Pi Network has experienced significant price surge, reaching a new all-time high despite the overall decline in the cryptocurrency market. This increase is accompanied by a substantial increase in trading volumes.
Pi Network Price Surge
Pi Network (PI) has surged by 80% over the past 24 hours, reaching an unprecedented high of $2.99. During this period, the trading volume surpassed $3.2 billion, despite Bitcoin falling below $85,000.
Technical Analysis and Key Levels
On the technical side, PI is showing a neutral to slightly bullish bias. The price fluctuates around the 9-EMA, acting as both support and resistance. RSI (14) at 55.60 indicates neutral momentum. Key levels include $3.00 as resistance and $2.90 as support.
Controversies and Listing Rumors
Despite its price increase, the Pi Network project remains controversial due to pyramid scheme allegations. Industry leaders like Bybit CEO Ben Zhou have called the project a scam. There are also uncertainties about its unverified circulating supply and rumors of a possible listing on Binance.
Amid rumors of a Binance listing and substantial price spikes, cryptocurrency projects find themselves in the spotlight both positively and controversially.
