Pi Network Surges Following Post-Sell-Off Rally, But Concerns Remain

Pi Network (PI) price surged by 12.56% to reach $0.6230 after a sharp correction following a recent sell-off. The token’s market cap now stands at $4.63 billion and volume reached $103.5 million, indicating heightened trading activity. Technical analysts suggest that the current price rally is a result of short-term traders identifying Fibonacci support levels, leading to accumulation bids. 24-hour trading volume increased by 54%, signaling growing interest in the token. 50% increase in market cap ratio suggests heightened trading intensity.