Pi Coin Surges 12.28% Ahead of Pi2Day Announcements

Pi Coin has experienced a significant surge, rising 12.28% in the past 24 hours to reach $0.6004. This surge is largely attributed to the anticipation surrounding Pi Network’s annual Pi2Day, scheduled for June 28. The event is expected to unveil several transformative updates, including an enhanced Know Your Customer (KYC) process, progress on the mainnet roadmap, expansion of decentralized applications (dApps), and integration with generative AI technologies. These updates have sparked considerable excitement within the crypto community, with investors closely monitoring the developments.

In addition to the upcoming updates, speculation about Pi’s potential listings on centralized exchanges has further intensified investor interest. This speculation, combined with the buzz around Pi2Day, has created a bullish sentiment that could drive Pi Coin to new heights. The crypto community is eagerly awaiting what could be Pi’s most pivotal moment yet, as the potential for significant price movements looms.

Pi Coin’s price action has shown remarkable strength in the past 24 hours. On the 4-hour chart, Pi broke out decisively above the upper Bollinger Band at $0.5868, validating strong bullish momentum. The price reached a 24-hour high of $0.6083, significantly above the 20-period Simple Moving Average (SMA) of $0.5229. This indicates that bulls have taken short-term control of the market. The Relative Strength Index (RSI) has surged to 80.38, entering the overbought zone for the first time in weeks. Historically, Pi has respected RSI resistance levels, making the current reading a notable sign of excessive demand. While this could lead to short-term consolidation or profit booking, the strong upward candle and increasing volume suggest that Pi could test the upper resistance near $0.65, followed by $0.70. Conversely, the immediate support lies around the $0.586 breakout point.

The surge in Pi Coin’s price is driven by the anticipation around Pi2Day, with the Pi Network team expected to reveal key developments. The RSI at 80.38 signals that Pi Coin is in overbought territory, which could lead to short-term corrections or consolidation. If bullish sentiment holds, Pi may target the $0.65–$0.70 range. However, a drop below $0.586 could signal a temporary pullback. The crypto community is closely watching these developments, as they could significantly impact Pi Coin’s price in the short term.