Bitcoin is rising, and altcoins are also on the rise. The largest cryptocurrency is approaching the $100,000 mark, while some altcoins are testing significant resistance levels.
Notably, Pi Coin has performed well, with its price rising 8% in the past 24 hours. Currently, the price target for this token is set at $0.70—if it breaks this threshold, it could open the path to $0.90 and $1.
Additionally, there are new rumors about Pi potentially landing on Binance. These speculations began when Binance's Stellar deposit wallet (which is also the Pi wallet) started testing transactions on the Pi blockchain.
In addition, the Pi Network team plans to make an important announcement on May 14. This major release may take place at the Consensus Summit in Toronto, marking the project's first global official event. Pi founder Dr. Nicolas Kokkalis is also expected to speak and share the latest progress on the project's open mainnet, which officially launched in February 2025.
What is the next step for Pi Coin?
Analyst Dr. Altcoin believes that after the summit, Pi Coin may accelerate its development. The Pi Network has over 70 million users worldwide, a scale large enough to be ignored by major exchanges like Binance or Coinbase. He also stated that advertising on the Pi app by Binance could be significant.
However, Pi Coin has dropped more than 3% in the past two weeks. Due to ongoing token unlocks, the market is facing continued selling pressure. According to Pi Scan data, 10.3 million tokens will be unlocked today.
Recently, its trading volume fell below $40 million, but it has since rebounded to $123 million. The coming weeks are crucial and may determine the price direction of Pi Coin.
The RSI indicator for Pi Coin is neutral, with no strong momentum in either direction. The MACD indicator has issued a buy signal, which is a positive sign. The moving averages are also neutral, indicating market uncertainty.