Pi Network has been a part of active discussion in the crypto community even before its token launch and price rallies. However, the attention escalated with the launch, as investors and traders eyed it as the potential coin due to its hype, major exchange listing, and deflationary activities. With the conjunction of hype and bullish factors, investors anticipate Pi Coin price hitting $10, especially as the Elon Musk parody account promotes the token with a significant giveaway. Is a $10 target possible? Let’s discuss this.
Pi Network Price Surge 15% With Building Bullish Momentum
Pi Coin is among the most bullish tokens due to the broader crypto market recovery past the US CPI data release. The Pi Network price has surged to a many days’ high of $1.78 earlier in the day, booming more than 15%.
As it currently stands at $1.70, following an uptrend, the target of $2.98 (ATH) seems achievable, especially with the rising trading volume and open interest data. According to CoinmarketCap, the 24-hour trading volume has surged 131.39% to $961M, showing building investor confidence amidst the Pi Day uptrend.
Why is the Pi Network Price Surging Today?
The Pi Day or the KYC deadline and Mainnet Migration is set for March 14, 2025, which has created a sense of urgency among investors, resulting in high network activity. This is because investors with unverified KYC would lose all their holdings. In addition, there is intense speculation that the popular cryptocurrency exchange, Binance, will list the Pi Network coin, fueling its price.
Last but not least, there is strong market participation due to its performance and growing utility. It has an active user base of 65M and over 100 decentralized apps, breaking key resistance levels. With that, analysts predict potential rallies to $5 and $10 higher in the coming weeks. Interestingly, the crypto influencer promotions and support are also fueling this rally.
Can Pi Coin Price Reach $10 Amid Parody Elon Musk Account’s Giveaway?
The famous parody Elon Musk account also supports the Pi Coin and did not step back from benefitting from this token’s hype. In the recent X post, the account holder has announced to send $500 in PI to 20 people who will like the post and follow the account, building engagement among the community.
A screenshot of the portfolio shows that the person holds 2134877 PI, equivalent to $3.6M. More importantly, it displayed that the person has nearly 100% returns on the Pi Coin token, boosting investor confidence higher.
However, as the token has not had a rally close to $10, various bullish factors must be supported for this to happen. If Pi Network price continues to break resistance and maintain a high trading volume, it can get to new highs.
In addition, the exchange listing and increased adoption could introduce additional bullishness. However, the token unlocks and allegations of scams could introduce selling pressure.
Technical Analysis: Is a $10 Rally Really Possible?
Various crypto analysts have presented Pi Network price predictions and strong trust in the token for a bullish uptrend. One with the Twitter handle Crypto King claims that the Pi Coin could break its ATHs if it follows a certain price structure. On a long-term goal, the individual claims the token can achieve $10. However, the team must have actual utility as, without that, it could fall to a low of $1.
I can be wrong, and I don’t own any $PI, but looking at the price movements, if $PI pulls this chart, it’s breaking ATH. Honestly, it would takes years to do that only if Pi Core Team is legit adding some utility. If not, $PI will head straight to sub 1$.
Another analyst, Coinvo, has a similar take based on the Fibonacci retracement zone. According to him, PI is at the key zone, which often signals a strong bounce. With that, he predicted a parabolic move upward, but this target is also for the long term and fueled by the exchange listings, utility, and other bullish factors.
It looks like $PI is ready to go parabolic from this Fibonacci zone!
As a result, the Pi Network price rising to $10 in the short term is highly unlikely, even with a parody Elon Musk endorsement. However, a catalyst like a Crypto Reserve formation or bull rally can make this happen in the most optimistic scenario.
Frequently Asked Questions (FAQs)
The Pi Coin price is rising due to increased trading volume, Binance exchange speculation, and the upcoming KYC deadline.
While analysts believe Pi Coin has the potential to reach $10 in the long term, accomplishing this in the short term is unlikely.
The continuity of scam allegations and upcoming token unlocks could impact PI’s performance significantly.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
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.
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