Pi Coin Surges 7.06% as User Base Hits 60 Million

Pi Coin, a cryptocurrency that has gained significant attention in recent months, experienced a notable surge of 7.06% in the past 24 hours, reaching a price of $0.5355. This increase brought its market capitalization to $4.02 billion, marking a substantial rise from its previous levels. During this period, Pi Coin traded at a high of $0.5415 and a low of $0.4961, reflecting its volatility within the 24-hour window.

Experts attribute this surge to the news that the Pi Network has officially reached 60 million active users. This milestone is seen as a significant achievement for the network, as it indicates growing adoption and interest in the Pi Coin ecosystem. The surge in user numbers is likely to have bolstered investor confidence, leading to the price increase observed in the past 24 hours.

Despite this recent surge, Pi Coin has been on a slow but steady decline over the past 30 days, dropping from near $0.90 to its current level of around $0.53. This decline reflects weak momentum and pressure from sellers, although there have been signs of recovery in recent sessions. The cryptocurrency began this month at above $0.85 but soon entered a downward trend, with short bounces that did not last long. The prices reached their lowest point near $0.50, with a major price drop occurring around June 13, 2025, likely due to a large sell order or market panic.

In the past few sessions, Pi Coin has made a small upward move from around $0.51 to $0.54, crossing over some short-term moving averages. However, it is currently trading below the 20, 50, 100, and 200-day exponential moving averages, indicating a bearish trend. According to market experts, the nearest support level for Pi Coin is $0.2855. If it succeeds in reversing the trend, its most possible resistance levels are $1.3844, followed by $1.6438 and $2.0636.

Primary technical indicators for Pi Coin include a Relative Strength Index (14) of 36.2439, which is neutral, and a Commodity Channel Index (20) of negative 71.2525, also neutral. The MACD Level (12,26) is negative 0.0458, indicating a sell signal, while the Stochastic %K (14,3,3) is 50.6343, which is neutral. The Exponential Moving Average (10) is $0.5473, suggesting a sell signal, and the Average Directional Index (14) is 29.7899, which is neutral.

Back in March 2025, the market capitalization of Pi Coin reached above $17 billion. However, as of June 01, the market capitalization had decreased to $4.75 billion. The falling prices and market cap indicate that investors' confidence has weakened, and Pi Coin is now required to take necessary steps to boost the fading interest of its users. Its listing on mainstream exchanges could help it reach a broader audience and potentially reverse this trend.

Pi Coin registered its all-time high of $2.97 on February 26, 2025, and its lowest trading price to date was $0.4012, recorded on April 05, 2025. The recent surge in price and user numbers suggests that Pi Coin may be poised for further growth, but it will need to address the underlying issues affecting investor confidence to sustain this momentum.