Pi coin was off to a surprising bullish start this week on Wednesday, after previously experiencing a heavy slide in the previous 4 weeks. Even more interesting were the highly speculative reasons behind the recent demand resurgence.
Here’s why the recent Pi coin price action was noteworthy. Its bearish momentum has been dominant since 14 May.
This was after achieving an impressive rally in the second week of May. However, the downside resulted in the cryptocurrency losing those previous gains.
For context, Pi coin tanked by 75% from its May peak to its lowest June price point at $0.40. The cryptocurrency pulled off an impressive 22% upside yesterday at its $0.66 peak. It’s the highest 24-hour gain in the last 4 weeks.
However, during writing, it has wiped off much of its gain and fallen to $0.55 amid a volatile trading in the broader crypto market.
It has so far rallied by about 40% through Wednesday from its lowest weekly price point on Sunday. Also worth noting wa
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