Pi Network (PI) token rallies for the second consecutive day

PI Network (PI) continued to rally for the second consecutive day amid community hype ahead of Pi Day.

Cryptocurrency traders are keeping a close eye on the next move for Pi Network’s (PI) native token, which saw gains for the second straight day on Monday.

What Happened: Pi Network’s token rose to an intraday high of $1.79, nearly 42% above its lowest point this week, according to crypto.news. Its market cap was seated at a little over $12.2 billion, while its daily trading volume doubled over the previous day, at the time hovering over $930 million.

The crypto is still down over 42.5% from its all-time high of $2.99 in February.

The token faced difficulties with users completing their KYC verification and migrating their tokens mined on the testnet to the mainnet by 8:00 AM (GMT+8) on Tuesday, or else they risk losing the mined tokens. Many users are still struggling with KYC verification due to technical issues.

This comes a day ahead of Pi Day on March 14, a big event for the PI ecosystem.

The date also marks Pi Network’s sixth anniversary since its launch on March 14, 2019, along with its mobile app and whitepaper.

One of the biggest events in Pi Network’s history was its massive airdrop on February 20, 2025, alongside the launch of its Open Mainnet. After the launch, Pi Coin saw major price swings—spiking to $1.97, dropping to $0.737 the next day, and then bouncing back to $1.29.

At its peak, the total value of Pi tokens distributed reached $13.8 billion. So far, 7.13 billion tokens have been distributed, and another 188 million PI tokens are set to be unlocked this March, available to over 1 million users.

Despite the large supply entering circulation, the price is unlikely to be affected since 63% of Pi tokens are locked for three years, and another 14% are locked for one year. This means most unlocked tokens won’t hit the market immediately, helping to keep prices stable.

Key Catalyst: Speculation over a potential listing on Binance may be a key factor driving the current rally in PI prices.

In a February vote, over 87% of participants supported adding PI to Binance’s spot market, but Binance has yet to respond, leaving its listing uncertain.

However, PI is currently available on major centralized exchanges like OKX, MEXC, Gate.io, and Bitget, among others.

Related Link: Pi Network's (PI) Token Plummets 40% After Record High As Delisting Rumors Swirl

PI Price Action: Technical indicators on the 4-hour USDT price chart point towards a potential continuation of PI’s uptrend.

The price hovers near the upper Bollinger Band, indicating strong buying pressure fueling the bullish trend.

With the Aroon Up at 78.57% and the Aroon Down at 0%, a high value for the former suggests frequent new highs, while the absence of the latter signals a lack of bearish influence.

The Relative Strength Index at 60 indicates that PI has room for further gains before it hits overbought levels. However, once it approaches this threshold, it may experience a slight pullback before potentially continuing its uptrend.

Thus, PI is most likely to continue its rally toward the psychological resistance level at $2, which previously acted as resistance on March 5. A break above this level could propel the token higher, potentially retesting its all-time high.

Moreover, market commentators have made long-term bullish predictions for PI, expecting it to reach $4 and beyond in the coming weeks.

Other community members have speculated on even more ambitious targets, with one arguing that strong community backing could push the price to $10.