Pi Network’s native token PI continued to rally for the second consecutive day amid community hype ahead of Pi Day.
According to data from crypto.news, Pi Network (PI) rose to an intraday high of $1.79 on March 13, nearly 42% above its lowest point this week. Its market cap was seated at a little over $12.2 billion, while its daily trading volume doubled over the previous day, hovering over $930 million at the time of writing.
Although the crypto is still down over 42.5% from its all-time high of $2.99 in February, PI has recently made a huge leap in rankings.
Just a week ago, it was ranked below 3,000 on CoinMarketCap, but now it has skyrocketed to 11th place, surpassing major cryptos like Chainlink (LINK), Hedera (HBAR), and Stellar (XLM). Its circulating supply currently stands at over 7.13 billion tokens.
Today’s gains come just a day before Pi Day on March 14, a big event for the PI ecosystem. Specifically, users need to complete their KYC verification and migrate their tokens mined on the testnet to the mainnet by 8:00 AM UTC tomorrow. If they don’t, they risk losing the mined tokens.
However, many users are still struggling with KYC verification due to technical issues, making it difficult to migrate their PI coins to the mainnet.
Meanwhile, 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 Feb. 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.
One of the key catalysts for the current rally to extend is speculation around a potential Binance listing. 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.
Meanwhile, PI is currently available on major centralized exchanges like OKX, MEXC, Gate.io, and Bitget, among others.
PI price analysis
Technical indicators are in favor of a potential continuation of PI’s uptrend.
On the 4-hour USDT price chart, PI has been trading near the upper Bollinger Band, which indicates strong buying pressure fueling the bullish trend.
With the Aroon Up at 78.57% and the Aroon Down at 0%. A high Aroon Up value suggests frequent new highs, while the absence of Aroon Down signals a lack of bearish influence.
With the Relative Strength Index at 60, PI still 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.
Hence, 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.
Market commentators have also made long-term bullish predictions for PI, expecting it to reach $4 and beyond in the coming weeks.
Others have speculated on even more ambitious targets, with one community member arguing that strong community backing could push the price to $10.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
