# Pi Coin Soars 80% Amidst Speculation of Binance Entry
Pi coin has seen a huge price increase, rising almost 80% in the past day and reaching a new peak of $2.99.
As reported by crypto.news, this price jump for Pi Network (PI) corresponds with a large increase in trading activity, surpassing $3.2 billion within a 24-hour timeframe.
The token had previously fallen to a low of $1.65 during the same 24-hour period, but is presently trading at $2.95. This surge occurs as the wider crypto market is facing a downturn, with Bitcoin struggling beneath $85,000.
From a technical perspective, PI seems to be in a neutral to slightly positive position. A 5-minute chart reveals price movements around the 9-EMA, which is functioning as both support and resistance. The Relative Strength Index (RSI) at 55.60 implies neutral momentum, indicating neither overbought nor oversold situations.
Important price points to observe include $3.00 (resistance) and $2.90 (support). Staying above the 9-EMA could drive PI towards $2.95-$3.00, while a drop below $2.90 might change momentum to the negative.
Despite the rising value of Pi Network, debate surrounds the project because of claims of being a pyramid scheme. Industry leaders such as Bybit CEO Ben Zhou have condemned the project, calling it a fraud. Concerns have also been expressed about its unconfirmed circulating supply.
Major platforms like CoinMarketCap and CoinGecko have removed official rankings due to the absence of independent validation, even though Pi Network self-reports a market capitalization exceeding $17.5 billion. In the meantime, volatility is anticipated to increase further amid rumors of a possible Binance listing.
On February 17th, Binance launched a community poll regarding listing PI, with a majority of participants voting in support. The vote is scheduled to end today, February 27th, after which the exchange will announce whether it will list the token.
If sanctioned, it might represent a substantial impetus for pushing costs further upward. Toncoin (TON) Value Forecast for March 26th
