Pi Network Price Outlook: Will Binance Listing Push PI to New Highs?

Can Pi Network Maintain Its Momentum?

Pi Network has made a remarkable recovery after hitting a low of $0.6156 following its mainnet launch in February. On March, the cryptocurrency was trading at $1.7650—an impressive 190% jump from its lowest level on February 20.

Several factors suggest that Pi Network could continue its upward trajectory in the coming months.

Why Pi Network Could Keep Rising

One of the main reasons behind Pi Network's price resilience is its growing legitimacy. Many initially doubted the project, but its successful mainnet launch has helped dispel fears that it was a scam.

Another major factor is Pi Network’s potential as a candidate for a spot exchange-traded fund (ETF). As a "Made in USA" cryptocurrency with a market capitalization of over $13 billion, Pi is already larger than some cryptocurrencies that have received ETF applications, such as Stellar, Litecoin, and Hedera Hashgraph.

Additionally, early data indicates that Pi Network has a high trading volume, exceeding $800 million daily. This suggests strong investor interest, which could make an ETF based on Pi even more attractive.

Exchange Listings Could Boost Pi’s Value

Pi Network has already been listed on several major centralized exchanges, including OKX, Bitget, MEXC, and Gate.io. However, it has yet to be added to tier-1 exchanges like Binance, Coinbase, Upbit, Crypto.com, and Kraken.

A recent poll showed strong support for a Binance listing, increasing speculation that the exchange might add Pi to its platform. If Binance and other major exchanges list Pi, it could drive more demand, potentially pushing the price higher.

The Risk of Token Unlocks

Despite these positive catalysts, a significant risk could impact Pi Network’s price—token unlocks. According to CoinMarketCap, Pi Network has a maximum supply of 100 billion tokens, with only 7 billion currently in circulation.

Data from Pi Explorer reveals that millions of new tokens enter the network each month—188 million in February and 91.5 million in March. Over the course of the year, more than 1.4 billion new tokens will be released. This increased supply could dilute existing holders, putting downward pressure on the price.

Pi Network Price Analysis

Recent price movements show that Pi Network has faced resistance around the $2 mark. After reaching this high, it pulled back to $1.80, moving below the lower boundary of a rising wedge pattern—a bearish technical indicator.

Furthermore, Pi Network has formed a head and shoulders pattern, which could indicate a potential price decline. If this bearish trend continues, Pi may drop to retest the key support level at $1.533, last seen on March 2. However, if the price breaks above the right shoulder at $2, it could invalidate the bearish outlook and signal a continuation of the upward trend.

Conclusion

Pi Network has shown impressive growth, and its future looks promising, especially if it secures a Binance listing. However, the risk of token dilution remains a concern. Traders and investors should keep a close eye on upcoming exchange listings and token unlocks to gauge the potential for further price movements.