Pi Network Price Crosses $1 To Flip Litecoin And Bitcoin Cash

Pi Network price has reclaimed $1 after a searing rally that sees its market capitalization surge past Litecoin and Bitcoin Cash. Investors have their eyes peeled for a sustained rally for Pi Coin in a push driven by heavy whale accumulation.

Pi Network Price Surges To $1.19 To Flip Litecoin and Bitcoin Cash

After flashing multiple signs of brilliance, Pi Network embarked on a seismic rally, gaining a staggering 50% spike in a day. According to CoinMarketCap data, Pi Network price reached a daily peak of $1.19 from a previous low of $0.73.

At the peak, Pi Network’s market capitalization surged to over $8 billion, flipping Litecoin and Bitcoin Cash. Per the cryptocurrency aggregator, Pi Network spiked from 27th place to settle as the 18th largest cryptocurrency by market capitalization.

Apart from the surge in prices and market capitalization, Pi Network volumes surpassed $1 billion, spiking by $600%. Furthermore, the impressive rally leaves Pi Coin as the biggest gainer among the top 30 largest cryptocurrencies by market capitalization.

As Pi Coin racked up impressive metrics, LTC managed to gain only 0.42% while BCH garnered $0.24 in the same timeframe. Previous on-chain analytics predicted that Pi Coin price can skyrocket by 100% at the start of the week after the formation of an Adam and Eve pattern.

Whale Accumulation Is Fuelling The 50% Rally

Apart from glowing on-chain analytics, the Pi Network rally is fueled by a frenzied whale accumulation. Prior to the start of the rally, an unknown whale moved 70,000,000 Pi off exchanges to trigger the rally.

A clear path toward $1 appeared after another whale bagged 20 million Pi from the OKX exchange. Retail investors are accumulating Pi Coins in droves, driven by a raft of positive fundamentals around the network.

Firstly, investors are targeting the Consensus Summit in mid-May as the start date for a Pi rally, scooping up coins on a discount. Furthermore, the Pi Core Team is gobbling up Pi Coins from centralized exchanges to stabilize the Pi Network price following the token unlock event.

The Pi Core Team has previously hinted at a major announcement on May 14, sparking waves of enthusiasm among investors. Amid the charged atmosphere around Pi, there is speculation that a Binance listing is imminent following a string of “rumoured” test transactions.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.