Pi Network price in India is ₹ 4,454.68 INR right now, so it would cost ₹ 22,273.42 INR to buy five PI. In the same way, you can trade 1 INR for 0.0002245 PI and 50 INR for 0.01122 PI, not counting any site or gas fees. In the past 30 days, Pi Network ‘s worth in Indian Rupee was 7,055.67 INR, reached on October 26, 2024, at 18:00 UTC. This means that 100 PI was worth the most, which was 705,567 INR. It was 2,688.65 INR on October 2, 2024, at 04:00 UTC, meaning 100 PI was worth the least. Pi Network price in India has been volatile over the last 30 days.
In the past week, the value of 1 PI has grown by +33.44% compared to the Indian Rupee. The rate has gone up and down by -2.63% in the last 24 hours, from a high of 4,886.4 INR to a low of 4,338.72 INR. This time last month, 1 PI was worth ₹ 2,944.08 INR, which is +51.45% more than it is now. Pi’s value has increased by + + +₹639.01INR in the past year, a change of +49.87%.
Factors Influencing the PI Network Price in India
Let’s look at the different things that can change pi network price in India.
Market Dynamics
In the crypto world, how people feel about the market has a big effect. The price of Pi Coin could go up if people feel good about themselves after hearing good news or accomplishing something. The rise of Bitcoin has affected other cryptocurrencies, such as PI Coin, and the whole crypto market. When people are optimistic about Bitcoin’s future or its ability to become widely used, other cryptocurrencies grow. So, Bitcoin’s success and hope for altcoins often go hand in hand.
Technological Advancements
The value of the PI coin can be affected by changes in technology, especially within its community. For example, suppose PI offers big improvements or benefits over other cryptocurrencies. In that case, buyers may switch their attention and money to PI coin, which would change how the market works.
Regulatory Environment
Governments often look at crypto assets like the PI coin with care. As PI becomes more popular and is used by more people, regulators pay more attention. Authorities are wary of decentralized, uncontrolled cryptos. Many countries are hesitant to support currencies that are not under their control. As a result, regulatory steps may be implemented to keep things under control. These rules and possible limits could make digital assets like the PI coin more centralized, affecting its price in the long run.
Historical performance of the Pi Coin
Crypto.com says they have been keeping track of Pi coin prices since December 2022. But it clarifies that the coin can’t be bought or sold yet and that companies that offer PI usually give “IOUs” instead of real coin ownership. Even though PI can’t be traded, it reached a high point of $244 on January 1, 2023. Following this, the price of Pi slowly went down until it hit an all-time low of $19.7 on July 14, 2023. Even though there was some improvement in August, when prices were close to $50, the upward trend could not be maintained. Because of this, trade stayed in a bearish zone around $30 for a few months.
As the market has been recovering from support levels in the past few weeks, more people have been buying Pi coins. Because of this rise in demand, the price went over $50 before levelling off at around $40, where it is now.
How the Market Feels and Technical Analysis
The price of the Pi coin has dropped by 4.39% since yesterday to $38.28. Its market value is $2.62 billion, and $0.42 million trades happen every 24 hours. The fear and greed measure is 79, which means investors are very greedy, and the market is very volatile (33.47%). The price has been stable for the last 15 days after reaching a high point of $123.51 on March 13.
FAQs
Conclusion
Like most other cryptocurrencies, Pi coin’s value is determined by how supply and demand work together. At the moment, there are a lot of Pi Coins available, but there aren’t many important things driving demand. Even though it has an amazing user base of more than 47 million, many of these users can’t sell their Pi shares. This has caused a big pile of holders eager to make money. A lot of this selling pressure will likely show up soon after the open mainnet goes live, which could cause the price to drop badly.
On the other hand, changes that make the environment better or give long-term buyers more reasons to spend might lessen the pressure to sell. Always carefully researching and making financial decisions based on one’s risk tolerance and goals is the most important thing that one can do
