Pi Coin price aims to target $2 after a 40% rise today ahead of the Pi Network ecosystem announcement on May 14th. Learn more

PiCoin's price is exploding today as the broader crypto market recovers amid positive updates on the US-China trade war, but there's more to it than that.

The Pi Network token has been frequently discussed due to its bullish price performance and expectations surrounding a top exchange listing.

However, like most cryptos, its trend slowed down in recent days before rebounding today, and there's a specific reason behind that. Let’s discuss.

Pi Coin price surged by 40% today amid FOMO.

With a 40% gain today and a 130% gain over the week, the Pi coin price is moving with the bulls.

It hit a two-month high of $1.6, currently trading at $1.3. More importantly, it has risen to a market cap of $10.9 billion before settling at $9.57 billion.

Amid a broader market recovery due to the US-China trade talks, digital assets are surging with gains, and Pi Network's price hike is part of that. Experts believe FOMO drove the rally as investor sentiment picked up amid upcoming Pi ecosystem updates.

In a May 8 post, Pi Network revealed that the ecosystem announcement will be released on May 14. While there's no official word on what's going on, investors believe it's the much-awaited Binance listing or something just as quick.

As a result, speculators are buying PiCoin in anticipation of a boom.

Is the Pi Network MainNet launch coming next?

While there is no certainty about the May 14 Pi Network announcement, investors may want to witness either the Binance listing or the mainnet launch.

Adding to the anticipation, an application pilot covering logistics and Web 3 technology commented that they are developing a pilot app for the PieCore team's mainnet review ahead of the upcoming ecosystem listing.

If this happens, then according to experts' Pi Coin price predictions, it could touch new highs.

Key resistances are around $1.39, $1.69, and $2.0, added crypto TA King. If the bullish momentum continues, it could reach $1.7 amid that FOMO around the May 14 announcement.

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