PI Rallies 30% On Kraken Listing Before Pi Day: What Is Going On?

Pi Network (CRYPTO: PI) surged 30% during Asia trading hours Friday after Kraken announced it will list the cryptocurrency ahead of Pi Day on March 14. The Kraken Listing Catalyst Kraken’s listing announcement triggered the rally as PI became available on a major U.S.-regulated exchange. The token is already listed on OKX, Gate, and Bitget, but Kraken’s entry expands access to mainstream retail and institutional traders. The timing coincides with Pi Day on March 14, a holiday celebrating the mathematical constant where the first three digits are 3.14. The date has become a marketing opportunity for Pi Network, similar to how pizzerias and bakeries offer discounts. Pi Network is a mobile-first cryptocurrency project that replaces traditional proof-of-work mining with a phone-based trust graph. Users tap a mobile app daily to “mine” tokens and form identity-verified security circles that feed into a consensus system derived from the Stellar protocol. The Scam Allegations The listing comes despite controversy surrounding the project. In February 2025, Bybit CEO Ben Zhou publicly refused to list PI and called the project a scam, citing a 2023 warning from Chinese police. Chinese authorities alleged Pi Network targeted elderly users, collected personal information, and caused some victims to lose pension savings. Zhou has maintained his refusal to list the token despite its presence on other major exchanges. Pi Network launched its externally connected mainnet in February 2025 after operating for years in a closed ecosystem. The project claims about 19 million KYC-verified users and roughly 10 million accounts migrated to the chain. The Technical Setup PI crashed 70% from August highs near $0.45 down to $0.12 by late February. But price launched off that floor in early March with strong green candles, nearly doubling from lows in just two weeks. The recovery structure looks encouraging. PI broke above an ascending channel, meaning buyers are stepping in at progressively higher levels. Price is now pushing into the $0.28-$0.30 zone, which was key resistance from January. RSI sits at 77.76, firmly in overbought territory. The rally has been fast and aggressive, suggesting some pullback or cooldown wouldn’t be surprising. Tomorrow being Pi Day could squeeze price higher short-term, but overbought conditions plus an event catalyst often sets up a “sell the news” reaction after March 14. The Key Levels If PI holds above $0.28-$0.30 and turns it into support, next targets sit around $0.35 and then $0.41. A healthy pullback toward $0.22-$0.25 would confirm buyers are serious rather than just chasing a quick spike. Failing to hold above $0.25 could mean this is just a dead cat bounce within the bigger downtrend, with $0.16 becoming the next safety net. Image: Shutterstock