CoinCatch launched its PIUSDT perpetual futures pair, offering traders up to 50x leverage on Pi Coin.
Pi Coin initially surged to $0.657 post-announcement but saw a sharp reversal, dropping to $0.642 within hours.
Despite a slight recovery to $0.651, the token failed to regain its strength and continued downward, trading around $0.645.
The market reaction indicates traders may have exploited the news for short-term gains, emphasizing the need for sustained demand to maintain Pi Coin's upward momentum.