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Highlights
- Pi Network price is poised for a strong recovery if major US banks adopt Pi Coin.
- Pi Coin's rising usage is driving speculation that it may soon be adopted by leading institutions on Wall Street.
- The one-hour Pi Network chart suggests that the token may be on the verge of a recovery if it defends a crucial support level.
Pi Network price is recording gains amid a surge in buying pressure across the entire crypto market. At press time, Pi Coin trades at $0.66 with a 6% gain, and the community is optimistic that major banks might start using PI, bolstering more gains. This article explores the impact that this level of adoption would have on this token.
Pi Network Price Analysis If Top Banks Start Using Pi Network
Pi Network price has struggled under bearish headwinds in recent weeks. Factors such as token unlocks and concerns about transparency have impacted investor confidence and caused a lack of fresh interest from buyers.
However, Pi Network has also expanded its presence in the US after being named an affiliate member of Stanford. Pi Coin also entered the trillion-dollar US real estate market after being adopted by Florida-based Zito Realty.
These instances have fuelled speculation that the Pi Network token will receive the attention of leading US banks, including JPMorgan and Bank of America. If these banks adopt Pi Network to integrate blockchain in services like payments and remittances, Pi Coin price will surge.
Grok3 also estimates that if top banks start using Pi Network, the price will soar to as high as $30. It stated,
“A moderate estimate of $10–$30 is plausible if banks integrate PI for significant use cases, aligning with some analyst predictions.”
This bullish Pi Network price prediction is achievable as the project is quickly gaining adoption across the Web3 industry after the recent partnership with Banxa and integration with Chainlink Data Streams.
Meanwhile, popular analyst Dr Altcoin recently stated that one of the main factors that will prevent Pi Coin price from falling is institutional adoption. However, he also opined that the blockchain would have to undergo upgrades for this to happen.
Pi Coin Price Defends Support, Eyes Recovery
The 4-hour Pi Network price chart shows that the token has bounced from crucial support at $0.60. Looking at past performance, this support level is crucial to the performance of the token. As Pi Coin makes decisive closes above this support level, it may extend its gains. Conversely, if it breaches this support, it will cause a downswing.
If Pi Coin extends its rally above the resistance level of $0.64, the next target price for the token at $0.74. Meanwhile, the MACD line is rising, has crossed over to the positive region, confirming that the trend has changed to bullish.
Considering the speculation that the Pi Network token may receive adoption from top US banks, bullish momentum is surging around it, which may spark a steady uptrend. At the same time, the four-hour Pi Coin chart indicates the altcoin is ready for a recovery after the recent dip.
Frequently Asked Questions (FAQs)
1. Will major US banks support Pi Network?
2. Could institutional adoption impact Pi Network price?
3. Is Pi Network token eyeing a recovery in the short term?
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