While the broader crypto market stumbles, Pi Network is charging ahead, jumping 22% in the last 24 hours to hit $1.90—putting it just 10% below its all-time high of $2.10, set back on February 20 when it first launched. According to CoinMarketCap, trading volume has soared past $700 million in that span, a bright spot against a gloomy backdrop where the total crypto market cap dipped 2% and most altcoins took a beating, though not as hard as the day before.
Zooming in on the charts, Pi’s got some serious momentum going. On the one-hour timeframe, it’s riding high above its 25-period exponential moving average (EMA) at $1.64, a level that’s been a springboard for this breakout. From February 24 to early February 26, the price was stuck bouncing between $1.50 and $1.70, with that $1.64 EMA holding firm as support. Then came the push past $1.70, backed by a swell in volume, signaling the bulls mean business. If this keeps up, $2.00 is the next hurdle to watch—though it’ll need to stay above $1.70 with steady volume to lock in the gains. If it stumbles, $1.64 and $1.50 are the safety nets traders are eyeing.
Beyond the price action, Pi Network’s claiming a self-reported market cap topping $12 billion, enough to land it in the top 15 cryptos. Trouble is, that number’s unverified, and big players like CoinMarketCap and CoinGecko aren’t touching it with a ten-foot pole, leaving its ranking off their lists. That’s not the only heat Pi’s taking—Bybit’s CEO Ben Zhou has slammed it as a scam aimed at older folks, and whispers of it being a pyramid scheme won’t quit.
Then there’s the Binance buzz. The exchange’s community vote to list Pi Network’s token is wrapping up tomorrow, February 27 at 23:59 UTC, and it’s sitting pretty with 86% support as of February 22. But not everyone’s cheering—Colin Wu of Wu Blockchain warns that Binance chasing hype and traffic with a dicey project like Pi could dent its cred and security. Still, if that listing goes through, it could light a fire under Pi’s price in the days ahead.
