After months of silence and a sharp price drop, Pi Coin is suddenly back in the spotlight.

Pi Network coin, known for its “tap to earn” mining system, has finally broken out of its long bearish trend.

After months of silence and a sharp price drop, Pi Coin is suddenly back in the spotlight. In just one week, it has jumped over 50%, with a 24% gain in the last 24 hours alone, making it one of the top-performing coins of the week. So, what’s driving the Pi coin price up? Let’s find this out.

Why Pi Coin Price Pumped

Pi Network coin, famous for its "tap to earn" mining system, has finally broken out of its long bearish trend. The token is currently trading around $0.75, with trading volume soaring to $474 million, a 194% increase in just 24 hours.

This is a massive leap and showcases that investors are returning to the coin.

One of the biggest factors contributing to the Pi coin price spike is the Pi Network's latest tech rollout - Satellite Mode. This new feature enables users to access the Pi Network, mine coins, and use apps without needing the internet.

Yes, you heard that right - no Wi-Fi, no 4G, just satellite support.

Another reason for Pi Coin's price rise is the Fed's recent move to lower interest rates to 2.4% in an attempt to control inflation.

When rates are low, people tend to search for better ways to grow their money, which is where crypto like Pi Coin can receive more attention.

Key System Upgrades

Furthermore, Pi Network has launched two crucial user-friendly updates:

- Fast KYC Process: Now, users can complete identity verification in less than 5 minutes.

- One-Tap Wallet Access: New users can activate their wallets instantly and begin using the Pi ecosystem seamlessly.

Pi Coin Analysis Aim $1

Examining Pi Coin's 4-hour price chart, it reveals the formation of a strong bullish pattern. Meanwhile, technical indicators suggest that the RSI has surged to 75, highlighting significant buying pressure. Additionally, the MACD has generated a positive signal, supporting the notion that Pi may rise further.

Currently, Pi is maintaining a strong position above the $0.70 support level. If it continues its upward trajectory and breaches the $0.82 resistance, the next price target could be set at $1.