NOIDA (CoinChapter.com)—The Pi Network shilling, pardon, marketing team seems to have taken a hint from the Men In Black 3 movie and is likely thinking they are time travelers.
It does seem that at least they have the fifth-dimensional called Griffin on their team since they choose to remain outside of the past and the future. Oh, and of course, the fake news, or the semi-fake news, continues to be a part of Pi Network’s magnificent shilling campaign.
Pi Network Drums Up Weirdly Fake News
So, the latest from Pi Network shilling team is that the team has partnered with an Indian bank to launch a credit card. Great news, except the credit card, has nothing to do with Pi Network.
In May 2024, YES Bank and ANQ launched two new co-branded credit cards, Pi and Phi, targeting Indian consumers. The digital-only YES BANK ANQ Pi Credit Card offers UPI-based credit for domestic transactions with no fees.
The physical YES BANK ANQ Phi Credit Card is for domestic and international purchases. It offers rewards in categories like dining and travel, fuel surcharge waivers, and international lounge access.
However, these cards have nothing to do with Pi Network. YES Bank or ANQ have not mentioned any partnership with Pi Network anywhere. The financial institutions likely took inspiration from India’s Unified Payment Interface to give the products their name or to highlight the cards’ UPI connection.
Yet, deluded Pi coin fans decided that this was a Pi Network partnership. CoinChapter reached out to ANQ Finance for comments but has not received a response at press time.
The Pi Network shilling campaign peddling weird news is nothing new. For instance, the Pi Network team integrated metadata for Visa. Yet, the project’s hopium-addicted fans decided that VISA has integrated with Pi Network.
In addition, one thing to remember is that the Pi Network is yet to launch its open mainnet. As such, it is illogical for a giant like VISA or a financial institution like YES Bank to partner with a platform that is still in its testing phase.
However, the YES Bank news might have resulted in traders considering buying Pi coins, especially in India.
Pi Coin Price Is Dead Inside
Meanwhile, PI coin price continues its dreary one-dimensional path, remaining steadfastly below $40 since June 8. With no open mainnet, market participants continue to trade the token’s IOUs.
Despite all the shilling, PI coin IOU’s price managed a minuscule 2% spike in price on June 20, rising to a daily high near $39.
An uptrend from here would see PI coin price face resistance near $40.2 and $43 before corrections pare gains.
On the other hand, a downtrend would see the Pi Network token price drop to support near $36. Moreover, breaching the immediate support level might result in the PI coin price testing support near $34.
For a price action so stagnant, the RSI is, unsurprisingly, neutral, with a score of 46.31 on the daily chart.
