Pi Network price continued its recovery on Thursday morning after developers partnered with CiDi Games, and as the crypto market recovered. It soared to $0.2550, its highest level since October 29. It has since jumped by 67% from the lowest point this year.
Pi Network Price Jumps After CiDi Partnership
The Pi Coin price has done well over the past few days, a trend that may continue in the coming days as its ecosystem continues to grow. In a statement, the company said it had partnered with CiDi Games, a gaming platform that has developed Pi-integrated games.
In a statement, the developers noted that the partnership will expand the utility of the Pi token. It will also provide developers with confidence that the team is fully committed to growing the gaming ecosystem. Also, the collaboration will create new opportunities for users to engage with Pi.
Pi Network also deployed funds from the $100 million venture fund for this partnership. This makes CiDi Games the second recipient of the fund after the developers invested in OpenMind, a company at the intersection of the AI and robotics industries.
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As such, there are signs that Pi Core Team believes the platform’s future lies in industries such as gaming and artificial intelligence (AI). These are among the largest industries today, with AI as the main theme in the market. Its statement added,
“The partnership between Pi and CiDi Games reinforces Pi’s ongoing initiative toward building out a viable, self-sustaining gaming environment in the Pi ecosystem, and will take these efforts to the next level.”
Creating a viable ecosystem is one way the Pi Network can boost its growth and the token’s value over time. A vibrant ecosystem will likely push more exchanges, such as Binance and Coinbase, to list it.
Meanwhile, the odds of Pi Network receiving an exchange listing have soared after the team launched a white paper for its MiCA application.
Pi Coin Price Technical Analysis
The daily timeframe chart reveals that the Pi Coin price has rebounded in the past few days. It has done so well that it has outperformed other popular coins, including Bitcoin and Ethereum.
The token is now approaching the important resistance level at $0.2945, its October high and the neckline of the double-bottom pattern.
Pi has moved above the Supertrend indicator, a highly bullish technical signal. It has also soared above the 50-day Exponential Moving Average (EMA).
Therefore, the token will likely continue rising in the coming weeks. A move above the key resistance at $0.2945 will boost the odds of the token rising to the psychological $0.50 level.
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