Pi Coin (Pi Network/PI) continues its dominance among the top 100 projects by market cap. The asset is currently outperforming top projects like Bitcoin (BTC), Ethereum (ETH), XRP, etc. According to CoinGecko data, PI’s price has surged 33.1% in the last week, 39.7% in the 14-day charts, and 61.6% over the previous month.
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.
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.
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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%.
