Pi Coin Rallies 11% on Binance Listing Speculation
2min read Pi Network (PI) is on the brink of a significant milestone as a Binance wallet, active for two months, has shown recent activity, reigniting hopes for a $1 target. This development has sparked speculation and excitement within the cryptocurrency community, with traders and analysts closely monitoring the situation.
Speculation around potential Binance-linked wallet activity has intensified, with signs of untapped exchange demand emerging. This has positioned pi as a frontrunner in the conversation about the best cryptocurrency to buy, leading to an 11% rally in early Thursday trading. However, the momentum has since cooled, and the market remains cautious.
Moon Jeff, a popular crypto community researcher, noted that a Binance-linked stellar deposit wallet is now active on the Pi mainnet. This wallet, which is the same as Binance's PI wallet, has started testing transactions on the PI chain. Additionally, a second wallet has seen similar activity, sending 1 PI for what appears to be Know Your Customer (KYC) and Know Your Business (KYB) verification. While neither Binance nor the pi network core team has issued an official statement, traders are interpreting these moves as a potential prelude to a listing.
Adding to the buzz, Pi Barter Mall—a prominent X Pi community platform—claimed on May 1 that Pi Network is “in final negotiations” with Binance. This claim, coupled with the recent wallet activity, has fueled optimism among traders and investors.
A Binance listing could be the catalyst Pi Coin needs to complete a breakout from the descending channel forming since its mainnet launch rally. Since its initial breakout in mid-April, Pi Coin has been range-bound between $0.55 and $0.80, struggling to break higher. It currently stands 65% below the pattern’s $1 target. This stagnation is largely driven by inflationary pressures, despite buyer dominance, the MACD line remains in a sidetrend, closely tracking above the signal line.
With $151 million in tokens set to unlock in the next 30 days, supply continues to outpace demand, limiting bullish momentum. However, the RSI has moved out of oversold territory near 30, reaching 47, signaling a potential momentum shift as it approaches the neutral line at 50. Looking ahead, May could be pivotal for Pi Coin, with an expected May 14 ecosystem announcement and a showcase at Consensus 2025. Commentators believe these events could spotlight the Pi Network’s ecosystem, shifting its narrative beyond a highly inflationary, speculative asset with limited use case.
Ask Aime: Could Pi Network's Binance wallet activity herald a $1 target?
With these stacking catalysts, Pi Coin could break the $1 target, potentially eying further resistance at $1.40 and $1.70. The upcoming events and the recent wallet activity have created a fertile environment for growth as market headwinds begin to clear. Traders and investors are eagerly awaiting further developments, hoping that this could be the catalyst for a significant surge in Pi Coin's price. 
