The price of Pi Network's crypto has seen a remarkable increase this week, rising to a peak of $3 on Wednesday, marking nearly a 400% jump from last week's low of $0.60.
The price of Pi Network's crypto has seen a remarkable increase this week, rising to a peak of $3 on Wednesday, marking nearly a 400% jump from last week's low of $0.60.
This surge has propelled the self-reported market capitalization of Pi Network to over $16.3 billion, positioning it among the top-performing cryptocurrencies during a week characterized by declines in many other digital assets.
Recent trading activity indicates a significant portion is happening on OKX, one of the largest cryptocurrency exchanges that has already listed Pi, alongside other platforms like HTX, Bitget, MEXC, and Gate.io. The anticipation surrounding a potential listing on Binance has further fueled interest in the Pi coin, as a poll conducted by Binance has attracted millions of votes, with a majority showing support for its inclusion.
Market analysts suggest that a Binance listing could lead to further listings on other major exchanges such as Coinbase and Upbit.
Coinbase would provide access to U.S. clients, while Upbit would connect the coin to South Korean traders. This potential expansion into new markets could significantly impact Pi Network's visibility and trading volume.
Despite facing skepticism in the past, particularly during its enclosed mainnet phase since 2021, the network’s recent developments have helped bolster perceptions of legitimacy. Successful migrations of tokens to the mainnet have alleviated concerns regarding the network’s credibility.
Technical analysis of the Pi coin shows a bullish pennant pattern forming, suggesting the possibility of continued upward momentum.
Following its recent lows, the token has demonstrated a break-and-retest pattern, with analysts predicting potential price targets of $3.14 and even $5 as more exchanges begin to support it.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
