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Pi Community (PI) has increased by 3% over the past 24 hours, reaching $1.70 while the overall cryptocurrency market experiences a 1% decline at this moment.
PI is still down by 9% over the week and 36% over the month; however, it has made a notable recovery of 35% since hitting a one-week low of $1.26 on Sunday.
This indicates a significant rebound in momentum, and with PI being one of the most discussed and anticipated new cryptocurrencies currently, it certainly has the potential for substantial gains in the medium to long term.
Is Pi Community the Best Trade Right Now? PI Price Rises from Recent Lows
Examining Pi Community’s one-hour chart, there is a possibility that it may experience another dip in the next day or two, based on recent trends.
For instance, its 30-period moving average (orange) has recently crossed above the 200-period moving average (blue), while its RSI (purple) has also climbed above 70.
The last time this occurred, its upward movement slowed and stabilized for a day or two before experiencing a significant decline.
Source: TradingView
Indeed, there are macroeconomic factors contributing to this potential dip, so there is no certainty that PI’s price will decrease again in the near future.
However, its indicators suggest that it may be nearing a short-term peak, and traders might find it advantageous to wait before purchasing the coin.
That said, PI remains 42% below its all-time high of $2.99, indicating that in the medium and long term, it arguably remains undervalued and oversold.
Thus, investors taking a long-term approach may benefit from acquiring it now, regardless of short-term fluctuations.
Indeed, Pi Community is already among the most popular altcoins in the market, despite having only launched its mainnet on February 20, with 4.2 million followers on its X account.
14-03-2025
Are you ready? Pioneers $Pi— Pi Community (@PiNetwork_8) March 12, 2025
Moreover, its community is currently enthusiastic as tomorrow marks Pi Day, 3.14, which could provide the coin with additional visibility, if nothing else.
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What would likely benefit the token the most would be new listings on major exchanges, with Coinbase, Binance, and Kraken (among others) yet to add the altcoin.
If one of them begins to support it, the coin could experience another significant rally, potentially entering a phase of price discovery.
Assuming this occurs, and that current tariff issues do not worsen, Pi Community might reach $2 by the end of the month and $5 by the second half of the year.
New Altcoins with Stronger Fundamentals
While Pi Community certainly boasts a large community, it can be argued that it still lacks substantial utility, as its platform has yet to appear on DefiLlama for TVL.
Consequently, some traders may opt to invest in alternatives, with certain newer coins currently demonstrating not only considerable momentum but also significant long-term potential.
Perhaps one of the most exciting new coins is Solaxy (SOLX), a new layer-two network for Solana that has raised an impressive $26 million in its ongoing presale.
Solaxy’s presale has performed exceptionally well because it addresses a genuine demand within the crypto space, specifically for a sidechain that can enhance Solana’s usability, affordability, and reliability.
Despite Solana undergoing significant upgrades in recent years, it still experiences a high rate of failed transactions and faces congestion and delays during peak traffic.
Solaxy aims to resolve these issues by providing Solana users with faster transactions and lower fees, while also enabling instant bridging between itself and Solana.
What is particularly exciting is that Solaxy’s team plans to expand its compatibility over time, suggesting that the L2 may eventually bridge with other chains beyond Solana.
Since SOLX will be essential for paying the L2’s fees, it is likely to see its value increase in tandem with Solaxy’s growth.
Investors can purchase it at a discount now by visiting the Solaxy website, where SOLX is currently priced at $0.001662.
This price will continue to rise every few days until the presale concludes, at which point SOLX will be listed and potentially surge.
The post Is Pi Community the Best Trade Right Now? PI Price Rises from Recent Lows appeared first on Cryptonews.
