Token PI has risen by more than 10% amid the excitement surrounding Pi2Day.

The Pi Network Token (PI) has once again attracted the attention of crypto market participants, rising by more than 10% and becoming a leader in growth alongside the tokens Stacks (STX) and Maple Finance (SYRUP) in anticipation of Pi2Day. This annual symbolic event in the Pi Network community is celebrated on June 28.

In the last 24 hours, the trading volume of PI increased by 14.88% to $131. The market capitalization of the digital asset exceeded $4.44 billion, which allowed Pi Network to rank 27th among the largest cryptocurrencies.

The analysis of the PI/USDT pair chart suggests that a breakout of a large descending triangle may occur if the price approaches the triangle's resistance trendline. This indicates the development of a bullish scenario and a potential rise to $1.50.

While the balance volume remains negative, it is leveling out, indicating that selling pressure is gradually weakening. Meanwhile, the balance of power has turned positive at 0.75, which indicates bullish control over the market.

However, some analysts remain skeptical about Pi Network. One of them, known by the nickname Dr. Altcoin, predicted that the asset would fall to $0.40 by August.