Pi coin surges 293% since launch: what’s fueling the surge?

Pi Coin has experienced a remarkable surge since its launch, seeing a 293% increase in value, outpacing major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin.

The surge is largely attributed to the launch of Pi Network’s Open Mainnet and the potential listing of Pi Coin on prominent exchanges, including Binance. This has sparked investor enthusiasm, driving significant growth in both trading volume and market capitalization.

Pi Coin has surpassed well-known cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana, USDC, and Dogecoin, which have seen declines ranging from 9% to 20% in the past week.

The official launch of Pi Network’s Open Mainnet on February 20 enabled users to transfer Pi Coin outside the network for the first time, a major milestone. Since then, Pi Coin has been listed on leading cryptocurrency exchanges like OKX, Bitget, and CoinDCX, further increasing its accessibility and liquidity.

Several factors are driving the rapid rise in Pi Coin’s price:

1. Open Mainnet Launch: The much-anticipated launch generated significant buzz, introducing new functionalities that sparked optimism.
2. Increased Exchange Listings: As more exchanges list Pi Coin, its accessibility improves, enhancing liquidity and demand.
3. Strong Community Support: With a user base of over 60 million, Pi Network enjoys robust community backing, which bolsters market activity and resilience.
4. Limited Token Supply: A large portion of Pi tokens remains locked, limiting supply in the market. This scarcity, coupled with high demand, has contributed to the upward price movement.

Despite a brief drop in price following the mainnet launch, with Pi Coin dipping below $1, the current price has rebounded. As of the latest data from Binance, Pi Coin is priced at $2.95, with a 24-hour trading volume of $232.4 million.

Looking ahead to 2030, analysts predict that if Pi Coin continues to grow as a widely used digital currency with real-world applications, its price could surpass $500, marking it as a major player in the cryptocurrency market.