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What’s New Around Pi Network?
The Pi Network, a controversial crypto project, marked a major achievement on February 20 when it finally released its Open Network, which also saw the launch of the PI token. The asset’s valuation experienced huge turbulence during its first trading days, ranging from under $0.70 to an all-time high of almost $3 (registered on February 27). Since then, PI has been experiencing an evident downfall, currently hovering at around $0.92 (per CoinGecko’s data).
The exchanges that have already embraced the coin include OKX, Bitget, Gate.io, and CoinEx (the latest to hop on the bandwagon). Additional support from major platforms might positively affect the price and reverse the negative trend. The community expects Binance’s decision, which held a vote last month to check whether its users want to see PI listed on the exchange. Over 86% of the voters clicked the "yes" option, but the company has yet to respect their wishes.
Meanwhile, the team behind Pi Network did not extend the KYC process (known as the Grace Period), meaning users who did not take the necessary steps until March 14 risked forfeiting most of their minted PI tokens. Recently, the developers behind the project said some Pioneers will have to complete two-factor authentication (2FA) using a trusted email before their PI holdings get successfully migrated to the mainnet blockchain.
Earlier this week, Pi News (a media channel focusing on the project) claimed that PI investors can now see their tokens in the official wallet of the popular messaging application Telegram. Additionally, Pi Network informed that community apps that have complied with the ecosystem’s listing guidelines and completed PiNet migration by May 28, 2025, can "secure their domains without bidding, with certain requirements and restrictions."
DOGE Heads North
The biggest meme coin in terms of market capitalization is the best-performing top 20 cryptocurrency today (March 25). Its price has surged by over 5%, and it’s currently trading at above $0.18.
Perhaps the most apparent reason triggering the rally is the establishment of "The Official Dogecoin Reserve" by House of Doge – an entity related to the meme coin. Through the launch of the Reserve and an initial 10 million Dogecoin purchase, House of Doge is creating a proof of concept to show that Dogecoin can facilitate seamless and efficient transactions.
DOGE’s pump caught the eye of numerous analysts who envisioned further gains in the near future. Ali Martinez, for instance, estimated that the price has broken out of its multi-week triangle, which could be a precursor of a 16% upswing. The X user Trader Tardigrade was much more bullish, projecting an explosion to a new all-time high of over $6 in the following months.
SHIB Price Outlook
DOGE’s biggest rival has also entered into green territory, albeit registering less substantial gains than the OG meme coin. While Shiba Inu has pumped by 3.5% in the past 24 hours, some important factors suggest this might be the beginning of a new bull run.
As CryptoPotato reported, those factors include the increased activity on Shibarium, the recent spike of the SHIB burn rate, and the negative exchange netflows (on a weekly scale), which signal reduced immediate selling pressure.
Conclusion
In conclusion, the cryptocurrency market is experiencing a surge in the prices of certain meme coins, with DOGE and SHIB leading the charge. The reasons for this surge are varied, but it is clear that there is a growing interest in these coins. As with any investment, it is important to do your own research and consult with a financial advisor before making any investment decisions.
FAQs
Q: What is the Pi Network?
A: The Pi Network is a decentralized, open-source cryptocurrency project that aims to provide a new way for individuals to earn and spend cryptocurrency.
Q: What is DOGE?
A: DOGE, or Dogecoin, is a decentralized digital currency that was created as a parody of the hype surrounding Bitcoin.
Q: What is SHIB?
A: SHIB, or Shiba Inu, is a decentralized digital currency that is often referred to as the "rival" of DOGE.
Q: Why is DOGE surging in price?
A: DOGE is surging in price due to the establishment of "The Official Dogecoin Reserve" and the launch of an initial 10 million Dogecoin purchase.
Q: Why is SHIB rising in price?
A: SHIB is rising in price due to increased activity on Shibarium, a recent spike in the SHIB burn rate, and negative exchange netflows.
