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Alejandro Arrieche
Author
Alejandro Arrieche
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Why Trust Cryptonews
Pi (PI) has skyrocketed 56% in the past 24 hours, reaching a new all-time high of $2.4441 just six days after its public exchange debut.
Despite an initial wave of selling pressure following the PI mainnet launch—which saw the token plummet to $0.6483, marking a 64.6% drop from its peak—PI has staged an impressive recovery, signaling renewed investor interest.
However, the price started to recover progressively during the weekend despite the sell-off triggered across the entire crypto market amid the Bybit hack.
PI Defies Market Sell-Off as it Surges by 57.2%
Since the start of the week, PI has climbed from $1.63 to $2.41, delivering a 57.2% gain in just three days. Even those who bought at the February 20 peak are now back in positive territory.
PI’s ability to reach a new all-time high is notable, given the broader market’s bearish sentiment and initial skepticism surrounding the project.
Many critics labeled it a potential rug pull after the token’s sharp decline following its exchange debut.
Despite this, trading volumes have surged by 47.5% in the past 24 hours alone, reaching $929.6 million. PI’s market cap now stands at $12.5 billion, placing it as the 10th largest cryptocurrency—surpassing established projects like Litecoin (LTC), Chainlink (LINK), and Sui (SUI).
However, PI’s circulating and total supply remain unverified by CoinMarketCap. According to the project’s official website, PI has a total supply of 10.11 billion tokens and a circulating supply of 6.57 billion.
PI tokens are generated through mining, which is done via smartphone in a low-energy process designed to minimize battery consumption—an innovation that sets it apart from traditional proof-of-work cryptocurrencies.
From a technical standpoint, the daily chart shows that the token broke above the $1.70 resistance just a few hours ago as positive momentum accelerated in the past few hours.
The Relative Strength Index (RSI) has spiked to oversold levels at 88, which is an extreme reading that may anticipate an upcoming pullback as early buyers prepare to take profits.
The $1.70 level should now serve as a key support zone if PI undergoes a correction in the coming hours. However, momentum indicators continue to signal a bullish trajectory for the token, suggesting further upside potential.
As the crypto market evolves, other innovative projects are emerging with solutions to persistent industry challenges.
Solaxy Enters Final Days of Its Presale Event with $23M Raised
Solaxy ($SOLX) has been gaining significant traction since its presale launched in December, with investors drawn to its mission of enhancing Solana’s scalability and efficiency.
The necessity for a robust Layer-2 solution became evident in late January when the launch of Official Trump ($TRUMP) led to network congestion, transaction delays, and errors—highlighting Solana’s limitations during peak demand.
By bundling transactions offline, Solaxy eases mainnet congestion while positioning $SOLX holders to benefit as adoption of the Layer-2 solution grows.
To buy $SOLX, head to the Solaxy website and connect your wallet (e.g. Best Wallet).
You can either swap USDT, ETH, or BNB tokens or use a bank card to make your investment.
