Pi Coin Price Surges 50% to $1.29 Ahead of Major Announcement
On May 11, Pi Coin's price increased by 50% to $1.29 ahead of a major announcement from the Pi Core team on May 14. The cryptocurrency moved from 27th to 16th in market ranking, surpassing Litecoin, PEPE, and Bitcoin Cash, with a market cap reaching $9 billion. Daily trading volumes surged by 176% to $1.26 billion.
Key Factors Behind the Price Rally
- Pi Coin has rebounded from a low of $0.40 in April, gaining 3x in less than a month.
- An upcoming ecosystem update on May 14 has driven speculation and increased trading activity.
- Potential listings on major exchanges like Binance or Coinbase may enhance demand.
- Whale activity was noted, with an unknown wallet acquiring 155 million Pi, raising speculation about exchange listings.
Market Context
- The recent Bitcoin price rally has boosted investor confidence in altcoins, including Pi Coin.
- Technical indicators show Pi Coin breaking resistance levels, recently exceeding $0.78 and $1.12.
- Analysts cite “fear of missing out” (FOMO) as a factor driving buying pressure.
- Next resistance levels are projected at $1.50 and $2.