PI Coin Price Surges to All-Time High as Pi Network Trading Volume Tops $3 Billion
The post PI Coin Price Surges to All-Time High as Pi Network Trading Volume Tops $3 Billion appeared on BitcoinEthereumNews.com.
Pi Network (PI) has experienced a meteoric rise, surging over 70% in the last 24 hours and pushing its market capitalization to an estimated $16 billion. This surge coincides with a remarkable spike in trading volume, which has surpassed $3 billion. The price of PI briefly reached $2.99 before settling at $2.95, defying broader market trends as Bitcoin and other major cryptocurrencies faced downward pressure. The sharp rally has been attributed to several factors, including speculation around a potential Binance listing and increasing investor interest in the network’s development. However, technical indicators suggest a highly volatile market, with analysts split on whether PI will sustain its momentum or face a correction. Technical Indicators Show Mixed Signals Pi Network’s Directional Movement Index (DMI) highlights a strong uptrend, with the Average Directional Index (ADX) climbing to 57.7 from 12.3 in just one day. The Positive Directional indicator (+DI) has surged to 40.9, while the Negative Directional Indicator (-DI) has dropped to 1.1, confirming the bullish momentum. Pi Networks’s short-term chart (15 minutes) suggests potential pullbacks despite the overall bullish sentiment. Source: ArikMat on TradingView Despite this, the Bollinger Bands Trend (BBTrend) indicator has turned negative, falling from 51.2 to -11. That indicates the rally could be overextended and that a price correction is more likely to happen. If PI does reverse, important levels to check for support are $1.70, $1.42, and $0.79. Binance Listing Speculation Drives Hype One of the primary catalysts behind PI’s price surge is speculation surrounding a potential listing on Binance. A recent community poll on the exchange showed that 86% of participants favored listing the token. While Binance has yet to confirm an official decision, a successful listing could further fuel PI’s bullish momentum. The majority of Binance users—86.6%—support listing PI, and Binance may soon appear on Pi…
Filed under: News - @ February 28, 2025 3:26 pm