Pi Network (PI) Soars 35% Reaching $1.29 as Binance Listing Speculation Heats Up

Pi Network’s native token, Pi Coin (PI), has soared 35% in the past 24 hours to reach $1.29 and surpass an $8 billion market capitalization, outpacing established cryptocurrencies like Litecoin (LTC) and Bitcoin Cash (BCH), according to CoinMarketCap data.

The token's rally, driven by whale activity and Binance listing speculation, has positioned it as a top-performing altcoin alongside Kaspa (KAS) and Peanut (PNUT) in a bullish crypto market. However, technical indicators suggest overbought conditions, setting the stage for a potential correction.

The 35% price jump was fueled by over 90 million Pi coins transferred across exchanges, sparking a 278% spike in trading volume to over $1 billion, as reported by CoinMarketCap. This whale-driven activity and retail investor enthusiasm reflect the strong market momentum.

Furthermore, Pi's position above key Exponential Moving Averages (EMA) and bullish MACD signals suggest continued upward movement, although an RSI of 91.61 indicates overbought conditions. Analysts project a potential break past the $1.35 resistance toward $1.80, a level seen in March 2025.

PI's Binance Listing Speculation

Speculation about a Binance listing grew after reported "test transactions" involving 294,000 Pi tokens in a Binance-linked wallet were spotted by blockchain trackers on X.

A Pi Core Team announcement slated for May 14, coinciding with the Consensus Summit 2025 in Toronto, has also fueled optimism. The team's reported buybacks from exchanges to stabilize prices post-distributions add to the bullish sentiment.

However, Binance has not confirmed listing plans despite an 86% community vote in favour.

Despite strong fundamentals, analysts advise caution due to Pi Network's limited transparency, unverified mainnet status, and past scam allegations. The project's self-reported market cap, previously exceeding $17.5 billion, has faced skepticism from platforms like CoinGecko, which exclude official rankings.

Regulatory concerns in countries like Vietnam and a critical March 14, 2025 KYC and mainnet migration deadline, where non-compliant users risk losing assets, pose risks to sustained growth.

Pi's rally aligns with a broader crypto market upswing, with Bitcoin surpassing $100,000 and altcoins like Kaspa and Peanut gaining traction. Unlike peers, Pi remains profitable amid $1.1 billion market liquidations triggered by U.S. tariffs, according to Coinglass.

If bullish trends persist, analysts see a long-term target of $10, although volatility and token unlocks (100 billion max supply vs. 7.1 billion circulating) could temper gains.