PIEVERSE, an AI-connected cryptocurrency that began trading about a year ago, has defied a broad market decline over the past week, posting a 77% price increase. The token recently reached a new all-time high of around $2.22 and was trading at nearly $2.09 at the time of reporting, according to CoinGecko data. Its market capitalization rose to $580 million, making it the 98th-largest cryptocurrency.
Price Rally and Possible Drivers
Over the last fortnight, PIEVERSE has gained 100%. The exact cause of the rally remains unclear, but one possible factor is a broader green wave across AI-related coins. Popular tokens such as ICP and NEAR posted 24-hour gains of 2% and 4%, respectively, while PEARL has pumped by almost 20% on a weekly basis.
Some market observers on X have identified signals suggesting additional upside potential. NOLAR RR noted that the token’s Whale Position and Smart Money Sentiment have entered bullish and extremely bullish territory, respectively. Flippix forecasted that the token could reach $6 in an “aggressive bull scenario,” while emphasizing the importance of holding above $1.50 and building higher lows.
Warning Signs
Despite the rally, PIEVERSE remains a speculative and highly volatile token. Its Relative Strength Index (RSI), which measures the speed and magnitude of recent price changes, has risen to nearly 89, entering extreme overbought territory. The indicator runs from 0 to 100, and readings below 30 are typically viewed as a buying opportunity.
Holder distribution also raises concerns. According to CoinMarketCap, 10 addresses control 92.35% of the tokens in circulation, prompting worries about centralization and potential market manipulation.
Additionally, user ΞLIKRYPTO disclosed that over 86 million coins will be unlocked on November 14. At current rates, the stash is worth roughly $172 million and represents around 30% of the asset’s total market cap. The event could dilute the supply-demand balance and trigger a correction, especially if recipients decide to realize profits.
