The PI coin has increased by about 80% in the last 24 hours and has reached a new all-time high of $ 2.99.
Crypto.news price According to tracker data, Pi Network’s (Pi) Serge coincides with a huge increase in 24-hour trading volume, which is more than $ 3.2 billion.
The token is currently seated at $ 2.95 after earlier trading as $ 1.65 as low in the same 24-hour period. Spike denys the ongoing decline in the wider cryptocurrency market, with bitcoin falling below $ 85,000.
On the technical side, the PI is a neutral showing a slightly rapid bias. The 5-Mint chart shows fluctuations in value action around 9-EMA, which is acting both as support and resistance. RSI (14) at 55.60 suggests neutral speed, neither overbott nor oversold conditions.
Major levels for view include $ 3.00 as resistance and $ 2.90 as support. The pie over the 9-EMA can push the pie to $ 2.95-$ 3.00, while a drop below $ 2.90 can transfer speed for recession.
The PI network remains controversial despite its growing evaluation as it is alleged that the project is a pyramid scheme. Leaders of industry like Bybit CEO Ben Zhou have also criticized the project, called it a scam. Concerns about its rejected circulating supply have also increased.
Due to lack of independent verification, major platforms such as coinmarketcap and coingcko have excluded the official ranking, even though the self-reported market evaluation of the PI network is currently more than $ 17.5 billion. Meanwhile, more volatility is expected due to rumors of potential listing on Benance.
On February 17, Benns Launched A community vote to list Pai, in favor of most respondents. The vote is estimated to end today, February 27, after which the exchange will confirm whether it will list the token. If approved, it can serve as a major catalyst for further price action.
