Today's Pi news presents an interesting development in the Pi token's market. Recently, we had the announcement for the PCM Wallet app's updates

This cryptocurrency is now being traded at 20 exchanges with a daily trading volume of $159 million. Despite this exciting Pi news and upgrade in user experience

Today’s Pi news, March 31, presents an interesting development in the Pi token’s market. Recently, there was an announcement for the updates in the PCM Wallet app, which will help Pi users manage their capital efficiently.

According to Pichain Global’s post, the new PCM wallet app has been updated with a focus on improving user experience. The PCM wallet has now been remade using Flutter, making the user interface smoother for crypto transactions.

The post mentions that muxed accounts have been integrated into the app, allowing Pi Network users to easily deposit and manage their tokens. Moreover, users can now withdraw their Pi tokens, with a 200 Pi withdrawal limit being set in the initial phase to ensure a stable launch for the app. However, this limit will be adjusted later.

KYB registration has also been added to the app to “strengthen its ecosystem”.

The PCM wallet is a non-custodial wallet that enables global transactions and payments, presenting cost-effective and efficient services. This app prioritises security and safely connects users to the PiChain ecosystem. The Pi network also allows users to mine Pi with mobile phones, which has contributed to the hype behind this token.

Now, Pi token is the 29th biggest crypto with a market capitalisation of $5.163 billion. This cryptocurrency is being traded on 20 exchanges and has a daily trading volume of $159 million.

Pi Network Unlocks Withdrawals – But There’s a Catch

Despite this exciting Pi news and upgrade in user experience, the token’s price has been going down for a few weeks now. This prolonged bearish trend is being attributed to an influx of Pi tokens in the market.

However, some speculation about the Pi network’s token burn system has brought hope for a bullish reversal. Additionally, there are also certain technical indicators and price movement patterns that make a bullish reversal likely.

As seen in Chart 1, we can now see a falling broadening wedge pattern on the Pi’s price chart. Such a pattern has historically been seen before a breakout in the price. If this signal proves to be correct, the crypto analyst DEXWireNews suggests that Pi could reach $2.52 in April. This is more than a 282% increase from the current value.

As the token holds above the $6.8 support, other technical indicators also affirm a future Pi coin price growth.

One of the main bullish indicators is the Relative Strength Index, which is showing nearly oversold conditions for Pi coin. This means that the token right now is undervalued, and with a positive fundamental catalyst, it can reach balance again.

Additionally, the volume histogram is also showing green condition now, meaning that the buying interest is increasing. If we witness a strong bullish fundamental development in the short term, we can expect a price increase to $3.5.

Will the New Wallet Spark a Pi Revolution in Crypto Utility?

The future of the Pi network and its native token’s price movement remains unclear. However, the recent upgrade of the PCM wallet can greatly increase the Pi token’s long-term potential and adoption.

Such innovations can make the token a part of users’ daily life and transactions, enhancing the ecosystem and utility. So if such innovative developments are continued, users can change their speculative investment on Pi to a utility-based and long-term investment.