Pi Coin has registered a price increase, and the market is watching for potential further increases in value.
Price Growth of Pi Coin
Pi Coin's price increased by 3.2% to $0.3665 on August 8, after dipping to $0.335 earlier in the week. A promising double-bottom pattern suggests a potential rise to $0.53.
Network Upgrades and Their Impact
Trading volume surged by 52% to $76 million, indicating high trader interest. Two key upgrades in the Pi Network, such as improvements in Stellar Protocol and enhanced KYC processes, have increased confidence in the project. This leads to 2.8 million coins leaving exchanges, with more people beginning to hold Pi Coin.
Future Prospects
Signals such as the RSI above 50 and the price nearing the 50-day SMA indicate that buyers are gaining strength. Analysts forecast that, if trends continue, Pi Coin could reach $2 or more by 2025.
If the trust in the project continues to grow and its successful market adaptation persists, Pi Coin possesses the potential to reach new heights.
