Pi Network price experienced a significant upward trend this week, reaching a high of $0.2817. This marks its highest point since September 1 and represents a 68% increase from its lowest valuation of the year.
The token's recent rally has been attributed to several key developments, including the Pi Core Team's initial investment into OpenMind, a company focused on artificial intelligence and robotics. This investment is part of a larger $100 million ecosystem fund launched in May. The partnership aims to explore the integration of Pi Network's technology with AI and robotics, as evidenced by a proof-of-concept project where Pi Node operators ran AI models for OpenMind.
Pi Network and OpenMind have completed a proof-of-concept project where volunteer Pi Node operators ran AI models for OpenMind, proving it’s possible for Pi Node operators to run computations for third-party organizations. Learn more https://t.co/8nVMiFUzqT
Further bolstering the price surge, Pi Network's Know Your Customer (KYC) verification process has shown promising results. The platform recently announced the eligibility of approximately 3 million new pioneer cases for easy verification, following a previous announcement of 3.6 million verified pioneers. This increased accessibility and verification contribute to the network's growing utility.
Over 3.36 million additional Pioneers have fully passed KYC after a recently released system process made 4.76 million Tentatively KYC’d Pioneers eligible for full KYC completion through conducting additional checks! https://t.co/0BTZSNdxBy
Around 3 million more Tentative…
Additionally, speculative reports suggested that Pi Network might be pursuing ISO certification, similar to initiatives by Stellar and Ripple. Such a certification would enhance its compatibility with traditional financial institutions and potentially pave the way for exchange listings.
Pi Coin Price: Technical Analysis and Outlook
Technical indicators suggest a positive outlook for Pi Coin. The daily chart illustrates a recent rebound in Pi's value, moving from a low of $0.1535 to $0.2515. This recovery occurred after the formation of a falling wedge pattern, a bullish continuation signal.
The price has successfully broken out of this pattern and retested its upper trendline, reinforcing the likelihood of a sustained upward movement. Indicators such as the Relative Strength Index (RSI) and the True Strength Index (TSI) are both trending upwards, further supporting the bullish sentiment. Based on these technical factors, the price of Pi is anticipated to continue its ascent, with a potential target around the significant psychological level of $0.50.