NOIDA (CoinChapter.com) — Pi Network fans and team are busy shilling the project nearly four months before the planned mainnet launch in June. Meanwhile, projects in the Pi Network ecosystem are introducing new updates, which they will likely implement with the mainnet launch in June 2024.
Social media is rife with posts ranging from some random PI coin user, aka a ‘Pioneer, ‘using the platform’s token for trade and going to the usual speculation of PI coin’s price target once mainnet launches.
Yet, news like these updates could help Pi Network convince users of the team’s efforts to expand the project’s ecosystem. Delays in the Pi Network mainnet launch have tarnished the project’s image, with some users even labeling the project a scam a while back.
Meanwhile, Pi Network continued its campaign to complete the KYC of all its users before the launch of its open mainnet in June 2024. The project had announced the launch of its mainnet earlier this month.
UI Updates And App Launches Could Help Pi Network
A Pi Network news account shared an update regarding a browser update in the Pi browser’s user interface (UI). Per the announcement, the update would allow the browser to “a record of recently visited URLs on the Pi Browser’s home screen.”
The Pi Network media team stated that the latest update would allow the Pi browser to become similar to “actual Web3 browsers” gradually by getting similar functionality.
Another news linked to the Pi Network is the launch of the Connect Social Android app on the Google Play Store.
The platform is likely associated with Pi Network’s recent initiatives to enhance social interaction within its ecosystem.
Specifically, Pi Network introduced Fireside Forum, a Web3 social platform designed to foster authenticity, constructive conversations, and healthier online interactions.
PI Token Price Action Remains Uneventful
Despite recent Pi Network developments and a bullish wider market sentiment, PI coin price continued crabbing near the $30 price tag. Pi coin users likely remain in a holding pattern, awaiting the promised open mainnet launch to reap benefits.
However, if buyers enter the market as the Pi Network mainnet launch approaches, the token’s price could rally to its 200-day EMA (green wave) resistance near $33.4
Breaking above the immediate resistance could help the PI coin price rally to the resistance near $36.3 before correcting.
However, further delays in the KYC approvals or open mainnet launch could be bearish for the token. As such, the token would likely test the support near $29. Failure of immediate support might see the token dropping to the support near $30, despite Pi Network’s recent developments.
The RSI for the PI coin remained neutral, with a score of 53.77 on the daily charts.
