PI, the native token of Pi Network, has increased by over 9 percent in the past 24 hours. The sudden price surge pushed the price to a daily high of $0.8500 before stabilizing around $0.7993.
After a week of sideways movement, the price surge marks a significant change, signaling increased bullish interest in this token. PI started trading above the support level of $0.7350 and continued to surpass several resistance zones.
After surpassing short-term resistance areas at $0.7500 and $0.7750, the coin is poised to break above $0.8000. This token continues to gain strength as it approaches the $0.8500 and $0.8550 levels.
If the price confirms above $0.8000, it could lead to further gains in the coming days. Support at $0.7350 has recently led, and additional defensive measures at $0.7500 and $0.7750 have maintained the upward trend.
The Technical Breakthrough Raises Hopes, But Issues of Utility and Accessibility Persist
The recent price surge has attracted the attention of traders, but key barriers still challenge the wider adoption of the token. Since the Pi Network mainnet launched in February, many users have faced delays in accessing tokens due to a backlog in KYC verification.
These delays have led to growing frustration among early users, many of whom have yet to gain full control over their mined PI coins. The fact that most people still do not have easy access has hampered the project and its participation.
PI can be traded on websites like Bitget, Gate.io, and OKX but is still not available on major platforms like Binance and Coinbase. This limits the available cash flow and hinders access to a larger investor market.
The Pi Network Ventures Fund, initially valued at $100 million, has hardly any public participation. The fund's purpose in supporting the process within the PI ecosystem remains unclear.
According to Coincodex, PI could reach $1.76 and stabilize at $1.51 by 2025. Although these figures suggest a potential 100 percent increase, the long-term prospects mainly depend on the development of the ecosystem and easier access to the token.
Although the rising price of PI has created excitement about a sustained upward trend, the real momentum will be determined by efforts to improve access and usage of the platform.
