The native token of the controversial yet popular crypto project Pi Network continued its strong performance over the past week, recording fresh gains in the last 24 hours.
According to Gate data, Pi Coin briefly surpassed $0.25 before settling just below that level, marking a 6% daily increase and a 10% weekly gain. The price spike pushed PI’s market capitalization back above the $2 billion mark, making it the 61st-largest cryptocurrency and surpassing the well-known meme coin Pepe (PEPE).
The recent surge appears linked to a rumor from the X account Pi Network News, an unofficial source reporting on the project’s ecosystem. The post claimed that many Pioneers may face a “pivotal moment” on November 28 due to a major update. The message encouraged users to “stay informed, stay proactive, and grasp the opportunity.”
X users commenting on the post expressed confusion over the specifics of the update, but the message nonetheless sparked optimism, with some indicating plans to buy PI tokens.（CryptoPotato）
However, the rally may be short-lived. Without concrete details from the official Pi Network account, excitement could fade, and upcoming token unlocks suggest that bearish pressure might return, potentially challenging the token’s recent gains.
Overall, Pi Network’s performance highlights market enthusiasm ahead of the rumored update, but investors should remain cautious given the lack of official information.
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