#pi 🚨🚨🚨The Pi network is growing by 3.2% after updates, targeting $0.53

The price of Pi Coin increased by 3.2% to $0.3665 today, August 8, after dropping to a low of $0.335 earlier this week. A promising double bottom pattern resembling the letter W has emerged, indicating a potential rise of 40% to $0.53.
Trading volume increased by 52% to $76 million according to CoinMarketCap, indicating that traders are actively entering the market. With two major updates in the Pi network, people are hoping for significant growth.
Network upgrades increase confidence
A double bottom has formed when the price of Pi Coin was held at $0.336, attracting buyers back. If the price breaks through the resistance at $0.42327, the pattern may solidify, setting the stage for a rise to $0.53.
RSI above 50 and the price approaching the 50-day moving average signal that buyers are gaining strength, as was the case in June and July.
Two changes in the network contribute to this enthusiasm: the Stellar Protocol 23 update, which strengthens the overall Pi infrastructure, and improved KYB processes that make using Pi easier. These updates have led to 2.8 million coins leaving exchanges, according to Piscan data, indicating that more people are holding coins.
Nevertheless, some are selling, so buyers need to dominate to reach $0.53. The growing reliability of Pi could raise prices if adoption continues. Looking towards 2025, analysts believe that Pi could reach $2 or more if the network's value and market sentiments remain strong.