With an increase of over 15% since yesterday, the Pi Network (PI), ranked 12th among the largest cryptocurrencies by market capitalization, has outperformed most of its peers in the market.
Recent performance of Pi Network (PI)
Although this increase seems significant, it pales in comparison to the gains the currency recorded in February. PI saw a skyrocketing increase of over 380% from its low on February 21 to its all-time high of $2.9950 on February 26.
It is worth noting that the Pi Network project has been under development since 2019, but the mainnet was not launched until January 2025.
What is Pi Network (PI)?
On the surface, Pi Network is a digital currency and decentralized financial project developed by Stanford University graduates Nikolas Kokkalis, Chengdiao Fan, and Vince Macfarlane. The project is based on the idea that anyone should be able to mine digital currencies through a mobile app.
However, the project has faced criticism, particularly regarding Pi Network's claim of having over 60 million users worldwide, while blockchain data indicates that the reality is quite different.
Additionally, the project's expansive tokenomics, concentration of control, and reliance on advertising revenue have been criticized for prioritizing profit from users at the expense of decentralization and innovation.
Nevertheless, while PI managed to rise to the top 20 cryptocurrencies in just a few weeks and currently stands on the verge of entering the top 10, it remains a digital currency worth following closely.
Technical update for Pi currency
Technically, it is noted that the next hurdle for PI, should growth continue, will be the psychological threshold at $2.
Next, attention will turn to the previous high of $2.9950 and the round threshold at $3, a target indicating the possibility of achieving an increase of over 76% from the current price.
