CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Crypto Potato 2025-05-09 14:46:13

Pi Network (PI) Soars by 20% Daily: Is a $1 Comeback Incoming?

TL;DR PI surged by double digits amid a market momentum and anticipation of a Pi Network ecosystem announcement. However, millions of PI tokens will be released mid-month, raising concerns about potential sell pressure and incoming volatility. PI on the Run Pi Network’s native token, whose price consolidated below $0.60 at the start of May, witnessed a solid surge in the past 24 hours. It briefly climbed to a nearly one-month high of $0.77 before slightly retracing to the current $0.75 (per CoinGecko’s data). The represents an almost 20% pump compared to the valuation observed on May 8. PI Price, Source: CoinGecko PI’s market capitalization exceeded $5 billion, making it the 32nd-largest cryptocurrency. It is ahead of well-known altcoins such as Uniswap (UNI), Near Protocol (NEAR), Official Trump (TRUMP), and more. Two obvious factors have likely triggered the rise. The first is, of course, the revival of the cryptocurrency market, where Bitcoin (BTC) soared well above $100,000. The other is the expectation of a major development following a recent announcement by the Pi Network team. As CryptoPotato reported , the project’s developers teased an “ecosystem announcement” that would be released on May 14. Crypto X exploded with speculations, with some community members predicting a potential PI listing on Binance. The asset’s latest price increase caught the eye of numerous market observers who think there’s more room for growth. X user MOON JEFF, who regularly touches upon the matter, claimed PI has surpassed the $0.75 micro resistance level, predicting a jump to $1. It is important to note that the last time the price traded above the one-dollar zone was in March of this year. Another user on the social media platform recently wondered if the valuation could explode to $5, asking its followers to drop their predictions. Some of the outlined targets include astonishing figures like $10 and even $20, which seem quite unrealistic (at least as of the moment). Investors Should Tread Carefully Despite the rally, PI is not completely out of the woods, and its price might decline in the short term. There will be a massive release of locked assets by the middle of this month. The record day is expected to be May 16, when almost 15 million PI will be freed up. This will give investors the chance to sell tokens they’ve been waiting for a long time . Although this doesn’t guarantee such a scenario, the danger of a mass exit still looms. It is worth mentioning that the unlocks are expected to cool down towards the end of the month and the beginning of June. The post Pi Network (PI) Soars by 20% Daily: Is a $1 Comeback Incoming? appeared first on CryptoPotato .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta