Rising Demand Pushes PI Token Higher Amid CEX Withdrawal Surge

CEX wallets shed 5.14M PI, signaling rising investor demand.

Technical patterns show double bottom and bullish RSI divergence.

Hackathon 2025 fuels optimism, boosting community confidence in PI.

Pi Network — PI, is catching eyes after a noticeable surge in demand. At press time on Thursday, PI trades at $0.3653, pulling back slightly from a $0.3747 high. Investors watch closely as exchange reserves show sharp withdrawals, signaling stronger appetite. Technical patterns also highlight bullish signs, including a double bottom setup and RSI divergence. With the Hackathon 2025 in full swing, momentum appears to be building for a breakout.

Demand Surges as Exchanges See Outflows

Fresh data from PiScan shows a dramatic shift in exchange balances. In the last 24 hours, wallets on centralized exchanges shed 5.14 million PI tokens. This withdrawal dropped reserves to 409.55 million tokens, a 1.24% decrease. Such movement suggests investors prefer holding tokens off exchanges, often seen as a bullish signal. The timing matches the start of the Pi Hackathon 2025.

As the ecosystem’s first hackathon since Open Network launched, excitement runs high. Developers are building, communities are buzzing, and investors appear ready to accumulate. The narrative resembles a tide pulling tokens away from exchanges, hinting at deeper conviction among holders. At the same time, price action reflects resilience. PI climbed nearly 1.50% on Thursday, extending gains from Wednesday’s 4.92% rise.

Technical Patterns Point Toward Breakout Potential

Charts highlight key levels traders are watching. The next target rests near the 50-day EMA at $0.4319. A decisive move above that average could push PI toward the psychological $0.5000 barrier. The resistance trendline of a falling channel pattern also aligns with this target. Breaking this resistance zone would strengthen the bullish case. The RSI offers further optimism. Currently at 42, the indicator edges closer to the neutral 50 line.

Compared with the earlier dip near $0.3442, the RSI now shows a bullish divergence. This recovery suggests buying strength is quietly returning, like embers reigniting beneath cooled ash. Still, some caution remains. The MACD and signal line are moving sideways, signaling uncertain momentum. Without stronger volume, the rally could stall. Bears may attempt to retest $0.3442 support.

A failure there risks a deeper slide toward $0.3220, matching the all-time low. Yet, the prevailing narrative feels different this time. Exchange outflows, a bullish technical structure, and community excitement create a recipe for upward momentum. Investors seem to sense opportunity as Pi Network matures and prepares for broader adoption.

Pi Network’s PI token trades with renewed energy amid exchange outflows and technical signals. The Hackathon adds fuel to growing demand, showing strong community involvement. Price patterns suggest potential for a breakout if resistance levels fall. Investors now watch closely, balancing hope of gains with awareness of risks.