Key Highlights
- Pi Coin rebounded from $0.13 in February to around $0.21–$0.22 ahead of Pi Day, gaining roughly 65–70%.
- Trading volume surged to over $32 million, showing growing attention from retail investors.
- Network upgrades, new DeFi tools, and potential exchange listings like Kraken are driving strong market interest.
The crypto market has been struggling and volatile for the past few days. However, Pi, the native token of the PI Network, has gained over 50% as traders and investors get ready for PI Day, scheduled for March 14.
At the time of writing, the token is up 4% today and trades for $0.225 from an intraday low of $0.212. This is despite a 16% drop in its trading activity today, which records about $32.81 million in volume while its market valuation sits at $2.17 billion, according to data from CoinMarketCap.
In fact, the token is bouncing back after months of slow movement from a low of around $0.13 in February. This is roughly 54–60% from its lowest point this year. In the last week, Pi climbed from about $0.166 to almost $0.238, showing strong buying interest. Even after a small pullback, the token has stayed above $0.21.
Support from large and retail buyers
This surge is influenced by large traders who have been accumulating as well. According to on-chain data on Piscan, one single whale bought millions of Pi tokens across several transactions in the last 24 hours, bringing their total holdings close to 389 million tokens, which is valued at over $80 million.
Retail traders also contributed to the surge, depositing over 3 million tokens on centralized exchanges in the last 24 hours, a sign of profit-taking ahead of the event.
Surge in network upgrades and new tools
At the same time, the network has been going through major upgrades. Recently, Pi Network announced that it is transitioning from version 19 to version 23 of the Stellar consensus protocol, with full transition expected to wrap up by March 12, two days before Pi Day.
The network is also scheduled to launch new decentralized finance tools, including a decentralized exchange (DEX) and automated market maker (AMM) platform, alongside the upgrade.
Also, the network is expanded into artificial intelligence, partnering with OpenMind to allow miners to provide resources to AI projects. Validator rewards are expected later this month, which will give additional incentives for users who secure the network.
Pi coin remains bullish ahead of Pi Day
Technically, the pi token appears bullish on the daily timeframe with strong momentum. The price recently broke through a resistance zone at $0.15, retested it, and pushed to the upside. At the same time, the token has moved above the 100-day Exponential Moving Average (EMA), suggesting buyers are in control.
Momentum has also improved noticeably. The Relative Strength Index (RSI) is near 68, showing strong buying pressure, though it is also approaching overbought territory. That means upside momentum is strong for now, but the rally could face short-term exhaustion if buyers fail to deliver a clean breakout.
However, the price is approaching a key resistance level at $0.28. A strong daily candle break above this level could ignite another strong rally, which could push the price up to $0.3 or even $1 if the momentum is strong. While the $1 is a highly optimistic scenario, at present the move should be treated as a recovery rally within a broader weakening structure rather than a confirmed long-term breakout.
On the downside, the first support lies around $0.21, followed by a stronger demand zone near $0.19 to $0.18. If Pi loses these levels, the recent breakout attempt could weaken and bring the token back into consolidation.
Also Read: Pi Network Enters Final Mainnet Push with Testnet V20.2 Launch
