More than 50%, with a 24% increase in the last 24 hours. It’s currently trading around $0.75, making it one of this week’s best performing cryptocurrencies. Trading volume has also surged to $474 million, an increase of 194% in 24 hours, indicating growing investor interest.
Technological innovation as a catalyst for growth
One of the main factors behind this growth is the introduction of the new ‘Satellite Mode’ feature on the Pi Network. This innovation allows users to access the network, mine coins and use applications without the need for an internet connection, a significant step towards wider accessibility.
Pi Network’s user experience improvements also implemented two key enhancements: an accelerated identity verification (KYC) process, which now takes less than 5 minutes, and the ability to instantly activate the wallet for new users. These improvements make it easier for new users to enter the Pi ecosystem.
Technical analysis suggests further upside
Technical indicators such as the RSI at 75 and the positive MACD signal suggest strong buying pressure and the possibility of further price growth. Pi Coin maintains support above the $0.70 level, which boosts investor confidence in the ongoing bullish trend.
Macroeconomic factors are fueling interest in cryptocurrencies
The Federal Reserve’s recent cut in interest rates to 2.4% to control inflation has led investors to seek alternative ways of capital appreciation. These macroeconomic developments are contributing to the growing interest in cryptocurrencies, including Pi Coin.