Pi Network price continued its recovery on Thursday morning after the developers partnered with CiDi Games, and as the crypto market recovery continued. It soared to a high of $0.2550, its highest level since October 29. It has jumped by 67% from the lowest point this year.
Pi Network Price Jumps After CiDi Investment
The Pi Coin price has done well in the past few days, a trend that may continue in the coming days as its ecosystem continues growing. In a statement, the company said that it had partnered with CiDi Games, a gaming platform that has built games that are integrated with Pi.
In a statement, the developers noted that the partnership will expand the utility of the Pi token. It will also provide commitment to developers 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 that the platform’s future is in industries like gaming and artificial intelligence (AI). These are some of the biggest industries today, with AI being 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 that the Pi Network can boost its growth and the value of the token over time. A vibrant ecosystem will likely push more exchanges like Binance and Coinbase to list it.
Odds of Pi Network exchange listing have soared after the team launched a white paper on 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 such that it has outperformed other popular coins like Bitcoin and Ethereum.
The token is now nearing the important resistance level at $0.2945, its highest point in October and the neckline of the double-bottom pattern.
Pi has moved above the Supertrend indicator, which is a highly bullish sign in technical analysis. 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 point at $0.50.
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