Pi Network Token Sees Significant Price Growth Amid Developer Updates
The Pi Network token has seen significant price growth over the past week, increasing by 4.81%. This is more impressive than Bitcoin's returns of 2.13% in the same period.
The team behind Pi Network has introduced new capabilities for developers, including local storage support and access to app-specific staking data. This should improve the network's utility and contribute to its value growth.
However, despite this bullish development, PI is still operating within a broader downtrend. Key swing levels to watch are $0.139 and $0.070, which mark the bearish structure's relevant swing high and low, respectively.
The CMF has been above +0.05 for nearly a month now, indicating significant capital inflows. However, even if the price breaks past the daily swing high at $0.1395, bulls must remain cautious as this could signal only a long-term trend shift.