Pi Network Price Increase: Beware of New Wave of Speculation

Pi price increases sharply, Pi community is in turmoil

According to data from the OKX exchange, the price of Pi Network jumped from $0.57 (May 7) to $0.77 at noon on May 9 before adjusting to around $0.73 on May 10. This development quickly attracted great attention from the investor community, especially those who own or participate in mining Pi coins from the early stages.

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

PiCoreTeam said that on May 14, the Pi Network project will have an important announcement. Photo: PiCoreTeam.

Specifically, on the social network platform X (formerly Twitter), the official account of Pi Network said that it would announce important information related to the Pi ecosystem on May 14. This move immediately triggered a wave of lively discussions in the community of Pi coin owners, who are familiarly known as "Pi holders". Many investors expect that this could be a signal for a turning point for the project, after being listed on a number of major exchanges such as OKX.

On online forums, from Facebook, Telegram to cryptocurrency investment exchange groups in Vietnam, the debate has become more exciting than ever. Mr. Nguyen Van Tung (Di An City, Binh Duong Province), an investor who has been mining Pi since 2020, shared: “I have been following this project for 4 years, since it was just a coin mining application on the phone. Since the middle of last year until now, the community has stagnated, the price has also stagnated, so the price increase and the upcoming big announcement have made many people hope that the project will soon have a real product, especially when many other coins are also recovering.”

Sharing the same opinion, Ms. Tran Thi Hai Yen (Thu Duc City, Ho Chi Minh City) said: “I still hold more than 1,200 Pi that have not been traded because I bought it at the price of 1.8 USD. Now that I see the price increase with the new announcement, I also hope to sell my stock without losing money. However, the reality is that without specific infrastructure and applications, the value of Pi is still very unstable.”

Besides the excitement and expectation, there are also many people who express caution. Mr. Le Hoang Nam, a veteran member of the Pi Network community in Dong Nai shared: "The sudden increase in Pi price like this is often due to psychological stimulation news and does not have a solid foundation. Especially when Pi has not been officially traded on major exchanges like Binance and is still operating under I think the community should be alert to avoid leading the Fomo mentality."

Binance Shock Disappoints the Community

It is worth noting that the Pi community has experienced many periods of excitement and disappointment in the past. In particular, in mid-February 2025, the world's largest cryptocurrency exchange Binance announced the opening of a voting portal for users to decide whether to list the Pi Network project or not. The voting process took place from February 17 to February 27 and attracted great attention from the global cryptocurrency community. When the voting ended, the results showed that up to 87.1% of participants agreed with the proposal to list Pi Network on the Binance exchange.

Since May 7, Pi Network has suddenly increased in price after many gloomy months. Screenshot

This information immediately caused the price of Pi on unofficial exchanges to increase sharply, at times exceeding the threshold of 3 USD. However, contrary to the expectations of the community, Binance has so far remained silent about the Pi Network project and has not made any official announcement about the listing plan. This prolonged silence has disappointed the Pi community, the price of Pi has continuously adjusted sharply, at times falling to 0.45 USD and causing many once-excited investors to turn cautious.

Mr. Nguyen Minh Tri (Ho Chi Minh City) recalled: “ At that time, many people expected Binance to approve because the voting results were so overwhelming. But after they went silent, the price of Pi dropped dramatically, and many people suffered losses. That's why this time, even though there was news of a price increase, I still didn't dare to take too big a risk.” This mentality reflects the vigilance of a group of investors who have experienced psychological shocks due to price fluctuations and unverified rumors.

Although Pi Network's unexpected price increase was welcomed by the community with high expectations, financial experts are still cautious when assessing the sustainability of this digital currency. Experts say that Pi Network still does not have a clear practical application. The project only promotes it as a means of payment, but has not yet built an ecosystem, exchange or specific financial products. The current value of Pi is mainly based on community expectations and internal transactions, with no objective valuation basis.

The BeInCrypto analysis site also commented that over the past several months, the Pi Network project has shown signs of losing its appeal to investors due to the lack of progress in technology and application. Although the Pi price peaked at $3 on February 27, 2024, since then, the value has continuously decreased, sometimes to a low of $0.45 and has fallen into a state of stagnant trading.

The focus of the Pi community and investors is currently on May 14, 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 and official trading activities. However, even when Pi announces the ecosystem, the important thing is the level of practical application and the ability to list on major international exchanges. If this is not achieved, Pi's price will hardly grow steadily in the long term, and the risk of a sharp decline after "price pumping" periods is entirely possible.

The sudden price increase of Pi Network in recent days has somewhat breathed new life into the gloomy cryptocurrency market. However, behind this short-term boom are still big questions about the real value, legality and applicability of the project. For the Pi user community, this may be an opportunity but also contains many potential risks. The excitement due to price fluctuations needs to be viewed soberly, in the context of many unclear factors. Investors should consider carefully and pay attention to legal warnings to avoid unnecessary losses.

Ngan Nga

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