You Won’t Believe What Happened to Pi Network (PI) After an 11% Surge

by

So, Pi Network (PI) is making waves again—surging 11% after over 86 million tokens were yanked out of OKX, leaving the platform with only 21 million. People are already calling it a “supply shock,” but you know what they say—when there’s smoke, there’s probably someone blowing smoke somewhere. So, is this a move orchestrated by some savvy big players or just a lot of folks getting excited over nothing? The jury’s still out.

Now, we’ve got the DMI and EMA indicators giving us some hope, suggesting a potential “golden cross” might be in the works. But let’s be real, these things can change quicker than your Netflix recommendations. For now, though, it looks like we could be in for a breakout. But, hold your horses, not all the signals are green. Volume-based metrics like the CMF are still showing some hesitation, which means the next few days are absolutely crucial for PI’s fate. 🎢

Is Pi Network Really on a Rally or Just a Temporary Hype? Let’s Break it Down.

So, Pi Network (PI) jumped 11% after more than 86 million tokens were pulled from OKX, reducing its reserves to a measly 21 million. And of course, that sent the rumor mill into overdrive, with whispers of a “coordinated supply squeeze” floating around. Some people are treating this like it’s some brilliant strategic move by the whales—because, naturally, all of this must be part of some genius master plan, right? 💸

The community on X is all pumped up, calling it a “power move,” though no one’s quite sure what’s actually powering this move. Pi’s at the top of CoinGecko’s trending list, but let’s not forget that there are still lingering questions about the long-term prospects—like its mainnet rollout, exchange listings, and whether anyone’s actually going to use this thing. 🤷‍♂️

From a technical perspective, the DMI is showing some strength—like, “Hey, we’re not just playing around here!” The ADX, which tracks trend strength, went from 12.46 to 16.6 in just a day. Now, typical traders might say, “Hey, over 20 means a solid trend is building,” and sure, let’s go with that for now. But keep in mind, when it hits 25, that’s when it gets serious. 🙄

Looking at the +DI and -DI lines, we see that the bulls are gaining ground and the bears are…well, taking a nap. It’s clear that PI’s starting to build momentum—whether it holds up or not is anyone’s guess. 🤔

PI CMF Drops After Brief Spike, Is This the End of the Party?

Okay, don’t get too excited—PI’s CMF just dropped to -0.03. Yeah, that’s not exactly what you want to see after an 11% surge. The CMF is like a mood ring for buying and selling pressure—when it’s above zero, it’s all good. Below zero? Well, not so much. PI’s CMF was as high as +0.09 yesterday, but now it’s back in the dumps. 😬

What does this mean? It’s simple: the bulls are losing their grip. We could be seeing some indecision in the market. If the CMF swings back up, then we might be back on track. But, if it doesn’t? Well, let’s just say the party might be over. 🥳➡️💀

For now, PI is stuck in a bit of a limbo—buyers haven’t quite taken control. To really see this thing go anywhere, the CMF needs to push positive and stay there. Fingers crossed! 🤞

Golden Cross on the Horizon, But Don’t Start Celebrating Just Yet

Here’s the thing: Pi Network’s EMA lines are starting to look like they might form a golden cross. That’s when a short-term EMA crosses above a long-term EMA, signaling a potential sustained uptrend. Nice, right? Sure, but let’s not get too carried away.

If it happens, PI could gain enough steam to break through resistance at $0.96. A move above that and we’re talking about pushing towards $1.30—maybe even $1.67 if everything goes perfectly. But again, this is a big “if.” 🤷‍♂️

And of course, if the momentum fades? Don’t be surprised if PI retraces to test support at $0.66. Break below that, and well, we might be heading back to $0.57—where the bears will throw their little party. 🐻🎉

So, while things look optimistic for now, traders are going to be watching the golden cross and resistance levels like hawks. It’s not over till it’s over, folks. 🦅

Read More

2025-05-22 01:57