token.
Investors can buy it early by going to the Bitcoin Hyper website, where it costs $0.011875.
This price will rise in just under two days, so newcomers should act sooner rather than later.
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