Pi Network’s native token Pi is defying the broader cryptocurrency market downturn over the last 24 hours, dropping little over 1% over the period, while major cryptocurrencies, including BTC, ETH, and ADA, are down by more than 3% each.
The token, which debuted on February 20, has been on a wild ride, with its price plunging from a high of nearly $3 to a low of $0.65 before rebounding to its current level of around $1.4, according to data from CoinMarketCap.
The rebound is being driven by a combination of technical and fundamental factors, including a bullish chart pattern that’s caught the attention of analysts. These include Javon Marks, who on the popular microblogging platform X pointed out PI has formed a “bullish falling wedge pattern” it’s breaking out of, pointing to a “major run to levels back near the highs.”
$PI (Pi Network)’s chart looks to have displayed a bullish Falling Wedge pattern breakout and this can be pointing a major run to levels back near the highs!
Prices could be set for an over 72% increase back close to the $3 mark… pic.twitter.com/j5XGCH9a8B
— JAVON⚡️MARKS (@JavonTM1) March 12, 2025
The token surged more than 20% recently to its current level, having been outperforming the wider crypto market to become the 11th-largest digital currency by market capitalization.
Pi Network’s Rise Related to Listing Rumors
The token’s prospects are also being boosted by speculation about a potential listing on Binance, the world’s largest cryptocurrency exchange, after it held a community vote last month.
The community vote in February showed overwhelming support for the listing, with over 86% of voters in favor. While Binance has yet to confirm the listing, a nod from the exchange could provide a significant boost to the token’s liquidity and accessibility.
Gemini, a US-based cryptocurrency exchange, is also rumored to be considering a listing, with the company teasing a major announcement coming this week. The exchange’s users are speculating that the announcement could be related to the listing of Pi Network’s token.
Other well-known cryptocurrency trading platforms, including Bitget, Gate.io, MEXC, and OKX, have already listed the native token of the Pi Network, boosting its liquidity significantly.
