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On June 4, CoinCatch officially announced the launch of its PIUSDT perpetual futures pair, offering traders up to 50x leverage on Pi Coin.
However, despite the milestone, price action told a different story.
Post-Announcement Price Reaction: Spike, Then Sharp Reversal
Following the news, Pi Coin briefly climbed, peaking around $0.657, suggesting an initial wave of excitement. This price spike was short-lived, as within a few hours, sentiment sharply reversed.
By early June 5, the price had plunged to a low near $0.642, marking a 2.3% drop from the announcement peak. Despite a modest bounce back toward $0.651, the token failed to reclaim its earlier strength and continued trending downward, hovering around $0.645 at the time of writing.
Market Outlook
The initial rally and swift sell-off suggest traders may have used the news for short-term gains rather than long-term positioning. This behavior is common during high-leverage listings, where volatility often spikes.
While the CoinCatch listing increases access and liquidity, Pi Coin will need broader support and sustained demand to maintain upward momentum.
Let me know if you want a technical breakdown of support/resistance levels or a comparative reaction to the Kraken Pro listing.
The post Pi Coin Gets New Futures Listing — How Did the Price Respond? appeared first on Coindoo.
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