Nigeria News: PI Coin Decline Affects Broader Crypto Market
The Pi Coin price has plunged by 13%, now trading close to the critical support level of $1.10. Despite the significant decline, online dealers are holding onto their investments, hesitant to sell. Experts suggest the coin could further dip to $1.05 or even $1.00, reflecting the heightened selling pressure in the market. Source
Market analysts foresee a slight possibility for a rebound, with prices potentially increasing to $1.15 or challenging $1.20 if the bulls regain control. The overall crypto market has also contracted by 1.70%, impacting coins like JasmyCoin, which dropped 6%, and others like Litecoin and Ethena, falling over 5%. The crypto market’s total capitalization now stands at $2.7 trillion, indicating a broad-based sell-off.
- Key Takeaways:
- Pi Coin’s price is at a crucial support level of $1.10.
- Rebound potential exists, targeting $1.15-$1.20.
- JasmyCoin and others are similarly affected amid a market dip.
As Abuja and Lagos news focus on economic fluctuations, the situation calls for scrutiny of local investments in cryptocurrencies. How do you think the crypto market will adjust to these challenges? Join the conversation in the comments below!
