Pi Network Coin price rally accelerated on Saturday after the developers revealed results of its collaboration with OpenMind, a company it invested in last year. It surged to $0.2400, its highest level since December, and 80% above the lowest level in February.
Pi Network and OpenAI Collaboration
Pi Coin was among the top-performing tokens in the cryptocurrency market, and technical analysis suggest that it has more upside to go. The rally is partly because of the ongoing protocol upgrade and the upcoming Pi Day event.
In a statement, Pi Network developers revealed that the case study of its collaboration with OpenMind, a top AI and robotics company, was successful. The collaboration involved 7 volunteer node operators, who participated in a test on whether OpenMind can use its distributed model to provide computing power.
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OpenMind developed a container that could request computing tasks from individual computers instead of using the expensive data centers. Pi node operators downloaded the containers to run on their computers. It then sent tasks through these containers to process various images using its models. The statement added:
“The proof-of-concept project was run successfully. Tasks were correctly pushed to the external testers (volunteer Pi node operators) and valid results were sent back to OpenMind—and the use case was proven.”
While the test was successful, there is too much work left to do. In the future, Pi Network and OpenMind hope to use its validators in scale to provide computing power.
It will allow its validators to earn money, in the form of Pi, to provide computing power. Most importantly, more companies may join the project in the future as companies are spending billions of dollars in attracting computing power in the new age of AI.
Pi Network is also aiming to leverage its technology in other ways. For example, its KYC model has successfully verified over 16 million people in the past few years. The next stage will be to launch the KYC-as-a-Service, which will rival other popular players like Humanity Protocol and Worldcoin.
Pi Coin price is also soaring as traders anticipate that it will be listed by Kraken soon. Dr. Altcoin noted that the company has already listed two of the 6 chains that were in its listing page last month. This means that Pi could be next, especially with Pi Day nearing.
Pi Network Coin Price Prediction
Pi token chart | Source: TradingView
An important thing has happened in the ongoing Pi Coin price bull run. It has moved above the important resistance level at $0.2032, its highest swing in February. By moving above that price, it has invalidated the forming double-top pattern, which is a common risky sign in technical analysis.
Another notable thing is it has already moved above the 50-day and 100-day Exponential Moving Averages (EMA), confirming that there is a short-term bullish momentum. This is also confirmed by the Average Directional Index, which has pointed upward.
Therefore, Pi token will likely continue the bullish momentum as investors target the key resistance level at $0.2830, its highest level in November last year. A move above that level will point to more gains to $0.300.
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