TL;DR
- After several months of depressed prices, including hitting an all-time low, PI’s token has experienced a remarkable uptick over the past week.
- On a daily scale, the asset is up by over 30%, prompting speculation about the factors driving this price surge.
Just over a month ago, PI token plummeted to a low of $0.4, which marked its all-time low (ATL). This drop was largely due to significant token unlocks, market uncertainties, and waves of fear, uncertainty, and doubt (FUD) surrounding the project. Following this, the token began to recover, maintaining a tight trading range around $0.6.
At the end of last week, PI’s price crossed above the $0.6 mark, with a notable gain of 20% on Friday alone. Such movements invariably draw the attention of investors and analysts alike, resulting in optimistic predictions for the asset, with projections ranging from $1 to as high as $5.
Interestingly, the more modest target of $1 was achieved today when PI’s price surged by 35%, hitting the $1 mark for the first time in nearly two months. This remarkable weekly increase of approximately 64% signifies a drastic turnaround for the token.
The reasons behind this sudden surge are not entirely clear. However, notable speculation surrounds an impending announcement expected to be made next week (May 14), which some suggest may be tied to a significant exchange listing, possibly including Binance.
Additionally, excitement may be building as one of Pi Network’s founders, Dr. Nicolas Kokkalis, is slated to speak at the prominent crypto conference Consensus next week (May 14 – 16) in Toronto.
Analyst Moon Jeff highlighted that many unidentified entities, including BANXA, have begun amassing PI tokens, potentially contributing to the price rise. However, this information remains unverified.
BANXA is buying millions of $PI
PCT is buying back.
Unknown entities are accumulating millions of $PI.
Exchange withdrawals are more than deposits.And you are selling your coins? Okay let’s see who will win at the end. #PiNetwork
— MOON JEFF (@CRYPTOAD00) May 10, 2025
The recent skyrocketing of PI’s price signals a turning point, but investors are encouraged to remain vigilant and to analyze the underlying factors closely as the market continues to evolve.
For further updates on the PI token and its market performance, stay tuned.
