PI, the native token of Pi Network, surged by over 9 percent in the last 24 hours. The sudden rally pushed the price to a daily high of $0.8500 before stabilizing near $0.7993.
After a week of sideways movement, the surge marks a significant shift, signaling growing bullish interest in the token. PI started the session above support at $0.7350 and went on to clear several zones of resistance.
After passing short-term resistance areas at $0.7500 and $0.7750, the currency was poised to break above $0.8000. The token continued gaining strength while approaching the $0.8500 and $0.8550.
If the price confirms above $0.8000, it could result in additional gains in the coming days. Support at $0.7350 has recently led the way, and additional defenses at $0.7500 and $0.7750 have kept the uptrend on track.
Source: CoinMarketCap
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Technical Breakout Fuels Hopes, But Utility and Access Issues Linger
The recent price spike has caught traders’ attention, but key hurdles still challenge the token’s broader adoption. Since the Pi Network mainnet launched in February, many users have faced delays in token access due to KYC verification backlogs.
These delays have led to growing dissatisfaction among early users, many of whom have yet to gain complete control over their mined PI coins. The fact that most people do not yet have easy access holds back the project and its engagement.
PI can be traded on sites like Bitget, Gate.io, and OKX but remains absent on big platforms like Binance and Coinbase. It reduces the available cash and prevents reaching a larger investor market.
The Pi Network Ventures fund, originally worth $100 million, has mostly avoided public involvement. Its purpose in supporting progress in the PI ecosystem is not clear.
According to Coincodex, PI may reach $1.76 and settle at $1.51 by 2025. Although these numbers suggest a potential 100 percent increase, the long-term depends mainly on the development of the ecosystem and easier ways to access tokens.
Although the rise in PI price has led to euphoria about a prolonged upward trend, the actual momentum will be determined by efforts to improve accessibility and use of the platform.
Also Read: XRP Bulls on Edge as Critical $2.20 Support Threatens to Collapse
