Crypto price of Pi predicted to surge in advance of Consensus announcements
In an electrifying turn of events, the price of Pi Coin skyrocketed to $0.78 on Friday, marking a major milestone not seen since April 12. This surge, a whopping 41% jump from its lowest point this month, coincided with a 170% spike in 24-hour trading volume, reaching an impressive $353 million.
Two primary factors contributed to this exhilarating rally. First, the crypto market as a whole rejoiced as Bitcoin and major altcoins soared, propelling the total crypto market cap surpassing the $3.25 trillion mark. This escalation was primarily due to ongoing Bitcoin accumulation and the mounting optimism surrounding potential trade deals between the US and other nations.
Second, the Pi Network community was buzzing with anticipation for a significant ecosystem announcement slated for the following week. This announcement, aligned with the Consensus event in Toronto, includes a possible partnership with a big-name corporation, an incentive fund for developers, an exchange listing, or a token burn.
This upcoming announcement has generated a flurry of speculation, particularly regarding the rumored token burn. On-chain data revealed an intriguing transfer of 84 million PI tokens to an undisclosed address, leading some analysts to speculate that these tokens may have been moved to facilitate a potential exchange listing.
However, it's essential to note that Binance's official stance on Pi Network's listing remains unclear. Despite rumors swirling, no definitive movement has been observed in the Pi Coin's price, indicating the market's cautious approach until concrete information becomes available.
Looking ahead, our previous predictions point to the Pi Coin's continued upward trajectory. The cup-and-handle pattern formed on the 8-hour chart suggests a potential upside target of $1.10, a 41% increase from the current price. This move could well materialize before the anticipated announcement on May 14.
Interestingly, a 90-year-old theory suggests that Pi Network's price may witness a significant surge in the near future. Stay tuned for more updates as we track this exciting development in the ever-evolving crypto market!
- The Pi Coin's price surge to $0.78 on Friday was met with excitement in the crypto market, especially as Bitcoin and altcoins simultaneously surged, causing the total crypto market cap to exceed $3.25 trillion.
- The ongoing Bitcoin accumulation and optimism surrounding potential trade deals between the US and other nations contributed to the overall crypto market escalation.
- Anticipation for a significant Pi Network ecosystem announcement, including potential partnerships, developer incentives, exchange listings, or token burns, has sparked speculation among the community.
- On-chain data revealed a transfer of 84 million PI tokens, leading some analysts to speculate that these tokens were moved to facilitate a potential exchange listing.
- Binance's official stance on Pi Network's listing remains unclear, despite ongoing rumors.
- Despite the rumors, no definitive movement has been observed in the Pi Coin's price, indicating the market's cautious approach until concrete information becomes available.
- Previous predictions suggest the Pi Coin's continued upward trajectory, with a possible upside target of $1.10, a 41% increase from the current price, potentially materializing before the anticipated announcement on May 14.
- A 90-year-old theory indicates that Pi Network's price may experience a significant surge in the near future.
- As we track this exciting development in the crypto market, stay tuned for more updates on the Pi Coin, altcoins, and the ever-evolving world of finance and technology.
