Pi Network News: PI Coin Soars 293% in Six Days, Outpacing Bitcoin, Ethereum, and Dogecoin

Pi Network’s native cryptocurrency, PI Coin, has stunned the market with an explosive 293% rally in less than a week, outpacing Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).

The surge comes amid increasing speculation over a potential Binance listing and the recent launch of Pi’s Open Network, which has significantly expanded its ecosystem.

As of February 26, PI Coin hit $2.62, marking a staggering 65.62% gain in a single day. Its market capitalization, which now stands at approximately $15.91 billion, has skyrocketed, surpassing established cryptocurrencies such as Chainlink (LINK) and Litecoin (LTC). Trading volume has also surged by nearly 170% to $1.66 billion, indicating heightened investor interest.

Pi Coin has outperformed Bitcoin, emerging as the top-performing cryptocurrency over the past five days. Source: Eniwealth ICT DON on X

What’s Driving Pi Network’s Unprecedented Growth?

The latest bullish pressure has been attributed to two significant reasons: the launch of Pi Network’s Open Network and speculation about a potential listing on Binance.

• Pi Open Network Expansion: On February 19, Pi Network launched its Open Network officially, providing the external connectivity of its blockchain ecosystem. The shift makes the platform more compatible with centralized exchanges (CEXs), third-party platforms, and mass-blockchain networks. Based on the Pi Network, the Open Network is a milestone in making its mission of being a utility-based cryptocurrency for everyone in the world.

• Binance Listing Hype: The cryptocurrency world has been closely following Binance’s community vote about listing PI Coin on the global number one exchange. With over 86% of users favoring the listing; expectations for greater liquidity and mass adoption fueled the token’s rocketing price rise. A Binance listing could potentially expose PI to millions of new traders, further driving demand.

Outperforming Crypto Giants in a Bearish Market

While Bitcoin, Ethereum, XRP, and Solana have faced declines of 9% to 20% over the past week, PI Coin’s rally has been a rare bright spot in a market dominated by bearish sentiment. Analysts believe that if momentum continues, PI could reach $5 by the end of April, with some speculating that a Binance listing could propel it to $10 in the near future.

Pi Network (PI Coin) was trading at around $2.56 at press time. Source: TradingView

Crypto influencer “GEM HUNTER” commented on X, stating, “PI is showing strength despite the overall market downturn. With the Binance listing in sight, we could see $10 very soon.”

Technical indicators also support the bullish trend. PI recently broke out from a symmetrical triangle pattern, a classic bullish signal. The Relative Strength Index (RSI) is currently at 90.88, suggesting that the asset is in overbought territory and could see a temporary pullback before further upward movement.

Market Controversy and Skepticism

Despite its rapid rise, PI Coin has not been without controversy. The project has been attacked by some with the claim that it is a pyramid scheme. Earlier, Bybit CEO Ben Zhou warned that Pi Network had already faced regulatory scrutiny in China and stated, “It’s a scam targeting old people, stealing their personal data, and causing financial loss.”.

Pi Network has continuously denied such accusations, asserting that it is a legitimate project working towards building a decentralized financial system. There are still questions, however, as to its market cap figures, which were self-reported and have not yet been verified by CoinMarketCap.

Can PI Coin Sustain Its Momentum?

While PI’s surge has been remarkable, sustaining this growth will depend on several factors, including securing exchange listings, increasing adoption, and addressing regulatory concerns. Analysts caution that the current rally could face resistance at higher price levels, especially if the broader crypto market continues to struggle.

The PI Coin price exceeds the $2.50 mark following the formation of Cup and Handle price pattern. Source: ProfitsNinja on TradingView

The coming weeks will be decisive for Pi Network. If the project can surf its expanding ecosystem and list on a prominent exchange, it may solidify its position as a serious contender in the crypto space. But in the absence of reliable market cap figures and more transparency, concerns are bound to persist regarding its long-term viability.

For now, PI Coin remains among the most eagerly awaited digital assets, sparking the interest of bullish investors as well as industry cynics alike. Whether it is able to sustain its pace or suffers from a spectacular correction remains to be seen, but what is undeniable—Pi Network has firmly ensconced itself in the spotlight.

Watch – Pi Network Price Prediction Video