The cryptocurrency markets have started to retreat again this week, and yesterday\u2019s brief pump-and-dump only intensified the pressure on most altcoins.<\/p>\n
However, Pi Network\u2019s native token is among the few alts that have managed to defy the overall correction and sits above $0.20. Interestingly, this is not the first time this has happened in the past few months.<\/p>\n
October and November were quite brutal for the broader cryptocurrency market. In times when BTC and ETH were charting double-digit weekly (and on a few occasions, daily) losses, though, PI managed to defy<\/a> the overall crash and soared from $0.20 to almost $0.30.<\/p>\n However, the landscape around Pi Network\u2019s native coin started to worsen in early December when the rest of the market rebounded. As BTC challenged and exceeded $90,000, PI dropped below $0.25 and under $0.20 earlier this week.<\/p>\n The past 24 hours have been different once again. As reported<\/a> earlier today, many altcoins have posted notable price declines, with LEO, HYPE, and PUMP leading the pack south. However, PI and a few others have shown impressive resistance, and the asset has bounced above $0.20.<\/p>\n This begs the question of whether PI has the ability to be a hedge against crypto market corrections. But also, whether it fails to produce impressive gains when the rest of its altcoin cohort is surging.<\/p>\n One of the main drivers behind PI\u2019s October-November defiance was the continued updates<\/a> from the team in regards to the overall ecosystem growth. However, what seems to be impacting the token the most is actually rumors and speculations<\/a>.<\/p>\n Its price has recorded the most significant gains (and subsequent crashes) after someone with status hinted that big news is coming. Months ago, it was a potential listing on Binance, which never materialized.<\/p>\n Then, there were rumors about some new development, which sent<\/a> PI flying, but once it was announced<\/a>, a $100 million Pi Network Ventures fund, it led to a violent correction. It\u2019s worth noting that despite each pump following some speculation, the subsequent rejection and price drop are much harsher, and PI tends to underperform in the long run.<\/p>\n After all, it has plunged by more than 93% since its all-time high in late February, and every rebound appears like a dead-cat bounce on the higher timeframes.<\/p>\n The post Is Pi Network\u2019s PI Set to Benefit From the Current Market Dip? Here\u2019s What It Means<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The cryptocurrency markets have started to retreat again this week, and yesterday\u2019s brief pump-and-dump only intensified the pressure on most altcoins. However, Pi Network\u2019s native token is among the few alts that have managed to defy the overall correction and sits above $0.20. Interestingly, this is not the first time this has happened in the […]<\/p>\n","protected":false},"author":0,"featured_media":121481,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-121480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/121480"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=121480"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/121480\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/121481"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=121480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=121480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=121480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What Could Drive PI Forward?<\/h2>\n