Pi network crashed… value of one coin is not even 1 dollar, will it be able to compete with bitcoin?

At this time, the new cryptocurrency Pi Network is dominating the crypto world. The biggest reason for this is that it is being called the bitcoin of the future. It was launched in February last month. It created a stir as soon as it was launched. This crypto was launched at $ 1.84 and within no time its value reached about $ 3 (2.74 dollars). But now it has fallen tremendously and its value is not even one dollar left.

According to CoinMarketCap at 2 pm on Thursday, the price of one Pi coin was $ 0.8455 i.e. less than one dollar. At the same time, this cryptocurrency has jumped more than 1.50 percent in the last 24 hours. However, this jump came after 12.:15 pm Indian time. But after a few minutes it started falling again. Before this, it had already fallen a lot.

How was the return of one month?

This crypto was launched on February 20 last month. Its launching price was $ 1.84. After the launch, it gained momentum and reached above two dollars. But later the same day, it also started declining. Within 24 hours of its launch, its price fell by more than 55 percent.

Now since it has been a little more than a month since its launch, it has only caused losses to investors in this time. This cryptocurrency has fallen by more than 45 percent in the last one month. In a month, its price has fallen from $ 2.60 to $ 0.8455.

Why did it fall?

This cryptocurrency is not listed on major exchanges. Most of the trading of Pi is happening on exchanges like OKX, Gate.io and Bitget. It is not listed on major exchanges like Binance, Coinbase and Upbit. Due to this, many users are not able to buy it.

According to experts, the reason for the fall in Pi Coin can also be profit booking. Also, due to low demand among investors, the price of Pi Coin has also fallen. Apart from this, doubts are also being raised about its utility in the real world.

Big expectations from small crypto

Many investors are still seeing big hopes in this small cryptocurrency. Many experts believe that Pi Coin can become like Bitcoin in future. That is, many experts are calling Pi Network the Bitcoin of the future. Some crypto analysts believe that if its use increases and major exchanges start listing it, then it can rise. According to experts, its price can reach $ 100 this year.