Pi Network Reveals 100 Billion Token Supply Over Price Revival

The native cryptocurrency of Pi Network (PI) fell 80% from its peak in February before showing new signs of growth that indicate it could rise by 50%. The network released new token documentation that sets its maximum PI token number at 100 billion to match its 2021 Whitepaper information. As Pi Network moves toward more open sharing its technical readings improve.

PI moved beyond its strong obstacle on April 17 which overcame its downward trend since early March. A daily price chart reveals the typical rounding bottom pattern which signals a trend change.

Several technical indicators support this bullish outlook:

• Money Flow Index (MFI) climbing to 67.47, signaling increased buying momentum
• MACD turning positive as the 12-day EMA crosses above the 26-day EMA
• Potential target of $0.96 based on the 0.786 Fibonacci retracement level

Nevertheless, traders must take note of the possibility that PI may revisit the $0.40 support level in conditions of fading momentum or a return to bearish alignment of the EMAs.

PI couplings seem to be setting up what can be considered a short-term catalyst, probably even with improving price action, clear tokenomics, and strong community engagement. Nothing is changing when it comes to market uncertainties, and thus, current and prospective Pioneers are keeping a close eye on the developments that would determine whether or not PI meets its bullish potential.

There was no easy way for the Pi Network supporters who have waited for years to see the official launch and listing of PI. The price has gyrated since its introduction but the network will remain focused on its long-term vision, as the recent communications have shown. PI has clearly established parameters for token supply while promoting a balance of accessibility and long-term value for its community.