Leicester have won 13 of their 14 Championship games thus far and are sitting top of the league standings.
They are being backed by many to completely dominate the league and earn promotion to the Premier League with much room to spare this season.
They are in for a stiff test on Friday night when they will be hosting third-placed Leeds at the King Power Stadium.
Piper believes there is a more psychological aspect to the big Championship game than just three points being at stake for both teams.
He feels it would be massive if Leicester beat Leeds as it would send shivers down the rest of the Championship.
The former Leicester star said on the BBC’s When You’re Smiling Podcast: “I think with Leeds being in third place and already sort of 14 points adrift of our position, there is more on this game just because of the psychological aspect.
“I know this is early in the season, but if you have a good performance and beat Leeds, the rest of the division will be thinking ‘wow’.
“There is more of a psychological aspect to this game than just three points.”
Leeds are in good form ahead of the game, winning four of their last five Championship games, but Leicester is considered a big test for the Whites.