Pi Coin (PI) has experienced a robust price rally, rising more than 17% within the past 24 hours to $0.7463 and reaching as high as $0.78—its peak since April 12.
This surge comes ahead of an anticipated major announcement from the Pi Network on May 14, coinciding with the Consensus conference in Toronto, where Pi Network’s founder will speak. Rumors of an upcoming development fund, possible new exchange listings on Binance, HTX, and Upbit, as well as speculation about a token burn, have amplified bullish sentiment. Technical indicators like Bollinger Bands point to a likely breakout, and trading volumes have soared by over 170%.
On-chain movements, including an 84.8 million PI token transfer to an unknown address, have sparked rumors of preparations for exchange liquidity or a possible token burn, the latter being a deflationary event that could drive prices up. Further, over 1.45 billion PI tokens are expected to unlock in the next year, a factor that may increase supply pressure although a burn could counteract this impact.
The Pi Core Team’s recent industry engagement—including participation in Token2049 in Dubai and connections with major crypto figures—has heightened speculation of ecosystem expansion and potential new partnerships.
Market watchers agree that price momentum remains upward, with some predicting a push toward—and possibly above—the $1 psychological mark if positive announcement news materializes. However, a drop below the key $0.5645 support level could reignite selling pressure.