Pi Coin's Price Has Surged Significantly in the Last 24 Hours, Reaching a Peak of Approximately $2.99

Pi Coin's price has surged significantly in the last 24 hours, reaching a peak of approximately $2.99. The rally follows speculation about a potential Binance listing.

Pi Coin’s price has soared significantly in the last 24 hours, reaching a peak of approximately $2.99. The rally follows speculation about a potential Binance listing, fueling a surge in trading volume, which has now attained 694.15K on OKX.

The token is currently being traded at $2.73, after moving in a range of $2.73 to $2.78 in the recent session. This increase stands in contrast to the broader crypto market, where Bitcoin has decreased below $85,000.

Pi Coin’s Technical Indicators Show Mixed Signals

Pi Coin’s price movement shows a neutral to slightly bullish trend. The 5-minute chart indicates that the price ispivoting around the 9-EMA, acting as both support and resistance.

At the time of writing, Pi Coin is showing technical indicators suggesting a cautious outlook. The Relative Strength Index (RSI) stands at 55.60, signaling neutral momentum. Key level to watch include $3.00 as resistance. If Pi Coin manages to sustain above the 9-EMA, it could push towards the next resistance at $3.00.

Binance Community Vote on Pi Coin Ends Today

On Feb. 17, Binance launched a community vote for the potential listing of Pi Coin. The voting period ends today, Feb. 27, and early results indicate that a majority of respondents vote in favor of the listing.

The exchange has yet to confirm its final decision regarding the listing. However, if Binance ultimately approves the listing, it could result in a further increase in Pi Coin’s price and trading activity. The final announcement from Binance is expected shortly after the vote concludes.

Pi Network Faces Ongoing Controversy

Despite the recent price surge, Pi Network continues to be a subject of controversy in the industry. Some prominent figures have expressed skepticism and concerns over the project’s legitimacy.

Bybit CEO Ben Zhou has openly called it a scam, and critics have argued that Pi Network operates like a pyramid scheme. Another major point of contention is the lack of independent verification for Pi Coin’s circulating supply.

This absence of verification has led to the exclusion of Pi from official rankings by platforms like CoinMarketCap and CoinGecko. However, according to Pi Network’s own figures, its market valuation is estimated to be over $17.5 billion.

Pi Network DMI Signals Strong Uptrend with Minimal Selling Pressure

The Directional Movement Index (DMI) for Pi Network shows a remarkable uptrend, with the Average Directional Index (ADX) surging from 12.3 to 57.7 in just one day. Such a sharp rise indicates a very strong trend, especially considering that ADX values above 40 are usually associated with significant momentum.

At the same time, the Positive Directional Indicator (+DI) experienced a substantial increase from 14.6 to 40.9, while the Negative Directional Indicator (-DI) underwent a decrease from 19.4 to 1.1. This stark contrast highlights an imbalance of strength, with buying pressure prevailing over selling pressure.

When +DI is significantly higher than -DI, it suggests a dominant bullish trend. If these indicators maintain their current levels, we can expect Pi Network to continue its upward price movement.

Will Binance List Pi Coin? Market Awaits Announcement

As the Binance vote concludes today, traders are eagerly awaiting an official statement from the exchange on whether they will proceed with listing Pi Coin.

If the listing is approved by Binance, it could have a significant impact on Pi Coin’s market performance in the coming days.

With the vote now closed and the final decision pending, we can expect some price volatility in the token as traders eagerly anticipate any announcement from Binance.