Pi Network price is up 18%, is a correction on the horizon?

The Pi Network token is on the rise, spiking by nearly 20% in the past 24 hours. However, analysts warn of bullish indicators in the market that could lead to a potential price drop.

According to data from crypto.news, the Pi (PI) network’s token has surged by 18.46% in the past 24 hours. It is currently trading hands at a peak price of $0.63. This marks the highest point in a slow-moving rally that started a few days ago. In the past week, the network’s token has seen a rise of 14%.

The recent spike in Pi price has led to a boost in daily trading volume by more than 35% compared to the previous day. The token’s trading volume currently stands at more than $186 million.

Meanwhile, its market cap has seen a 19.06% increase after the price surge. Its market cap currently stands at $4.74 billion.

The recent surge in pricing may be due to the upcoming generative AI features previously teased by the project’s core team. In a post shared on June 21, Pi Network teased a reveal for the upcoming Pi2Day event on June 28.

“How is GenAI related to Pi Network? Why did one of two Pi Founders, Nicolas Kokkalis, participate in a GenAI panel at Consensus 2025? Answer on Pi2Day (6.28.2025),” wrote the account.

Is a Pi Network correction coming?

However, many analysts warn of a potential incoming correction that could stop the rally in its tracks. Market indicators point to technical indicators and hype cycles that are currently fueling the rally, unfortunately it might be short-lived.

In July, the core team is planning to unlock over 268 million PI tokens, which is the largest monthly release until 2027. This token drop could lead to a pressure in the price, due to the increased token circulation.

Not only that, some analysts note that bullish indicators, such as MACD and RSI, are showing signs of weakening. Some traders have recognized key resistance levels that could trigger a slide toward the next support, which could drag the price down to a range of $0.57 to $0.60.

As previously reported by crypto.news, the Pi Network’s was able to bounce back by 5% earlier this week after falling 70% from the previous high. The token was able to climb up from a daily low of $0.5126 to as high as $0.552.