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Author
Joel Frank
Author
Joel Frank
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Why Trust Cryptonews
It’s been a bloodbath in the crypto market in recent days, with Bitcoin (BTC) dumping back to the low $ 80,000s, but Pi Network (PI) is pumping hard.
PI, which powers the Open Network blockchain launched by Pi Network one week ago, is up over 250% since its launch.
Per CoinMarketCap, its price was last around $2.60, implying an already massive market cap of around $17 billion based on circulating supply reports of 6.65 billion tokens.
Analysts on X pointed out that PI appears to be in the process of forming a bull flag that could see it quickly surge another 2x higher from current price levels.
And a Binance listing could be just the catalyst to send its token surging higher. One analyst on X noted that over 192,000 Binance users had voted to add the token to the exchange.
Is Now a Good Time to Buy Pi Network?
If Pi Network is on the cusp of posting a 2x rally, then now would be a great time to get into this crypto.
That said, with a market cap hovering around $17 billion — bloated by a massive 100 billion total supply and an unclear circulating amount — it’s a risky bet.
It’s already shown a lot of short-term volatility, crashing 62% within a day of its original launch as early miners dumped their holdings.
Who is to say that early PI token miners won’t again dump their holdings? Meanwhile, PI is propped up by a huge user base but lacks robust real-world utility.
Moreover, liquidity is thin, with market depth on exchanges like OKX barely hitting $100K, signaling volatility ahead.
Add in broader crypto market uncertainties—like potential dips tied to Bitcoin trends—and skepticism over Pi’s transparency, and the timing looks shaky.
For now, PI’s hype might outpace its fundamentals, making caution key.
