Pi Network’s PI Token Shows Bullish Divergence, Potential 240% Rally Ahead

Pi Network's native token Pi is currently trading at $0.36 after reaching a peak of $3 earlier this year. Technical indicators now suggest a potential 242% surge to $1.23. Analyst JAVON MARKS has identified a hidden bullish divergence in the MACD indicator as the primary catalyst for this projected rebound.

Community sentiment remains divided, with MOON JEFF arguing that PI remains in its accumulation phase and predicting an eventual breakout to new all-time highs. However, the looming threat of 445 million tokens hitting exchanges along with substantial unlocked supply could potentially counteract bullish momentum.

The token's volatile debut and subsequent 88% retracement present both significant opportunity and risk. Current technical patterns indicate accumulation at these levels, though macroeconomic factors and exchange reserves may ultimately dictate the sustainability of any upward movement.