As Bitcoin continues to rise and approaches the 100,000 USD mark, the altcoin market is also experiencing positive shifts. Among them, Pi Coin – one of the most watched projects by the community – has recorded an impressive 8% increase in the past 24 hours. Currently, this token is targeting a price of 0.70 USD, and if it surpasses this resistance level, the path to the 0.90 USD and 1 USD marks could open wide.
Rumors of Listing on Binance Create Excitement
Contributing to the excitement surrounding Pi Coin are the increasingly widespread rumors about this token soon being listed on the world's leading exchange, Binance. Specifically, some data indicates that Binance's Stellar deposit wallet – which is also a test wallet for Pi – has begun conducting test transactions on the Pi blockchain. This has led many investors to believe that Binance is preparing to support Pi in the near future.
Important Event on May 14
Not stopping there, the Pi Network development team has also confirmed that they will have a major announcement on May 14. The announcement is expected to be made at the Consensus Summit held in Toronto – the project's first official international event. Pi Network founder, Dr. Nicolas Kokkalis, will be present and present the latest updates regarding Open Mainnet – the open main network of Pi – which officially launched in February 2025.
Technical Analysis & Market Momentum
According to analyst Dr. Altcoin, Pi Coin may regain its upward momentum after the Consensus Conference. With over 70 million users worldwide, Pi Network is too large a project for exchanges like Binance or Coinbase to overlook. Additionally, Binance currently displaying ads on the Pi app has led the community to speculate that a partnership may have been established.
However, in the past 2 weeks, Pi Coin has still decreased more than 3% due to selling pressure from token unlocks. According to data from Pi Scan, about 10.3 million tokens will be unlocked today – a significant number that could create strong volatility in the market.
Recent trading volume had at one point dropped below 40 million USD, but quickly rebounded to 123 million USD – indicating renewed investor interest.
Signals From Indicators
RSI (Relative Strength Index): Currently in neutral territory, not showing strong momentum in either direction.
MACD: Signaling a buy – a positive sign.
Moving Averages: Also in a neutral state, reflecting market hesitation.
Conclusion
In the context of the cryptocurrency market becoming increasingly lively, Pi Coin stands at an important threshold. If rumors about Binance turn out to be true and the announcement on May 14 brings positive news, Pi Coin could potentially break out in the near future. However, investors also need to be cautious of selling pressure from ongoing token unlocks.