Pi Network Token Skyrockets 20% Overnight, But Analysts Sound the Alarm

Hang onto your hats, crypto fans! The Pi Network token just blasted off, spiking nearly 20% in the last 24 hours. But hold up—experts are waving red flags, hinting at a potential nosedive on the horizon.

Get this: Pi (PI) token's value has rocketed up by a whopping 18.46% in just a day. Right now, it's trading at a sizzling high of $0.63. That's the peak of a slow but steady climb that kicked off days ago. Over the last week? A solid 14% gain!

The Pi price surge is no joke, boosting the daily trading volume by over 35% from the day before. We're talking about a jaw-dropping $186 million in trades right now.

And check this out—its market cap has jumped 19.06% post-surge, hitting $4.74 billion. That's some serious cash!

So, what's fueling this fire? Word on the street is that the upcoming generative AI features teased by Pi Network's core team might be the spark. They dropped a hint on June 21 about some big reveal coming at the Pi2Day event on June 28.

"How is GenAI related to Pi Network? Why did one of two Pi Founders, Nicolas Kokkalis, join a GenAI panel at Consensus 2025? You'll find out on Pi2Day (6.28.2025)," they teased.

Is a Pi Network Correction Looming?

But wait, don't pop the champagne just yet. Analysts are sounding the alarm about a possible correction that could slam the brakes on this rally. They're pointing to technical indicators and hype cycles that might be driving this surge, but it could all be a flash in the pan.

Here's the kicker: in July, the core team is set to unleash over 268 million PI tokens—the biggest monthly dump until 2027. That flood of tokens could tank the price as they flood the market.

And it gets worse. Some analysts are spotting signs of weakening in bullish indicators like MACD and RSI. Traders are eyeing key resistance levels that could trigger a slide, potentially dragging the price down to $0.57 to $0.60.

Just a few days back, Pi Network managed to bounce back by 5% after a brutal 70% drop from its previous high. It clawed its way up from a daily low of $0.5126 to a high of $0.552.

Disclaimer: This article isn't investment advice. It's just here to school you on what's happening in the wild world of crypto.