Pi Coin Price Soars Over 60% Amid PiFest 2024 Kickoff
The value of Pi Coin, an IOU cryptocurrency linked to the Pi Network, surged by more than 60% within 24 hours, hitting a peak of $86.15 before stabilizing near $64.18, according to CoinGecko. This rapid price increase broke past a previous resistance level of $55, demonstrating strong speculative interest despite limited liquidity, with trading volume recorded at around $954,099.
The price surge aligns with the launch of PiFest 2024, a week-long event taking place from October 29 to November 5. The festival is designed to promote Pi as a payment solution for local businesses, showcasing the network’s potential for real-world adoption. Organizers aim to highlight Pi's practical applications and strengthen community confidence in its long-term value.
The growing excitement around the Pi Network, coupled with the festival’s launch, has contributed to heightened price volatility. The current momentum reflects both anticipation of the mainnet launch and the enthusiasm sparked by PiFest, marking a crucial moment in the cryptocurrency’s development.
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