Pi Coin (PI), the native token of Pi Network, has climbed past the $1 threshold for the first time in almost two months. The upward trend comes after a long price consolidation phase, which indicates the renewed interest and speculation around the project.
Currently, PI is trading at about $1.28, a 35 percent gain in the last 24 hours and a 114 percent increase over the past week. Despite this development, the token remains down 57.3 percent from its all-time high of $2.99 recorded on February 26.
Pi Network to unveil new update on May 14
Surprisingly, the price has exceeded key short-term and mid-term moving averages, including the 10-day, 20-day, and 50-day Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs). These indicators are currently generating “buy” signals, suggesting the potential for further price appreciation as long as the project holds above these levels.
Should buyers maintain control and the price consolidates above the $1.20 level, the next potential target could be the psychological resistance at $1.50, followed by a possible retest of the $2 zone.
The recent price surge appears to be fueled by a combination of anticipated ecosystem developments and increasing market speculation. The Pi Network team is scheduled to make an announcement on May 14th, coinciding with the Consensus 2025 Summit in Toronto, where Pi’s founder, Dr. Nicolas Kokkalis, is slated to speak.
Adding to the excitement are persistent rumours of a potential listing of PI on Binance, one of the world’s largest cryptocurrency exchanges. This speculation follows a community vote where 86 percent reportedly supported the move.
Additionally, it’s worth noting that Pi Network reached a significant milestone earlier this year with the launch of its Open Network on February 20. The phase removed previous restrictions, enabled interaction with external blockchains, and paved the way for exchange listings and real-world applications.
The project continues to expand, with Pi currency now ranking among the top 30 cryptocurrencies by market capitalisation on platforms like CoinGecko. The growing community interest and renewed focus on Pi mining as the mainnet transition progresses highlight the project’s resilience and potential.
Discussions within the community are increasingly centred on broader use cases for PI, spanning e-commerce, gaming, and social applications. These envision PI as a central currency within this growing ecosystem.
How Pi Network keeps growing over time
Pi Network was launched in 2019 by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan to democratise cryptocurrency mining by enabling users to mine Pi coins on smartphones.
The user base quickly grew, surpassing 1 million by March 2020, 10 million by March 2021, and 30 million by 2022. In March 2021, the Testnet was introduced, followed by the Enclosed Mainnet in December 2021 to enabling in-app transactions in a secure environment.
The project emphasised user verification, achieving 3.8 million KYC-verified users by March 2023 and over 15 million by February 2025, with more than 10 million migrating to the Mainnet.
