A sudden increase in token price like this can be triggered by a few common factors.

Mainnet Launch or Major Update: If Pi Network officially launched its open mainnet or released a major upgrade around May 12, it could have sparked investor enthusiasm and buying activity.

Exchange Listing: If PI was listed on a major cryptocurrency exchange (like Binance, Coinbase, etc.) for the first time or expanded to new exchanges, that can significantly boost demand and price.

Partnership Announcements: Strategic partnerships, especially with big tech or financial companies, often lead to investor confidence and price spikes.

Hype or Social Media Trends: Viral trends on platforms like X (Twitter), Reddit, or TikTok sometimes cause rapid, speculative price increases—especially in community-driven projects like Pi.

Supply Shock or Token Burn: If there was news of token burning (reducing supply) or a sudden supply restriction, the price could jump due to scarcity.

Macroeconomic or Crypto Market Trends: A general upward trend in the crypto market or Bitcoin’s price often lifts altcoins like PI along with it.