The native token of Pi Network, known as PI, has experienced a price surge for the second day in a row, fueled by excitement in the community as Pi Day approaches.
Recent data indicates that on March 13, Pi Network (PI) reached a daily high of $1.79, marking an increase of nearly 42% from its lowest point this week. The token’s market capitalization now exceeds $12.2 billion, with a daily trading volume that has doubled compared to the previous day, surpassing $930 million at the time of this report.
While the cryptocurrency remains down approximately 42.5% from its all-time peak of $2.99 in February, it has made significant advancements in market rankings recently.
A week ago, PI was placed below 3,000 on CoinMarketCap; however, it has now surged into the 11th position, overtaking prominent cryptocurrencies such as Chainlink (LINK), Hedera (HBAR), and Stellar (XLM). The circulating supply currently stands at over 7.13 billion tokens.
The recent gains come just a day before Pi Day on March 14, a significant occasion for the PI ecosystem. Users are required to complete their KYC verification and transfer their tokens mined on the testnet to the mainnet by 8:00 AM UTC tomorrow, or they risk losing their mined tokens.
Unfortunately, many users are facing challenges with KYC verification due to ongoing technical issues, complicating the migration of their PI coins to the mainnet.
Additionally, this date commemorates the sixth anniversary of Pi Network, which was launched on March 14, 2019, alongside its mobile application and whitepaper.
A noteworthy event in the history of Pi Network was its substantial airdrop on February 20, 2025, coinciding with the launch of its Open Mainnet. Following this launch, Pi Coin witnessed significant price volatility, peaking at $1.97, dropping to $0.737 the next day, then rebounding to $1.29.
At its highest point, the total value of distributed Pi tokens reached $13.8 billion. To date, 7.13 billion tokens have been allocated, with an additional 188 million PI tokens expected to become available this March for over a million users.
Despite the influx of new tokens, the price is anticipated to remain stable due to 63% of Pi tokens being locked for three years and 14% locked for one year. This means that most of the unlocked tokens won’t flood the market immediately, helping to maintain price stability.
A major factor potentially driving the current rally is speculation surrounding a possible listing on Binance. In a February vote, over 87% of participants advocated for adding PI to Binance’s spot market, yet Binance has not made an official announcement, leaving the listing’s fate in question.
Currently, PI is available on several prominent centralized exchanges, including OKX, MEXC, Gate.io, and Bitget, among others.
PI Price Analysis
Technical indicators suggest a favorable outlook for the continuation of PI’s upward trend.
On the 4-hour USDT price chart, PI has been trading close to the upper Bollinger Band, suggesting strong buying momentum supporting the bullish trend.
The Aroon Up indicator shows a value of 78.57%, while the Aroon Down indicator is at 0%. A high Aroon Up value signals frequent new highs, whereas the lack of Aroon Down indicates minimal bearish pressure.
With the Relative Strength Index at 60, PI has potential for further increases before reaching overbought territory. However, as it approaches this level, a slight pullback may occur before it resumes its upward trend.
Therefore, PI is likely to continue its ascent toward the psychological resistance at $2, a level that previously served as resistance on March 5. A breakout above this threshold could lead to further gains, possibly challenging its all-time high.
Market analysts have expressed long-term optimistic forecasts for PI, anticipating it could reach $4 or more in the near future.
Others have even proposed more ambitious targets, with one community member suggesting that strong community support could elevate the price to $10.
Disclosure: This article is not intended as investment advice. The information and materials provided here are for educational purposes only.