Pi Network price jumps 22% despite scam claims—self-reported market cap ranks it #11

Pi Network has challenged the wider slowdown in the cryptography market, increasing by 22% in the last 24 hours to be negotiated at only 10% below its top of all time.

Pi network (Pi) The price has increased 22% in the last 24 hours, trading at $ 1.90, according to Crypto.News. The 24 -hour negotiation volume has now exceeded $ 700 million. The current price is barely 10% shy Pi of all high time $ 2.10 paid on February 20 when it was launched. This despite the broader slowdown in the cryptography market, with the total market capitalization of 2% cryptography and many altcoins with losses on the 24 -hour delay, but not as bad as they are yesterday.

On the technical side, the PI price shows a strong bullish dynamic over the time of one hour, the price negotiating well above the exponential mobile average of 25 periods at $ 1.64. Before this wave, the price had consolidated between $ 1.50 and $ 1.70 from February 24 at the beginning of February 26, the 25 EMA acting as a dynamic support. Escape from $ 1.70 was supported by an increase in volume.

If this momentum continues, the next level of resistance is around $ 2.00. However, for confirmation of the additional increase, the price must contain more than $ 1.70 with a sustained volume. If the price fell, $ 1.64 (25 EMA) and $ 1.50 are key support levels to keep an eye on.

In addition to its high price performance, the self -declaced market capitalization of PI Network has now exceeded 12 billion dollars, which places it among the 15 first cryptos by market capitalization. However, the lack of independent verification for this market capitalization has raised concerns, and Coinmarketcap and Coingecko omitted the classification data.

In addition to market capitalization problems, Pi Network has faced criticism that it was a pyramidal program. Ben Zhou, CEO of Bybit, publicly called the a scam project targeting the elderly.

In addition, the consideration of Binance to list the PI network with the recent community vote aroused criticism of Colin Wufounder of Wu Blockchain. Wu has expressed its concerns that binance concentration on user recording and traffic could compromise its reputation and safety, in particular with the list of a controversial project such as PI Network.

Since February 22, Binance updated the results of his recent community vote at List the Pi tokenConfirming that the proposal had 86% support. However, its registration decision is still pending. The voting period of the Binance is ready to CloseFebruary 27 at 11:59 p.m. (UTC). If he is listed, it will probably be the main catalyst of the PI price in the coming days.