Pi Network’s Token (PI) Rallies 68% in Three Days, Approaching $1 Mark

Pi Network’s native token (PI) is sharply rallying over the past three days. The token gained 68.12% between May 8 and May 11, surging from around $0.59 to $0.9883, according to the PIUSDT daily chart on TradingView.

The spike marks the first time PI approached the $1 mark since early March. It also comes after a sharp increase in trading volume. As seen in the chart below, daily candles from May 9 to May 11 show growing bullish momentum, with the May 10 volume reaching a multi-week high.

The strong buying pressure also helped PI break past key resistance zones, including $0.6761 and $0.80, confirming a clean upward trend. The 50-day moving average, which provided resistance throughout April and May, was decisively flipped into support.

According to CoinGecko, PI ranked as the top gainer among the 100 largest altcoins by market capitalization on Friday, May 11. The move came after months of sideways action, where the token traded in a narrow range between $0.50 and $0.65. In early April, PI had touched an all-time low of $0.40 following large token unlocks and investor uncertainty.

Pi Rebounds From All-Time Low Of $0.40

In early April 2025, Pi Network’s token (PI) dropped to as low as $0.40, reflecting sustained selling pressure triggered by major token unlocks and broader market skepticism.

The 4-hour chart from TradingView shows a steep downtrend that extended from late March into the first week of April. This decline pulled PI below its 50-period exponential moving average (EMA), which continued acting as dynamic resistance for most of the month.

Following the $0.40 low, PI attempted short-term recoveries but failed to break above the EMA, indicating a lack of bullish momentum. The price consolidated in a tight range between $0.50 and $0.60 from mid-April through early May. During this phase, trading volume remained relatively flat, signaling reduced investor participation.

The structure changed on May 8, when a strong bullish candle formed, accompanied by a sharp rise in volume. By May 9, PI closed above the 50 EMA at $0.6763 and reclaimed $0.60 with a daily gain exceeding 20%. This breakout confirmed a reversal of trend and flipped the moving average into a support zone. It also marked the beginning of a multi-day rally that pushed PI toward the $1 level.

The rally did not slow down. On Friday, May 11, PI briefly touched $1. On a weekly basis, the token is up by approximately 64%. Traders on X and Telegram flagged the move as one of the most significant altcoin breakouts this month.

Speculation Points To Binance Listing Or Conference Hype

There is no confirmed news to explain the sudden surge. However, two key events may have contributed to the price momentum. First, the Pi Network team is expected to make a major announcement on May 14. Speculation online points to a possible listing on a major exchange, potentially Binance.

Second, co-founder Dr. Nicolas Kokkalis is scheduled to speak at the Consensus 2025 conference in Toronto from May 14 to 16. Market participants believe the event could increase attention toward Pi Network and its development plans.

Meanwhile, analyst Moon Jeff reported that several unidentified wallets—allegedly including payment platform BANXA—have been accumulating PI tokens. He shared this information with his followers on X, suggesting that rising demand from unknown entities could be driving the price higher. However, no official confirmation has backed his claims.

Despite the rally, PI remains in an enclosed mainnet phase. The token has yet to launch on public blockchains or major centralized exchanges. As of now, most trades occur off-chain, and the circulating supply is not fully accessible.