- Pi Network (PI) surged 48% in 24 hours with a trading volume jump of 172%, reaching $1.38.
- The token broke above key resistances at $0.78 and $1.12, with RSI hitting 88.89 and MACD turning bullish.
- A major Pi ecosystem announcement is scheduled for May 14, alongside speculation about CEX listings.
Pi Network (PI) registered a massive 48% gain in the past 24 hours and is currently trading at $1.38, as per CoinMarketCap data.
This Pi Network price surge sees what began as a quiet project with limited exchange listings rapidly morph into a top contender. Pi Network now boasts a market cap of $9.74 billion, enough to leapfrog Hedera (HBAR), Toncoin (TON), Shiba Inu (SHIB), and Stellar (XLM).
With Avalanche (AVAX) currently sitting in the 13th spot at $10.6 billion, Pi appears to have its eyes firmly set on a top 10 position.
A Strong Technical Breakout Backed by Massive Volume for PI Coin
Pi has reclaimed both the 20-day EMA ($0.7604) and 50-day EMA ($0.8550)—a strong bullish signal suggesting further upward movement. The breakout began after the token rebounded from its April low of $0.40, accelerating when it smashed through $0.78 resistance, followed by a clean breakout above $1.12.
Related: Pi Network Brings Key Updates to Consensus 2025 With 55M Users and Mainnet Live
The volume explosion (+172% to $1.34 billion) validates this move, with traders piling in amid growing FOMO (fear of missing out). Notably, the RSI on the 4H chart has entered overbought territory at 88.89, but that hasn’t dampened buying pressure, at least for now.
Meanwhile, MACD shows a widening bullish gap with the MACD line firmly above the signal line, indicating continued momentum. The current bullish momentum could push Pi toward the $1.50 resistance, with $2 acting as the next major psychological and technical barrier.
Market Catalysts: Listings, Supply Burn, and Ecosystem Buzz
Pi’s price surge follows a recent tease from the core team of an announcement scheduled for May 14, sending market participants into a buying frenzy. Adding fuel to the fire are rumors of major exchange listings–with names like Binance, Coinbase, and Upbit being thrown around.
Related: Cold Wallet Support Arrives for Pi Network: Top 2 Ways to Secure Your PI Tokens
Moreover, talks of a potential token burn have intensified. If the circulating supply gets reduced significantly, it could tilt the supply-demand dynamics even more aggressively in bulls’ favor.
PI also shot up with the broader crypto market with Bitcoin crossing the $100,000 price level after months of consolidation.
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