Pi Network Surges 70% in 24 Hours, Market Cap Hits $16 Billion

Pi Network (PI) has surged over 70% in the past 24 hours, pushing its market capitalization to $16 billion and its trading volume to over $2.3 billion. The token has reached new all-time highs near $3, signaling a volatile path ahead.

The Pi Network's Directional Movement Index (DMI) has shown remarkable momentum, with its Average Directional Index (ADX) surging to 57.7 from just 12.3 a day ago. This dramatic increase in Pi's ADX from weak to very strong territory indicates a significant intensification in the underlying trend's strength. Complementing this ADX surge, Pi's Positive Directional Indicator (+DI) climbed sharply to 40.9 from 14.6 two days ago, while its Negative Directional Indicator (-DI) plummeted to 1.1 from 19.4 in the same period. When +DI is significantly higher than -DI, as is currently the case with Pi, it confirms a strong bullish trend. The combination of a high ADX value with a wide spread between +DI and -DI suggests Pi Network is experiencing a particularly powerful uptrend with minimal selling pressure.

Despite the ongoing price surge, Pi's Bollinger Bands Trend indicator (BBTrend) has plummeted to -11, marking a dramatic decline from its reading of 51.2 just three days ago, after hovering between 1 and 3 yesterday. This sharp decline to -11 in Pi's BBTrend could signal that the current uptrend is becoming significantly overextended and potentially vulnerable to a correction or consolidation phase. When BBTrend turns notably negative after a price surge, it often indicates that the asset has moved too far too quickly and is now trading at levels that may be unsustainable in the short term. This technical warning sign suggests that Pi might experience a pullback toward its middle Bollinger Band, a period of sideways consolidation, or at minimum, a deceleration in its upward momentum.

Pi Network price reached new all-time highs just hours ago as its price approached the $3 mark for the first time. With this strong upward momentum, Pi could potentially continue its ascent, breaking through the $3 psychological barrier and testing higher resistance levels at $3.5 or even $4 in the near term. This impressive rally demonstrates growing market