The price of Pi Network's crypto has seen a remarkable increase this week

The price of Pi Network's crypto has seen a remarkable increase this week, rising to a peak of $3 on Wednesday

The price of Pi Network’s crypto has seen a remarkable increase this week, reaching a high of $3 on Wednesday. This marks nearly a 400% rise from last week’s lows of $0.60.

As the cryptocurrency market experiences a downturn, with many digital assets showing declines, Pi Network’s token has reportedly risen to an all-time high, propelling the self-reported market capitalization of Pi Network to over $16.3 billion.

Recent trading activity indicates a significant portion is happening on OKX, one of the largest cryptocurrency exchanges that has already listed Pi, alongside other platforms like HTX, Bitget, MEXC, and Gate.io. The anticipation surrounding a potential listing on Binance has also fueled interest in the Pi coin, as a poll by Binance has attracted millions of votes, with a majority showing support for its inclusion.

This listing could be followed by Coinbase, providing access to U.S. clients, and Upbit, connecting the coin to South Korean traders, according to DeepMindAI. As more exchanges begin to support it, it could also lead to increased visibility and trading volume for Pi Network.

Earlier this year, there was skepticism, particularly during its closed mainnet phase since 2021, but recent developments have helped bolster perceptions of legitimacy. Successful migrations of tokens to the mainnet have also alleviated concerns regarding the network’s credibility.

Technical analysis of the Pi coin shows a bullish pennant pattern forming, which suggests the possibility of continued upward momentum. Following its recent lows, the token has also shown a break-and-retest pattern, with analysts, such as DeepMindAI, predicting potential price targets of $3.14 and even $5.