Pi Network’s native token PI has been on a steady rally for the second consecutive day, fueled by community excitement ahead of Pi Day. On March 13, PI surged to an intraday high of $1.79, marking a nearly 42% increase from its recent low. The token’s market cap reached over $12.2 billion, with a daily trading volume exceeding $930 million at the time of writing.
Despite being down over 42.5% from its all-time high of $2.99 in February, PI has climbed in the rankings significantly. Previously ranked below 3,000 on CoinMarketCap, it has now claimed the 11th spot, surpassing major cryptocurrencies like Chainlink (LINK), Hedera (HBAR), and Stellar (XLM). With a circulating supply of over 7.13 billion tokens, PI’s recent performance has caught the attention of the crypto community.
The surge in PI’s price comes just a day before Pi Day on March 14, a significant event for the PI ecosystem. Users are required to complete their KYC verification and transfer their mined tokens from the testnet to the mainnet by 8:00 AM UTC tomorrow to avoid losing their tokens. However, technical issues have hindered many users from completing the KYC verification process, posing challenges for migrating PI coins to the mainnet.
Additionally, March 14 marks the sixth anniversary of Pi Network’s launch in 2019, along with the debut of its mobile app and whitepaper. A pivotal moment in Pi Network’s history was the massive airdrop on Feb. 20, 2025, coinciding with the launch of its Open Mainnet. Following the launch, PI experienced significant price fluctuations, reaching highs of $1.97, dropping to $0.737, and then rebounding to $1.29.
Despite the influx of tokens into circulation, the price of PI is expected to remain stable. A large portion of PI tokens are locked for extended periods, with 63% locked for three years and 14% locked for one year. This lock-up strategy ensures that most unlocked tokens will not flood the market immediately, helping to maintain price stability.
Speculation surrounding a potential Binance listing has also contributed to the current rally in PI’s price. While an overwhelming majority of voters supported adding PI to Binance’s spot market in a February poll, the listing remains uncertain as Binance has yet to respond. In the meantime, PI is listed on major centralized exchanges like OKX, MEXC, Gate.io, and Bitget.
From a technical analysis perspective, indicators suggest a continuation of PI’s uptrend. The token is trading near the upper Bollinger Band on the 4-hour USDT chart, indicating strong buying pressure driving the bullish trend. With the Aroon Up at 78.57% and the Aroon Down at 0%, PI shows potential for further gains before potentially experiencing a slight pullback.
Market commentators have made bullish predictions for PI, with expectations of reaching $4 and even $10 in the coming weeks. As the community continues to support PI, the token’s price trajectory remains optimistic. It will be interesting to see how PI’s performance unfolds in the days ahead in the ever-evolving crypto market landscape.
Disclosure: This article is for educational purposes only and does not constitute investment advice.