Key Notes
- Dr.
- Altcoin cited unusually large transfers from major exchanges like Gate.io and OKX without corresponding investor demand for Pi coin.
- Pi coin trades within a falling broadening wedge pattern, suggesting potential for a bullish reversal if it breaks above $0.28.
- Pi Network continues testing its Protocol V23, with mainnet rollout expected in Q4 2025.
Following weeks of sideways movement and selling pressure, Pi Network’s native cryptocurrency Pi PI $0.24 24h volatility: 15.7% Market cap: $2.02 B Vol. 24h: $138.20 M has jumped 25% in the past 24 hours amid a massive crypto market rally.
Market analysts see this upside with some skepticism, while highlighting some signs of market manipulation.
Is This Pi Coin Price Rally Sustainable or Another Market Manipulation?
The Pi coin price has jumped 25% today, shooting all the way to $0.29, and is currently around $0.25 as of press time.
Today’s price rally comes with a massive 1,080% surge in daily trading volumes to $114 million. This clearly highlights a strong bullish sentiment among traders.
Despite the recent rebound, the token remains down more than 40% over the past three months, indicating that the broader Pi downtrend is still intact.
Analysts note that while the latest move appears strong, it may represent only a short-term recovery within a larger bearish structure. For the Pi coin price rally to continue, it must break some key resistance levels on the upside.
Some market experts and the Pi community have also advised investors to be careful following the recent rally.
Crypto analyst Dr. Altcoin has issued a cautionary note, warning of potential market manipulation in recent trading activity.
According to the analyst, large volumes are being transferred from Gate.io, Banxa, OKX, and PTC accounts, without corresponding signs of significant buying from genuine investors.
Dr. Altcoin advised traders to compare the percentage increase with other major cryptocurrencies to assess the legitimacy of the move.
On the other hand, Pi Network has been conducting extensive testing of its Protocol Version 23 upgrade on the testnet over the past month.
Analysts anticipate that the mainnet launch could take place in the fourth quarter of 2025, introducing significant improvements in scalability and transaction efficiency to the blockchain.
Key Levels to Watch for Pi Token Ahead
On the daily chart, the Pi price continues to trade within a falling broadening wedge, a pattern often associated with potential bullish reversals.
This formation usually develops during prolonged downtrends, indicating that selling momentum may be weakening.
Currently, the Pi coin price faces a key resistance zone at $0.28. While short-term indicators suggest a move toward $0.27, a sustained rally is likely only if the token manages a decisive breakout above $0.28.
Pi coin price chart eyes breakout. | Source: TradingView
A daily close above $0.28 would confirm the breakout, potentially paving the way for a move toward $0.36 , representing a 41% upside from current levels.
However, failure to clear this resistance could invite renewed selling pressure, with a drop below $0.20 exposing the token to further downside toward $0.15.
