PI Network's IoU Price Surges 78% Ahead of Open Network Launch

Coin WorldThursday, Feb 13, 2025 1:01 pm ET
1min read

PI Network (PI) IoU Price Surges 78% Ahead of Open Network Launch

The price of PI Network (PI) IoU has surged by 78% between February 9 and February 12, ahead of the project's Open Network launch on February 20. This sharp increase comes as anticipation builds for the launch, which is expected to bring significant changes to the PI ecosystem.

However, it's important to note that the current price is not a real price but an IoU price, which represents an "I Owe You" (IOU) contract. This type of price is commonly used for assets that are not yet fully tradable on exchanges.

The project's upcoming launch has also attracted legal scrutiny, with experts issuing warnings about potential regulatory risks. As PI's price momentum remains volatile, technical indicators now suggest that the asset could either extend its rally or face a significant correction.

PI DMI Shows The Trend Is Easing, But It’s Still Strong

The project’s Directional Movement Index (DMI) shows a notable shift in momentum. The Average Directional Index (ADX) is currently at 46.6, down from 56.9 yesterday. This comes after a rapid surge from 19.1 in just five days, highlighting a period of strong trend development. ADX measures the strength of a trend rather than its direction, with values above 25 typically indicating a trending market and readings above 50 suggesting an exceptionally strong trend.

The recent decline from its peak suggests that while the trend remains intact, its strength is starting to cool off, potentially signaling a transition phase. Meanwhile, the +DI (positive directional index) has fallen sharply to 27.5 after reaching 57 just two days ago, indicating that buying pressure has eased considerably. At the same time, the -DI (negative directional index) has climbed to 13.5 from a low of 1.38, reflecting an uptick in selling pressure. Despite this shift, the uptrend remains intact as +DI is still above -DI, meaning buyers maintain control for now.

However, the sharp contraction in +DI and the rising -DI suggest that bullish momentum is weakening. If this trend continues, it could lead to a more balanced or even corrective phase for PI’s price movement.