Pi Network Token Surges 20%: Bullish Momentum or Short-Lived Spike?

Pi Network’s native token has experienced a significant rally, climbing by 18.46% in the past 24 hours to reach a peak price of $0.63. This marks the highest price point in a gradual upward trend that began several days ago. Over the last week, the token has gained approximately 14%, drawing increased attention from traders and investors alike.

The spike has also driven the token’s daily trading volume up by over 35%, now exceeding $186 million. Correspondingly, the market capitalization of Pi Network has surged by 19.06%, reaching a total value of about $4.74 billion.

Upcoming Pi2Day Event Fuels Price Rally

Market watchers believe the rally is largely driven by excitement surrounding Pi Network’s upcoming Pi2Day event scheduled for June 28, 2025. The project’s core team recently hinted at the integration of generative AI features, which has piqued investor interest. A June 21 announcement teased the involvement of co-founder Nicolas Kokkalis in a GenAI panel at Consensus 2025, suggesting that new technology innovations may soon be unveiled.

Analysts Warn of Potential Price Correction

Despite the recent gains, analysts caution that the rally may be short-lived. Technical indicators like MACD and RSI are showing signs of weakening momentum, while hype-driven price cycles often precede corrections in crypto markets.

Additionally, a substantial token release is expected in July when the Pi Network team plans to unlock over 268 million PI tokens—the largest monthly distribution planned until 2027. This increase in circulating supply could exert downward pressure on the token price.

Traders have identified resistance levels near the current price point, indicating the possibility of a pullback to support zones between $0.57 and $0.60.

Recent Price Recovery After Major Drop

Earlier this week, Pi Network’s token rebounded by around 5% after suffering a steep decline of nearly 70% from its previous all-time high. The bounce saw prices recover from a daily low of $0.5126 to a high of $0.552, showcasing ongoing volatility amid market uncertainties.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.