Pi Coin’s Potential Surge: Will It Hit $3-$4 Amid Founder’s Scam Rebuttal?

The Pi Network price could reach all-time highs, if it is able to hold at $0.60. The project's creator has also stated that despite the disappointing "launch", which saw Pi Coin fall by over 60% in a single day, that the token was not a scam and dispelled FUD around the project.

Pi Coin is trading at $0.663 after retreating from its daily high of $996.6. After a period of increased volatility, PI Coin appears to be stabilizing in the range between $0.64 and $0.66.

In a YouTube video posted recently, Chengdiao Fan (), the founder of Pi Network, defended by saying that unlike other blockchain projects, Pi Coin has never done an Initial Coin Offering. The project instead made sure that the tokens are free and available to all.

Fan said that unlike meme currencies which lack strong fundamentals, Pi Network has built a solid ecosystem and infrastructure to ensure Pi Coin's utility.

Her comments come after several pioneers have expressed "disappointment' in the recent launch. Dr Picoin said that the launch price was below $2, and then the price dropped. The project should have been launched three years ago.

Ben Zhou, CEO of Bybit, has also labelled the project as a "scam". He added that the exchange would not allow users to purchase Pi Coin through the platform.

Pi Coin's price has cooled down after a period with high volatility. The token's price has stabilized at $0.60. If it can hold this level it will prevent further falls.

If buyers return, Pi Network's token will face resistance at $0.82. A rally beyond $1 will also lead to a long-term rally up to $3.4.

Pi Network also needs to announce partnerships that will highlight Open Network’s use case. Strong fundamentals are usually a good sign for new tokens, and can dispel any concerns that the project is a scam.