Pi Coin (PI) has seen a notable 10.4% surge in the past 24 hours, currently trading around $0.48 to $0.51. This rebound is driven by a confluence of factors: a bounce from key technical support levels, rising momentum across the altcoin market, and fresh updates within the Pi Network ecosystem. However, the sustainability of this rally faces potential challenges from upcoming token unlocks and increasing exchange inflows.
Pi Coin successfully rebounded from its $0.44 support zone, reclaiming the 7-day simple moving average (SMA) at $0.47 and briefly touching the $0.52 mark. The 30-day SMA at $0.53 now acts as an immediate resistance level.
Several technical indicators have shifted to favor the bulls:
Pi's recent rally is also part of a broader altcoin resurgence. The total cryptocurrency market capitalization increased by 5.7% in the past day, while Bitcoin dominance slightly slipped to 63.8%. According to CoinMarketCap, the Altcoin Season Index surged by 25% this week, reflecting a significant rotation of capital into alternative assets.
Optimism surrounding upcoming U.S. crypto regulations, particularly the CLARITY Act, has further boosted market sentiment. Additionally, a short squeeze in the derivatives market, characterized by over $1 trillion in open interest and negative funding rates, likely forced bearish positions to unwind, amplifying upward pressure across altcoins.
The Pi Network continues to develop its ecosystem, driving renewed interest. The team recently rolled out version 0.5.3 of its Node software, which improves blockchain explorer integration and overall network reliability.
Furthermore, App Studio, despite still being in beta, is reportedly gaining significant traction, with over 10,500 applications currently under development within the Pi ecosystem. Community anticipation is also building ahead of the July 27 GCV (Global Consensus Value) event in India, which is expected to highlight Pi’s real-world transaction potential and progress toward broader utility. While the GCV is a community-driven initiative suggesting a much higher value, the event aims to showcase utility.
Despite the strong technical signals and ongoing ecosystem growth, some concerns remain. Exchange data indicates that approximately 7.67 billion PI tokens are already in circulation. More significantly, July commenced a large-scale token unlock event, with over 300 million PI tokens (specifically, 304.7 million PI, valued at over $150 million) gradually being released into circulation throughout the month. This substantial influx of new supply could create fresh selling pressure.
For Pi Coin to sustain its momentum above the $0.50 mark, the positive impact of the project's infrastructure upgrades and growing ecosystem traction will need to effectively outweigh the market impact of this increased token supply.
July 2025, Cryptoniteuae