Pi Network Goes Wild: $16 Billion Market Cap and a 70% Price Jump

Pi Network (PI) experienced a startling boom, with over $2.3 billion in 24-hour trading volume and its price increasing by 70%. The boom sent the market capitalization of Pi Network to approximately $16 billion with new all-time highs of nearly $31.

But volume totals vary by sources, with higher 24-hour volume posted by CoinGecko at $3.18 billion. It is because of the Open Network launch and reported listing on Binance.

Despite these developments, technical readings show potential volatility and resistance areas that could trigger a price retracement

Open Network Migration: Pi Network Achieves Decentralization

Pi Network migrated to its Open Network stage on February 20, 2025, reaching decentralization and opening it up to external connectivity, where users can transfer their holdings to external wallets and exchanges. The network has successfully achieved over 10.14 million Mainnet migrations and exceeded expectations as over 19 million users have successfully gone through KYC verification. In addition, Pi Network has built more than 100 Mainnet-ready applications, and the success of PiFest 2024, with 27,000 vendors and 950,000 transactions on Pi, shows its readiness for mass adoption

Technical Analysis: Decoding PIUSD's Bullish Momentum

PIUSD gained more than 400% in the past six days. The pair holds well above the short-term (34 and 55 EMA) and below long-term moving average. It hit a high of $2.997 and is currently trading around $2.91.

The bullish invalidation can happen if the pair closes below $1.33 On the lower side, the near-term support is $2.50. Any break below target $2.20/$2/$1.50.

The immediate resistance stands at around $3. Any breach above confirms bullish continuation. A jump to $3.50/$4 is possible. A surge past $4 will take it to $5.

It is good to buy on dips around $2.20  with SL around $1.50 for TP of $5.