Crypto Alert: This Coin Drops 24% From Record High of 300% - What's Next

Pi Coin, the cryptocurrency of the Pi Network, has witnessed a sharp selloff after reaching record highs just two days ago. The coin, which had surged nearly 300%, dropped 13% in the last 24 hours, while trading volumes plunged by 57%.

Pi Coin was among the top-performing cryptocurrencies earlier this week, nearly touching the $3 mark. The surge was driven by growing speculation about a potential listing on Binance, the world’s largest cryptocurrency exchange. 

Additionally, the anticipation of its open network launch contributed to the bullish momentum. Experts believe that if Pi Coin gets listed on Binance, it could experience another 50% to 100% price surge.

Pi Coin: Current Market Performance

At the time of writing, Pi Coin is trading at $2.30, down 12.97% in the last 24 hours. Its trading volume has dropped 56.7% to $1.53 billion, and its market capitalization stands at $15.2 billion. Pi Coin’s total supply is currently 10.288 billion PIs, while its maximum supply is capped at 100 billion PIs.

The cryptocurrency had previously hit an all-time high of $2.98 on February 26, but has since fallen 24%. Despite the drop, it remains up 270% from its all-time low of $0.6152.

Pi Coin: Downturn

Pi Coin is not the only cryptocurrency experiencing losses. The broader market has also witnessed a major selloff over the past week. Bitcoin has plunged by 20%, while Ethereum has dropped by 24%. XRP has fallen by 26% and BNB has lost 15%. Solana and Dogecoin have also declined by 27% and 28%, respectively.

Pi Coin: Launch 

Since its debut, Pi Coin has had a spectacular rise, outpacing well-known cryptocurrencies like Dogecoin, Ethereum, and Bitcoin.  Its recent Open Network debut and prospective Binance listing, which have excited and encouraged investors, are the main causes of the spike.  The US President-elect Donald Trump 's wife, Melania Trump, has launched her own cryptocurrency ahead of Trump's inauguration.

As Pi Coin’s price remains volatile, investors are closely monitoring developments regarding a potential Binance listing, which could significantly impact its future trajectory.