The Pi Network price is attempting to bounce back after crashing to a record low earlier this month. Pi Coin was trading at $0.3625, up from this month’s low of $0.3225.
Pi Network Hackathon is Starting Today
The main catalyst for the Pi Network price is the upcoming hackathon that kicks off today, August 21. This will be a key event where developers from around the world will compete to win Pi tokens and showcase their creations.
The hackathon is one way that the Pi Core Team is aiming to boost the ecosystem and shed the tag of being a ghost chain. It builds up on other initiatives that the team has made in the past few months.
For example, Pi Network launched the Pi App Studio that makes it easy for users to build applications on the network. They also launched the Pi AI Studio, which focuses on AI apps and chatbots.
Additionally, the developers launched the Pi Network Venture fund, which will invest $100 million in applications within the ecosystem. As such, the Pi coin price will likely do well if some applications succeed.
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Bitcoin Penguins is Stealing the Show
Meanwhile, crypto investors are turning to Bitcoin Penguins as the Pi Network price remains much lower than its all-time high.
Bitcoin Penguins, which launched its presale three weeks ago, has become one of the fastest-growing players in the crypto industry as it raised over $4 million from investors from around the world.
The growth has been fueled by its incremental price movement, where earlier buyers are benefiting as the price jumps by 5% each day.
Bitcoin Penguins also has a huge potential, with the developers targeting a post listing surge to $2, which is much higher than the current $0.0017.
BPENGU is also capturing the attention of investors who are keen on investing in Bitcoin, which is widely seen as a store of value. In line with this, 4 lucky winners will walk away with a Bitcoin, which they can HODL or sell.
It also hopes to replicate and even beat Pudgy Penguins (PENGU), which introduced the penguin theme in the crypto industry.
The other key factor driving the Bitcoin Penguins popularity is that holders who stake it earn an APY of between 50% and 100% if staked for between a month to three months.
Unlike other pre-sales, Bitcoin Penguins has a clear roadmap, including the presale ending on August 27 and the listing happening a few days afterwards.
Don’t miss out. Hurry up and buy Bitcoin Penguins here before the exchange listings.
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