Pi Network rise 19%: Can it reach the $1 level in the future?

Pi Network has returned to the attention of cryptocurrency with a strong bullish increase of 19% in the past 24 hours, reaching $0.63. This surge is driven by the growing excitement surrounding the upcoming Pi2Day event and a significant increase of 153% in trading volume to $285.65 million. The coin is currently holding a top trending position on various cryptocurrency platforms. Analysts signal breakthrough potential before Pi2Day According to cryptocurrency analyst Kim H. Wong, the price action of Pi is laying the groundwork for a potential breakout at the resistance level of $0.65. If broken, Wong believes PI could quickly rise to the range of $0.80 to $1. With an all-time high of $3 and a recent low of $0.40, there is still plenty of room for growth. Joe Swanson, another analyst, also agrees with this view, stating that this price behavior aligns with his predictions. "This could be the beginning of a bullish trend lasting several weeks," he noted, especially with Pi2Day 2025 just three days away. Pi2Day, the annual event observed by the Pi community, is expected to have updates on the expansion of the ecosystem, integration of GenAI, and upgrade of KYC, which could further drive the bullish momentum. Technical indicators support short-term strength While the long-term indicators still show weakness, the short-term chart patterns of Pi Network are very promising: Short-term moving average (10/20/30 days): Strong buy signalLong-term moving average (50/100 days): Still in bearish territory This currency is currently fluctuating around the breakthrough level of $0.65, and if it successfully breaks through, it could confirm a medium-term target near $0.80 or even $1, depending on the market's reaction to the developments of Pi2Day. The accumulation of whales and the benefits of organizations The bullish trend of Pi seems to be driven by the accumulation of whales. On-chain data shows an accumulated wallet of over 173 million PI, which may indicate institutional involvement or strategic positioning ahead of Pi2Day. The Pi community is also buzzing about the upcoming KYC Sync feature, which will allow users to link their IDs between the Pi App and the Pi Browser, making the transition to Mainnet easier for millions. But the risks remain: Token Unlock is at a critical stage. Despite the optimism, analysts are urging caution. Cryptocurrency strategist Dr. Altcoin emphasizes that while Pi has strong bullish potential, a correction could occur after the current hype. A major concern is the upcoming unlocking of over 268 million PI tokens in July, the largest release until 2027, which could put selling pressure on the token. However, he noted that the recent ceasefire between Israel and Iran has restored some investor confidence in high-risk assets. Dr. Altcoin expects steady increases to begin at the end of August as the impact of the unlocking eases. Final thoughts With Pi2Day approaching and the growing excitement around the potential integration of AI and KYC, Pi Coin is at a critical juncture. If it can maintain its momentum, break through the resistance level of $0.65, and successfully capitalize on the upcoming events, the dream of $1 Pi may no longer be out of reach.