Pi Coin has rebounded sharply from its April lows gaining over 60% in just one week, and 30% today. After spending several weeks locked between $0.50 and $0.65, the token is now trading near $0.95. This marks its highest level since late March, though still far from its February peak near $3.
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Volume Surge and Technical Breakout
The breakout started on May 8 and was accompanied by a clear spike in trading volume. The price moved quickly through resistance levels at $0.68, $0.80, and $0.95, while the 50-day moving average – previously acting as resistance – was flipped into support.
The momentum also pushed Pi into the top-performing altcoins today, a position it had not held since early March.
Speculation Around May 14 Announcement
There is no confirmed news behind the rally. However, speculation is centered around an ecosystem announcement teased by the Pi Core Team and scheduled for May 14. The same week, co-founder Dr. Nicolas Kokkalis is expected to speak at Consensus 2025 in Toronto, which has added to expectations of a broader update or new partnership. While no details have been shared publicly, the timing of the announcement and the event has led many traders to anticipate a significant development.
Rumors of Exchange Listings Resurface
Alongside the upcoming announcement, rumors about a possible Pi listing on major exchanges have returned. HTX (formerly Huobi) posted Pi graphics in the past multiple times on its X account without explanation, fueling speculation about a potential listing. However, nothing is confirmed yet.
One large wallet holding more than 150 million PI tokens also withdrew a substantial amount from OKX in a single transaction. While some believe this wallet could be linked to Binance or another exchange, no confirmations have been provided. As of now, Pi remains unavailable on the largest trading platforms.
Read also: Binance’s New Listing Rules: A Chance for Pi Network?
Token Unlocks
Despite the recent gains, Pi still faces long-standing structural challenges. Over 1.4 billion tokens are scheduled to be unlocked in the next 12 months, with nearly 200 million released in May alone.
This steady increase in circulating supply could continue to apply selling pressure, especially if demand does not scale at the same pace. Concerns around centralization and token distribution also remain unresolved and have likely contributed to the lack of major exchange listings.
Looking Ahead
At the time of writing, Pi is just below the $1 mark. While that level may be broken in the short term, whether the recent surge leads to further gains will depend on the outcome of the May 14 update.
Without confirmation of new developments or exchange listings, the current momentum may not hold. For now, the market is waiting for substance to follow the speculation.
Read also: Vietnam Releases Warning About Pi Network
