Pi Network Sees 'Pi Day' Rally Expectations, Analyst Says Could Hit $0.75

Recently, the price of Pi Network tokens has seen a significant increase, with a single-day gain of 7.16% on Monday, closing at $0.221, significantly outperforming the broader market's gain of approximately 2.3% during the same period. At the same time, trading volume surged by more than 65% to $39.7 million. CoinMarketCap data shows that it has become one of the most watched crypto assets, reflecting a rapid warming of retail investor sentiment.

The catalyst for this round of gains stems from the annual "Pi Day" on March 14th – a date with special significance given by the community. In the past few years, the Pi Network team has often chosen to release important updates at this time. This year, market expectations are particularly strong, as the network upgrade plan is expected to be completed on March 12th, at which time a decentralized finance (DeFi News) functional module will be launched to further enhance the ecosystem's practicality.

Crypto analyst Dr Altcoin pointed out that the price of PI has climbed from $0.166 to $0.238 in the past seven days. If the current upward momentum continues, combined with market expectations for the launch of PiDEX (decentralized exchange) or automated market-making mechanisms, the price is expected to challenge the $0.50 level. If it goes further, with the announcement of a listing on a well-known exchange such as Kraken, the price may launch an attack towards $0.75. From a technical perspective, the $0.20 to $0.204 area constitutes a key support level. If it can be firmly held, the next resistance level is located at $0.237. If buying continues to strengthen, it is expected to test $0.29. Conversely, once it falls below $0.20, it may retest the $0.186 support. It is worth noting that this round of gains is almost entirely driven by event expectations, which is a typical "buy the rumor, sell the news" pattern. If substantial progress can be announced on Pi Day, such as major cooperation, DEX launch, or exchange access, the price may continue to be strong; otherwise, if the news falls short of expectations, the market may experience a rapid correction. With only a few days left until March 14th, the market is holding its breath.