Pi Coin Surges 11.7% Overnight—Can It Defy Gravity and Hit $2?
Pi Coin just pulled off a jaw-dropping 11.7% rally in 24 hours—fueling speculation that the mobile-mined crypto could be gunning for $2. Traders are scrambling as the token shakes off its ’academic project’ reputation and starts behaving like a real asset (gasp).
But let’s not pop the champagne yet. The crypto market loves nothing more than a good pump-and-dump fairytale—and Pi’s lack of major exchange listings still has skeptics calling it ’play money for idealists.’
If this rally holds, though? We might finally get to see if Pi’s 35 million ’users’ actually translate to liquidity—or if this is just another case of retail investors chasing shiny objects while whales prepare their sell orders.
Source: CoinGecko
Pi Coin Rallies As Bitcoin Inches Closer To New Peak
PI’s latest rally comes amid Bitcoin (BTC) climbing to the $107,000 level. The original crypto is testing the $108,000 price point. BTC is very close to hitting a new all-time high. If BTC climbs to a new peak, we may enter another market-wide rally. BTC’s rally could be due to increased institutional inflows.
Another bullish development that may have pushed PI’s price is the GENIUS stablecoin regulation act moving forward. A clearer regulatory environment will likely lead to more investments.
PI’s price may have rallied due to investor expectations of an interest rate cut. A rate cut could lead to a surge in risky investments. Pi is a particularly risky asset, given that it does not have a lot of utility.
Will the Asset Hit $2 Next?
According to the analysts at CoinCodex, PI Coin may continue its rally over the coming weeks. The platform anticipates the token to breach the $2 mark on June 11. CoinCodex further expects PI to climb to a new all-time high of $3.94 on June 28. PI’s price will rally by 386.43% if it hits the $3.94 target.
There is also a possibility that PI will face a correction over the coming week. The asset does not have a lot of utility. There is a lot of risk associated with the token. If BTC faces a correction, PI will likely follow its trajectory.
