The cryptocurrency project of Pi Community has given its pioneers another extension for the KYC verification process, after which there is pressure in the Pi Coin Value. Pi Community Grace Length Closing Date lengthen While doing PI Community Developers announced that the last date for KYC verification has now been extended till February 28, 2025. This is the third time the deadline has been carried forward for the KYC process. In this article, we will look at the impact on the price of Pi Coin due to the delay of KYC verification of Pi Community and will also analyze the status of Pi Community Mainnet Initiation.
KYC verification of Pi Community Delay and its effect
Developers of Pi Community have extended the date of the KYC verification process one more time. Its purpose is to give more and more pioneers an opportunity to complete the KYC process, so that they can transfer their tookons to Mainnet. However, this delay has raised concerns between investors and users. Because if a Pioneer did not complete the KYC process by 28 February, he will be able to transfer the token mined to the mainnet in the last six months only. They will lose the remaining tokens. Despite this delay, PI Community has assured that the transition on Mainnet will still be planned in the first quarter 2025.
Pi coin value decline and technical indicators
The Pi Coin Value continues to decline, supported by technical indicators. Currently, the price of Pi Coin is almost $ 38.18 Is, which has fallen more than 5% compared to the previous day. The price of Pi Coin has crossed 50-day and 200-day moving averages downwards, indicating that the biers dominated. Also, Pi Coin has also created a bearish penant pattern, which is a negative sign. Also, Pi Coin $ 43.00 Important support level of K, which was his low swing point in November and December 2024. Along with this, Pi Coin 78.6% Fibonchi has also gone below the retracement level.
If this decline continues, the price of Pi Coin may fall to $ 29.35, indicating a drop of about 32% from the current level. However, if the Pi coin goes above the important resistance level of $ 50, it will repeal the biarish approach and the chances of a bullish trend will increase.
Conclusion
Delay in KYC verification of Pi Community and Pi Community Mainnet Initiation uncertainty Due to the pressure on the price of Pi Coin remains. Pi is a sign of a decline in the technical status of coin and investors need to be vigilant. Currently pi coin value almost $ 38.18 And it has fallen more than 5% than the previous day. What will be the result of the Mainnet Initiation, only time will tell, but in the current situation the price of Pi Coin is likely to fall further. Investors are advised to take care of these factors while considering their investment.
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