Pi Network enthusiasts who are heavily involved in promoting the project continue to indulge in wishful thinking and daydreaming, as reported by CoinChapter.com. It appears that the marketing team of Pi Network has drawn inspiration from the movie Men In Black 3 and believes they are time travelers, operating in a fifth-dimensional realm akin to the character Griffin. The dissemination of fake news, or semi-fake news, remains a core component of their shilling strategy.
The latest news circulating from the Pi Network shilling team suggests a collaboration with an Indian bank to introduce a new credit card. However, the reality is that these credit cards, Pi and Phi, launched in May 2024 by YES Bank and ANQ, have no actual affiliation with Pi Network. The digital-only YES BANK ANQ Pi Credit Card offers UPI-based credit for domestic transactions, while the physical YES BANK ANQ Phi Credit Card caters to both domestic and international purchases, providing rewards in various categories. Despite the lack of any official partnership between Pi Network and the financial institutions, misled Pi coin fans have mistakenly believed otherwise.
The trend of spreading misleading information is not new for the Pi Network shilling campaign, with past instances like falsely claiming integration with Visa. It is important to note that Pi Network has yet to launch its open mainnet, making it unlikely for established entities like VISA or YES Bank to engage in partnerships at this stage. However, news of the collaboration with YES Bank may have influenced traders to consider investing in Pi coins, particularly in India.
Meanwhile, the price of PI coin continues to stagnate below $40 since June 8, with trading based on IOUs due to the lack of an open mainnet. Despite the shilling efforts, the price of PI coin IOUs saw a minor 2% increase on June 20, reaching a daily high near $39. Moving forward, a potential uptrend could face resistance levels at $40.2 and $43, while a downtrend might lead to a test of support levels near $36 and $34. The Relative Strength Index (RSI) reflects the neutral price action, currently standing at 46.31 on the daily chart.
