Pi Network Explodes 99% In A Week—Is This The Comeback Bulls Have Been Waiting For?

After weeks of sideways chop, Pi Network has finally cracked resistance, surging over 90% in the past 7 days to reclaim the $1.19 level at the time of writing.

This breakout follows a long period of consolidation between $0.57 and $0.61, with momentum now accelerating into key technical zones.

Pi Network Outlook

Price action on the daily chart shows PI breaking above both the 21-day EMA ($0.6833) and the 50-day SMA ($0.7354), flipping former resistance into support.

The RSI has entered overbought territory at 81.9, while MACD momentum continues to widen bullishly. Stochastic Oscillator readings above 79 confirm short-term overheating, but the trend remains intact for now.

Volume has exploded, with 24-hour trading exceeding $2.15 billion. PI rallied as high as $1.67 before pulling back modestly. This high-volatility burst comes as the Pi Core Team prepares a May 14 ecosystem announcement that could introduce new Mainnet utility or migration milestones.

Token Unlocks Cooling, But Supply Concerns Persist

Perhaps the most relevant driver behind the recent rally is the noticeable slowdown in token unlocks. According to PiScan data, daily emissions have fallen from over 13 million tokens per day to roughly 3.8 million in early May. Still, with over 100 billion tokens as the max supply and just 7 billion in circulation, dilution fears remain high.

Even with the slowdown, sell-side pressure hasn’t disappeared. Some early users are offloading entire wallets to bypass lockup mechanics, reflecting lingering skepticism despite ecosystem growth.

Technically, Pi must hold above $1.05–$1.10 to confirm a higher low and sustain bullish momentum. A clean retest of $1.35–$1.50 could follow if May 14 delivers on the hype. Failure to push beyond $1.67, however, could turn this move into another short-lived spike.

While no major exchange listings have been confirmed, speculation continues after Binance’s community voted to include PI in its ecosystem. A surprise listing remains a wild card catalyst that could send prices back toward February highs near $3.