Pi Network price surges past $1 in a strong rally, surpassing Litecoin and Bitcoin Cash in both value and market capitalization.
The price of Pi Network has reclaimed $1 following a ferocious rally that has propelled its market capitalization beyond that of Litecoin and Bitcoin Cash. Investors are watching for a sustained rally in Pi Coin in a push driven by heavy whale accumulation.
The Pi Network price has increased to $1.19 to facilitate the exchange of Litecoin and Bitcoin Cash
Pi Network initiated a seismic rally after exhibiting numerous signs of brilliance, resulting in a remarkable 50% increase in a single day. The price of Pi Network attained a daily peak of $1.19 from a previous low of $0.73, as indicated by CoinMarketCap data.
Pi Network’s market capitalization reached over $8 billion at its zenith, surpassing Litecoin and Bitcoin Cash. According to the cryptocurrency aggregator, Pi Network has risen from 27th place to the 18th largest cryptocurrency by market capitalization.
In addition to increased market capitalization and prices, Pi Network volumes increased by $600%, surpassing $1 billion. Additionally, due to the remarkable rally, Pi Coin is the largest gainer among the top 30 largest cryptocurrencies by market capitalization.
BCH accumulated $0.24 in the same timeframe, while LTC only acquired 0.42%, as Pi Coin accumulated impressive metrics. The price of Pi Coin is expected to increase by 100% at the beginning of the week following the formation of an Adam and Eve pattern, as indicated by previous on-chain analytics.
The 50% rally is being fueled by whale accumulation
A frenetic whale accumulation is driving the Pi Network rally and glowing on-chain analytics. The rally was initiated by an unknown whale who transferred 70,000,000 Pi from exchanges before the rally commenced.
Following the acquisition of 20 million Pi by another behemoth from the OKX exchange, a clear path toward $1 was established. Retail investors are acquiring Pi Coins in significant quantities due to various favorable fundamentals surrounding the network.
To begin, investors anticipate the Consensus Summit in mid-May, which will commence with a Pi rally, and they will purchase coins at a discounted rate. The Pi Core Team is also acquiring Pi Coins from centralized exchanges to stabilize the Pi Network price after the token release event.
The Pi Core Team has previously hinted at a significant announcement on May 14, which has sparked a surge of excitement among investors. Amidst the combustible atmosphere surrounding Pi, there is speculation that a Binance listing is imminent in response to a series of “rumored” test transactions.
