Explosive PI Token Rally: What’s Driving the Surge?

Explosive PI Token Rally: Bullish Momentum Building!

Pi Network’s PI token has seen a notable upswing, rising 18.06% over the last day to $0.7375, while trading volume has increased by 169.50%. This PI token rally reflects the strength of the larger cryptocurrency market, as Ethereum cleared $2,200 and Bitcoin recovered $103,000.

Technically, at $0.6291, PI has surpassed its 20-day Exponential Moving Average (EMA). More significantly, it broke through crucial resistance between $0.66 and $0.67, supported by robust volume that attests to strong buying demand. The $0.85–$1.00 zone may be PI’s next goal if it maintains its current breakthrough.

Sudden 5 Billion PI Token Surge: Market Reacts to Supply Anomaly

The market has taken notice of an odd, short-lived increase in the amount of PI tokens in circulation. The circulating supply increased by 5 billion tokens (from 7 billion to 12 billion) for a brief period before swiftly declining, according to analyst Dr. Altcoin. However, the supply of PI tokens on exchanges was unaffected by this modification.

Why PI Token’s Price Might Double After August?

This brief spike is thought to be a stress test of a recently created 5 billion Pi liquidity pool, even if the supply that was available on exchanges stayed the same. With Binance, BitMart, and HTX mentioned as potential listings on major cryptocurrency exchanges, this step strongly suggests that preparations are underway for such listings.

According to Dr. Altcoin, the price of the PI token may remain at $1 until about May 14. By the end of August, good news about exchange listings might push the PI token up to $2.

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