Pi Coin price has surged heavily in the past few days, climbing above $1.50, a level it hadn’t seen since March. While most of the crypto market has remained relatively stable, Pi Network has grabbed headlines with its sudden momentum. In a recent video, crypto expert Gerhard – Bitcoin Strategy with 138K subscribers analyzed what’s fueling the rally and how high the token could go from here.
One of the biggest drivers behind the recent price spike appears to be a massive $70 million Pi token purchase made on OKX on May 10. This was highlighted in a Binance guest article and has sparked speculation about a potential Binance listing, which could further boost Pi’s Network exposure and demand.
According to Gerhard, the move may have triggered a classic short squeeze. On Bitget, spot volume reached $500 million, while Gate.io’s futures volume crossed $1 billion. That kind of imbalance between spot and futures trading often forces short sellers to buy back, rapidly driving up prices. Following this event, Pi token has jumped more than 71%, forming a steep, vertical price movement.
What you'll learn 👉
Could Pi Coin Price Reach $10 or More?
Gerhard compares Pi Network price action to its relative performance against Bitcoin. Initially, Pi Coin showed promise but then underperformed BTC for a while. However, the whale buy seems to have marked a shift in momentum. If the Pi token returns to its previous peak versus Bitcoin from February 27, it could gain another 190%.
At that point, Pi Network would be sitting at a $26 billion market cap, slightly higher than TRON, and trading at around $365. Still, the analyst warns that calling the exact top is never a good strategy. Instead, he suggests gradually locking in profits as the price rises.
Read Also: XRP Price to $3 and Ethereum to $3K? AI Crypto Price Predictions for This Week
Furthermore, looking at the broader market, Gerhard notes that stablecoin inflows have been growing steadily since October 2023. That’s typically a sign of fresh fiat entering the crypto space. When stablecoin dominance falls, investors tend to shift toward riskier assets, which often benefits altcoins like Pi Network.
Right now, stablecoin dominance is heading lower, a trend that has historically coincided with crypto bull phases. That backdrop could be giving Pi Coin an extra tailwind.
Early Movers Still Have the Edge
Gerhard also points out that success in crypto often comes down to timing. He tracks around 600 influencer wallets, including those of Brian Jung, Alex Becker, and Crypto Banter, to see where early money is moving. One standout example was Jung’s early buy into Virtual Protocol at $0.07, before it surged over 6,000%.
With Pi Coin price showing renewed strength, many are now watching to see whether the rally has more room to run, and if $10 is just the beginning.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Read our recent crypto market updates, news, and technical analysis here.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
