The Pi Network project is at a decisive moment, rolling out key updates while traders analyze price signals. The PI token is currently trading at $0.3483, up 1.6% compared to the previous day.
Price and Technical Indicators of Pi Network
Despite the progress, Pi's price movement remains uncertain. According to TradingView data, the Pi token is trading around $0.3489, which is a 0.40% dip. With the 50-day moving average sitting at $0.3514, it holds back any upward movement, while the 200-day is at $0.3843.
Data shows that Pi briefly surpassed $0.46 early this month but failed to sustain that momentum, falling back below the moving averages. The coin has been fluctuating between $0.33 and $0.37 since then, indicating market hesitancy.
Social Buzz and Market Sentiment
Data from the analytics platform Santiment indicates that Pi's momentum is starting to wane. Engagement levels hit highs in March, May, and July, providing temporary price boosts before they started to decline. By the end of August, both social dominance and volume had decreased, reflecting diminishing traction on Pi's price.
Updates in the Pi Network Ecosystem
The Pi Network continues to develop with the launch of the Linux version of its Node software, seen as a crucial step for decentralization. This update simplifies installation, maintenance, and updates, aligning the network with systems used by partners and exchanges. Previously, Pi Nodes only supported Mac and Windows, forcing Linux users into custom builds.
Pi Network continues to implement new technologies despite price fluctuations. Future success will depend on market confidence and solid support.
