Pi Coin Explodes Beyond $1 and Enters Global Top 20, What's Happening?

(Dan Tri) - In just 48 hours, Pi Network - a cryptocurrency that was once skeptical - has had a spectacular breakthrough, skyrocketing more than 70% and officially entering the top 20 most valuable digital assets in the world.

Surpassing 1 USD after nearly 2 months of "hibernation"

On the evening of May 12 (Vietnam time), Pi officially surpassed the $1 threshold, marking a 35% increase in just one day and more than 114% within 7 days. For the first time in nearly 2 months, Pi returned to this price level, causing a stir in the entire cryptocurrency community.

Specifically, Pi's price has bounced strongly from the bottom of 0.40 USD in April to 1.28 USD, with trading volume exploding to more than 1.4 billion USD - an increase of 152.8% compared to the previous day. Although still 57% lower than the historical peak of 2.99 USD on February 26, Pi's revival is causing many investors to "rush" back into the game.

According to data from CoinGecko, Pi is now ranked 17th globally in terms of market capitalization, reaching over $9 billion - an achievement that was unimaginable just a few weeks ago, when Pi was still hovering below the $0.50 mark.

Pi unexpectedly surpassed many big names in the rankings, becoming the best performing cryptocurrency in the Top 20 in the last 7 days (Illustration: BTCRead).

Behind the Price Explosion: Silent Accumulation and Explosive Expectations?

According to technical analysis, Pi's price increase is not exactly a fluke. For the past several weeks, Pi has been quietly consolidating around the $0.75-$0.85 price level. The breakout of short- and medium-term moving averages such as the 10, 20, and 50-day EMA/SMA shows that the bullish momentum has been brewing for quite a while.

Although the RSI is at a high level (85) - an overbought sign - according to experts, the uptrend is still very strong and can continue. If Pi holds above the support zone of $1.20, the next levels will be $1.50, even $2 in the short term.

It is impossible not to mention the powerful "catalyst" from the Pi Network community and a series of important upcoming events. Specifically, on May 14, the Pi Network development team will announce a major announcement related to the mainnet ecosystem. Although the details are not yet clear, the suggestive post on May 8 on the X platform has caused a stir in the community. Investors expect an important step to help Pi get closer to the public mainnet.

Pi also previously announced that it would separate wallet activation from migration, allowing millions of users to access the mainnet ecosystem, expanding real-world use cases and attracting more developers. In addition, the founder of Pi Network will speak at Consensus 2025, one of the world's largest cryptocurrency events, further raising expectations for the official trading opening.

In particular, the rumor that Binance will soon list Pi has caused the market to "explode". Although Pi has not yet appeared on this major exchange due to issues related to token distribution, a recent poll shows that 86% of users want Pi to be listed on Binance - a number that is enough to sow hope.

Is there a "FOMO effect" or a real resurgence?

Of course, for those who have witnessed Pi "evaporate" from nearly 3 USD to 0.4 USD in just a few weeks, this price increase may make them doubt whether this is a temporary "FOMO effect", or a real rise of Pi?

Analyst Dr. Altcoin believes that this rally is just the beginning. The market could really explode if the May 14 announcement is a turning point that brings Pi closer to a public listing. According to him, Consensus 2025 could be a real catalyst, not just a "short-term speculative wave".

However, investors still need to be cautious. If Pi fails to hold the $1.12 support zone, it may return to the $0.85 - $0.90 price zone, or even lower if profit-taking pressure is strong.

In the volatile world of cryptocurrencies, nothing is certain. But with a more than 100% weekly gain, skyrocketing trading volumes, and a lot of hype, Pi is back in the spotlight in a way no one expected.

Whether you're a loyal Pioneer or just starting to look at the coin, one thing is clear: Pi Network's game has entered a new chapter. And all eyes are on May 14.

Source: https://dantri.com.vn/kinh-doanh/dong-pi-bung-no-vuot-moc-1-usd-va-lot-top-20-toan-cau-dieu-gi-dang-xay-ra-20250513092357283.htm