The Pi Network currency (#pi ) recorded an unprecedented increase of 80% in the past 24 hours, reaching a price of $2.99#USDT , achieving its highest level ever. This strong surge comes at a time when digital markets have seen a general decline, with the price of Bitcoin dropping below $85,000.
This rise is attributed to a massive increase in the daily trading volume of the currency, which exceeded $3.2 billion, indicating intensive investment activity at the moment. Technically, indicators show a neutral state with a slight upward bias, as the price moves close to the exponential moving average (9-EMA), while the relative strength index (RSI) remains at 55.60, reflecting moderate momentum without reaching overbought or oversold territories.
Despite these strong results, the Pi Network remains a subject of widespread controversy, with some circles accusing it of being an unreliable pyramid scheme, while the circulating supply of the currency faces challenges for independent verification. These issues have led to its exclusion from official rankings on platforms like CoinMarketCap and CoinGecko, despite the Pi Network announcing a market valuation of over $17.5 billion.
As traders await the fate of the currency in major markets, the results of the voting launched by the Binance platform #Binance regarding the listing of the PI currency are approaching, with the final result expected to be announced today, February 27. If the currency's listing is approved, it could stimulate further price momentum and enhance its position in global markets.