Pi Coin Soars 61% Monthly, Outperforming Bitcoin & Ethereum: Here’s Why PI Is Dominating

Pi Coin (PI) is flashing a major warning sign after a blistering 61.6% monthly rally, with analysts cautioning a potential 10% correction as the asset dramatically outperforms market leaders Bitcoin and Ethereum. The cryptocurrency surged 5.6% in the last 24 hours, extending its weekly gain to 33% and cementing its dominance among the top 100 projects by market capitalization, according to CoinGecko data.

What’s Pushing Pi Coin’s Massive Price Rally?

Pi Coin’s latest upswing began a few days ago after the project announced a few updates for the project. According to the project’s official X page, it will roll out the third step of updates on March 12, 2026. The move may have led to a surge in investor confidence.

Protocol upgrades in progress (Step 3 – Deadline: March 12): The Pi Mainnet blockchain protocol continues to undergo a series of upgrades. All Mainnet Nodes are required to complete this step before the deadline to remain connected to the network. Details here:…

Despite Pi Coin’s massive gains over the last few days, the asset’s price is still down by 83.3% since March 2025. PI’s price has also fallen by more than 92% from its all-time high of $2.99, which it attained in February 2025. Moreover, given the bearish market environment, there is a high chance that PI will face a price correction in the coming days. Investors could book profits and pivot their funds to safer alternatives.

The appetite for risk is currently very low. Market participants began a risk-off approach in late 2025 due to growing macroeconomic uncertainty, geopolitical tensions, and falling liquidity. Pi Coin’s (PI) rally is likely based on its upcoming update, and it is unclear if the rally can sustain once the update is over. The asset could fall victim to larger market forces, which are currently on the bearish side of things.

CoinCodex analysts are also quite bearish on PI’s performance over the coming weeks. The platform anticipates the asset to face a steep correction to $0.1608 on March 20. Dipping to $0.1608 from current price levels will entail a correction of about 30.36%.