Pi Coin Soars 80% to New ATH as Binance Listing Rumors Ignite Frenzy!
Pi Coin has witnessed an explosive 80% surge in the past 24 hours, reaching a new all-time high (ATH) of $2.99. This remarkable spike comes amid heightened trading activity, with Pi Coin’s 24-hour trading volume surpassing a staggering $3.2 billion, according to data from the crypto.news price tracker.
Currently, Pi Coin is trading around $2.95 after hitting a low of $1.65 earlier in the day. This sharp increase is particularly striking given the broader cryptocurrency market’s downturn, with Bitcoin falling below $85,000. Despite the market-wide pullback, Pi Coin’s rally continues to gain momentum, defying overall bearish trends.
Technical Analysis: Pi Coin’s Price Action
From a technical standpoint, Pi Coin is exhibiting a neutral to slightly bullish bias. The 5-minute price chart shows fluctuations around the 9-EMA (Exponential Moving Average), which is acting as both a support and resistance level. The Relative Strength Index (RSI 14) currently sits at 55.60, indicating neutral momentum, with neither overbought nor oversold conditions.
Key levels to watch include $3.00 as immediate resistance and $2.90 as a strong support level. If Pi Coin sustains its position above the 9-EMA, it could push towards the $2.95–$3.00 range. However, if it drops below $2.90, the momentum could shift toward a bearish trend, triggering a potential retracement.
Controversies Surrounding Pi Network
Despite Pi Coin’s meteoric rise, the project remains a topic of debate within the crypto industry. Many critics, including Bybit CEO Ben Zhou, have labeled it a potential scam, citing concerns over its unverified circulating supply and lack of transparency. Leading crypto platforms such as CoinMarketCap and CoinGecko have refrained from providing official rankings due to the absence of independent verification.
Pi Network’s self-reported market valuation exceeds $17.5 billion, further fueling skepticism. Some industry experts warn that without verifiable data, investors should remain cautious.
Binance Listing Rumors Drive Volatility
One of the major catalysts behind Pi Coin’s recent price surge is speculation surrounding a potential Binance listing. On Feb. 17, Binance initiated a community vote to determine whether Pi should be listed. A majority of respondents have expressed support, and the final decision is expected today, Feb. 27. If Binance confirms the listing, it could drive further price action and increase market confidence.
As Pi Coin continues to attract attention, investors should remain vigilant, considering both its promising gains and the controversies surrounding the project. The coming days will be crucial in determining whether Pi’s rally is sustainable or merely a speculative frenzy.
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