Pi Network price surges: Beware of a new wave of speculation.

In recent days, the Pi Network (Pi) cryptocurrency has unexpectedly surged in price on exchanges, breaking free from months of sluggish trading.

Pi price surges, Pi community in an uproar.

According to data from the OKX exchange, the price of Pi Network surged from $0.57 (on May 7th) to $0.77 by noon on May 9th before correcting to around $0.73 on May 10th. This development quickly attracted significant attention from the investment community, especially those who owned or participated in mining Pi from the early stages.

Pi Network's growth is driven by the overall optimism in the cryptocurrency market following the US Federal Reserve's decision to keep interest rates unchanged and is believed to stem from the latest announcement from the Pi Network development team (PiCoreTeam).

The PiCoreTeam announced that an important announcement regarding the Pi Network project will be made on May 14th. (Image: PiCoreTeam)

Specifically, on social media platform X (formerly Twitter), the official Pi Network account announced that it will release important information related to the Pi ecosystem on May 14th. This move immediately triggered a wave of lively discussion among the community of Pi holders, commonly known as "Pi enthusiasts." Many investors expect this to signal a turning point for the project, after being listed on several major exchanges such as OKX.

On online forums, from Facebook and Telegram to cryptocurrency investment groups in Vietnam, the debate has become more vibrant than ever. Nguyen Van Tung (Di An City, Binh Duong Province), an investor who has been mining Pi since 2020, shared: “I’ve been following this project for four years, since it was just a mobile app for mining coins. From the middle of last year until now, the community has slowed down, and the price has also stagnated, so the price increase and the upcoming major announcement have given many people hope that the project will soon have a physical product, especially as many other cryptocurrencies are also recovering.”

Sharing the same view, Ms. Tran Thi Hai Yen (Thu Duc City, Ho Chi Minh City) said: “I still hold over 1,200 untraded Pi tokens because I bought them at a price of $1.80 USD. Now that I see the price increasing with the new announcement, I hope to sell them without losing money. However, realistically, without specific infrastructure and applications, the value of Pi remains very volatile.”

Alongside the excitement and expectations, many people also expressed caution. Le Hoang Nam, a veteran member of the Pi Network community in Dong Nai, shared: “This sudden surge in Pi price is usually driven by news that stimulates sentiment rather than having a solid foundation. Especially since Pi is not yet officially traded on major exchanges like Binance and is still operating under a different system. I think the community should be cautious to avoid being misled by FOMO (fear of missing out).”

The Binance shock once disappointed the community.

It's worth noting that the Pi Network community has experienced periods of both excitement and disappointment in the past. Particularly in mid-February 2025, Binance, the world's largest cryptocurrency exchange, announced a public vote to decide whether or not to list the Pi Network project. The voting process took place from February 17th to 27th and attracted significant attention from the global cryptocurrency community. When the voting ended, the results showed that 87.1% of participants agreed with the proposal to list Pi Network on Binance.

Starting May 7th, Pi Network unexpectedly increased in price after months of stagnation. (Screenshot)

This information immediately caused the price of Pi on unofficial exchanges to surge, at one point exceeding $3. However, contrary to community expectations, Binance has remained silent on the Pi Network project and has not made any official announcements about its listing plans. This prolonged silence has disappointed the Pi community, causing the price of Pi to continuously correct sharply downwards, at one point falling to $0.45 and making many previously enthusiastic investors become cautious.

Nguyen Minh Tri (Ho Chi Minh City) recalled: “ Back then, many people expected Binance to approve it because the voting results were overwhelming. But after they went silent, the price of Pi plummeted, and many people suffered losses. That's why this time, even with news of a price increase, I still don't dare to take too big risks.” This sentiment reflects the caution of a segment of investors who have experienced psychological shocks due to price fluctuations and unverified rumors.

Despite the unexpected price surge of Pi Network being met with high expectations from the community, financial experts remain cautious in assessing the sustainability of this cryptocurrency. Experts argue that Pi Network still lacks clear practical applications. The project has only promoted itself as a means of payment, but has not yet built a concrete ecosystem, exchange platform, or financial product. The current value of Pi is primarily based on community expectations and internal transactions, lacking an objective basis for valuation.

The BeInCrypto analysis site also noted that, over the past several months, the Pi Network project has shown signs of declining attractiveness to investors due to a lack of technological progress and applicability. Although the price of Pi peaked at $3 on February 27, 2024, its value has continuously declined since then, sometimes reaching a low of $0.45 and entering a state of sluggish trading.

The focus of attention for the Pi community and investors is currently on May 14th, when the PiCoreTeam development team will announce information about the Pi ecosystem. Many investors expect this to be a major turning point, paving the way for the public Mainnet launch and official trading. However, even after Pi announces its ecosystem, the crucial factors are the level of practical application and the ability to list on major international exchanges. Without achieving this, the price of Pi is unlikely to experience stable long-term growth, and the risk of a sharp decline after previous price pumps is entirely possible.

The unexpected price surge of Pi Network in recent days has somewhat breathed new life into the previously sluggish cryptocurrency market. However, behind this short-term boom remain significant questions about the project's true value, legality, and applicability. For the Pi user community, this could be an opportunity, but it also carries considerable risks. The excitement stemming from price volatility needs to be viewed cautiously, given the many uncertainties. Investors should carefully consider and heed legal warnings to avoid unnecessary losses.

Ngan Nga

Source: https://congthuong.vn/pi-network-tang-gia-can-trong-truc-lan-song-dau-co-moi-386896.html