Pi Network (Pi Coin) has made a surprising breakout, surpassing the $1 mark and even peaking at $1.19, pushing its market capitalization above that of Litecoin (LTC) and Bitcoin Cash (BCH). This strong rally has propelled Pi into the top 20 largest cryptocurrencies by market cap, exceeding $8 billion.
According to CoinMarketCap, Pi Coin jumped more than 50% in a single day, rising from a low of $0.73 to a peak of $1.24. Trading volume also soared by over 600%, exceeding $1 billion—making Pi the top gainer among the 30 largest cryptocurrencies by market capitalization.
In contrast, Litecoin gained only 0.42%, and Bitcoin Cash saw a modest increase of just $0.24 during the same period. Earlier technical analyses had already predicted a potential 100% surge in Pi’s price, citing the formation of an “Adam and Eve” chart pattern—a typical indicator of a bullish breakout.
Whale Accumulation Behind the Price Surge
A key driver behind Pi’s explosive rally is the strong accumulation by crypto “whales.” Just before the rally began, a major wallet address withdrew 70 million Pi from exchanges, signaling the start of the uptrend. Shortly after, another whale purchased 20 million Pi from the OKX exchange.
At the same time, retail investors are also buying up Pi in anticipation of several positive developments. One of the key upcoming events is the Pi Consensus Summit in mid-May, which many expect will bring major announcements and further price momentum.
Additionally, the Pi Core Team has been actively buying back Pi from centralized exchanges to help stabilize the price after the recent token unlock event. This move is seen as a confidence booster and has contributed to the price increase.
Fueling the excitement, rumors have emerged about a potential Binance listing after several “test” transactions were detected. The Pi Core Team has also hinted at a major announcement on May 14, adding to investor anticipation.
With all these developments, Pi Coin has become a focal point in the crypto space, as traders watch closely to see if this bullish momentum can be sustained.
