Excitement Builds as Pi Network Advances Toward Mainnet Launch
The Pi Network is creating waves in the cryptocurrency space as it moves closer to its much-anticipated mainnet launch. The recent Testnet1 upgrade to protocol version 23 has positioned the network for future stability, aligning it with Stellar’s v23 protocol transition. These developments mark significant progress for the project and have sparked renewed community interest.
Technical Analysis: Pi Coin Price Movement
As of today, the Pi Coin is trading at $0.3597, reflecting a 2.7% increase in the last 24 hours. The token has broken above its 30-day SMA of $0.3537, supported by a bullish MACD crossover and an improving RSI (climbing from 40 to 53). This indicates growing momentum and signals that bears are beginning to retreat.
The trading volume remains strong, with a 14% jump to $48.33 million overnight, highlighting rising demand. However, resistance lies ahead at $0.382. If Pi Coin achieves a daily close above this level, its next target could be $0.40. On the downside, failure to maintain support could lead to a retreat toward $0.344 or even $0.335.
Ecosystem Updates and Expanding Use Cases
Pi Network continues to evolve its ecosystem. Notably, it was a Gold Sponsor at TOKEN2049 Singapore, where co-founder Dr. Chengdiao Fan spoke about the network’s innovations. Moreover, the release of PiOnline, a DeFi farming game available on the Pi Browser, shows the platform’s commitment to creating a utility-based ecosystem.
Looking Ahead: Potential Growth in Adoption
The rollout of Testnet2 and the mainnet will be critical for Pi Network’s adoption and eventual success. If the mainnet launch garners significant market traction, it could pave the way for higher valuations, particularly in emerging markets such as India. Projections for 2025 suggest the possibility of the Pi Coin’s price surpassing its current value of ~₹30, but much will depend on global market trends and continued updates.
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