Crypto investors are buzzing as Pi Network (PI) has smashed past the pivotal $1 level, soaring 35% in just 24 hours and marking its first time above this milestone in nearly two months. As of writing, Pi Coin trades at $1.28, notching a stunning 114% gain for the week—a move that signals renewed interest in the altcoin market and draws attention to long-term blockchain accumulation strategies.
This rally follows weeks of sideways action, with PI languishing at $0.75 in early May and hitting lows near $0.40 in April. However, the breakout is being confirmed by skyrocketing trading volumes. Pi’s 24-hour trading volume now stands above $1.4 billion, up a massive 152% and indicating strong momentum among traders and DeFi enthusiasts.
[Pi Network price analysis. Credit: crypto.news]
Yet, even after this surge, PI remains well below its February 26th all-time high of $2.99—down by 57%. Technical analysis shows crypto bulls have managed to push PI above all key short-term and mid-term moving averages, including the 10-day, 20-day, and 50-day SMA and EMA lines—an encouraging structure for extended upside, provided the price stays above these benchmarks.
The Relative Strength Index (RSI) has hit 85, suggesting PI may be overbought in the short term. Still, analysts note that in powerful trends, tokens can stay overbought for extended periods. The Moving Average Convergence Divergence (MACD) also remains in clear bullish territory, supporting prospects for the rally to continue.
Adding fuel to this breakout, upcoming ecosystem updates and event-driven speculation have investors on alert. The Pi Network team is set to drop a major project update on May 14, coinciding with the Consensus 2025 Summit where the founder will speak. Rumors continue to swirl about a potential Binance listing, especially after a recent community poll saw 86% in favor—a development that could further boost token adoption and exchange liquidity.
If upward momentum persists and PI consolidates above the $1.20 zone, experts suggest the next psychological target is around $1.50, with a move toward the $2 mark potentially in play. Alternatively, if selling picks up and PI falls below $1.12, support is eyed at $0.90, with the main structural bullish trend intact unless the $0.75 level breaks with high volume.
Seasoned analysts, including names from the crypto research space, believe this leg-up may only be the beginning if ecosystem triggers and investor appetite remain robust. Large trading entities and institutions continue to accumulate PI ahead of the May 14 news, mirroring strategies often seen around major token unlocks or protocol upgrades.
For those watching the broader market, the Pi Network rally may hint at renewed speculative interest across altcoins and decentralized finance. Crypto newcomers may wish to read up on key trading principles in our beginner’s guide to cryptocurrency trading: cryptocurrency trading for beginners. For additional tips on protecting and tracking your portfolio as volatility ramps up, review our curated list of the best crypto wallet trackers.
Looking ahead, all eyes are on the May 14 ecosystem update and whether a major listing emerges. Regardless, PI’s current surge underscores how quickly the crypto markets can pivot from accumulation to breakout—a timely reminder for anyone keeping an eye on altcoins and high-growth blockchain projects.