- Pi Network (PI) surged over 10% with a major spike in trading volume ahead of Pi2Day
- Technicals show PI attempting a breakout from a descending triangle, signaling bullish intent
- The rally is fueled by hype for the June 28 event and speculation of major announcements
Pi Network (PI) captured the market’s attention today, surging over 10% to stand out as a top performer alongside Stacks (STX) and Maple Finance (SYRUP).
The move came with a notable 14.88% spike in trading volume, reaching $131 million, while the market cap soared to $4.44 billion, making PI the 27th-largest digital asset by market capitalization, as per CoinMarketCap data.
This move comes alongside a generally bullish day for the crypto market, with Bitcoin holding near $106,000 and Ethereum trading around $2,400.
Is Pi Network Staging a Technical Breakout?
Chart analysis on the PI/USDT pair suggests a major descending triangle breakout may be in progress. Price action has pressed against the triangle’s resistance trendline, and today’s breakout attempt brings the pair close to a bullish inflection point.
Related: Pi Network Price Prediction for June 24 2025
The OBV (On-Balance Volume), while still negative, shows flattening out, indicating that selling pressure may have exhausted. Meanwhile, the Balance of Power (BoP) has flipped positive at 0.75, suggesting bullish control of the market.
If price decisively breaks above the descending trendline, $1.50 becomes a realistic upside target based on measured move projections.
Related: What’s Next for HYPE, TON, SHIB, and PI? Breakout or Breakdown?
However, analysts like Dr. Altcoin remain skeptical. He recently predicted a drop to $0.40 by August, citing weak fundamentals and overhyped events. But PI’s almost 10% jump today seems to counter that bearish narrative, at least for now.
What’s Driving the Bullish Sentiment?
Much of the excitement surrounds Pi2Day, scheduled for June 28, a symbolic event marking the network’s annual progress. Google Trends data shows search interest for “Pi2Day” peaking at 100 on June 21, reflecting massive anticipation.
Speculations about possible exchange listings, especially on Binance, and even a potential GenAI integration, teased by the Pi Core team, have pushed PI prices higher. The recent rollout of a long-awaited KYC sync feature has also improved user sentiment and addressed long-standing criticisms of the project.
Gainers Club: STX & SYRUP Join PI
Joining PI in the winner’s circle today are Stacks (STX) and Maple Finance (SYRUP). STX rose 5.2% following the June 18 Xverse update, which unlocked Bitcoin DeFi tools like staking, NFT minting, and lending access through the Stacks Layer 2.
SYRUP surged 17% to $0.5848, setting a new all-time high, driven by explosive growth in ecosystem metrics, including TVL which was up 433% YTD to $1.6 billion while ,monthly fees jumped from $568K in April to $2.7 million in May.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
