PI’s price action is forming an Adam and Eve pattern, indicating a potential bullish reversal.
Recently, Pi Network invested in OpenMind, a $20 million AI robotics company, sparking renewed optimism for PI. However, concerns have surfaced within the Pi community after the project requested volunteers to help combat misinformation in public forums—without offering rewards—raising doubts and unease among users.
OpenMind, backed by Pantera Capital, aims to build a global network enhancing AI-driven android coordination and communication. This investment follows Pi Network’s earlier $100 million commitment on Pi2Day, though the exact amount invested in OpenMind remains undisclosed.
Some pioneers, like Jatin Gupta, voiced frustration on social media, stating that it should be the project’s responsibility to manage communications and clarify misinformation through official channels, not the community’s. Additionally, the lack of a clear marketing or communication strategy is causing further worry.
Data from Santiment shows Pi Network’s social dominance—a measure of its share in crypto discussions—has risen from a weekly low of 0.18% to 0.23%. Yet, overall sentiment remains negative, dropping from -0.28 to -0.441 over recent days.
Technically, PI is trading near its 50-period EMA at $0.3699 on the 4-hour chart, having consolidated above $0.3334. This formed the Adam and Eve pattern in early July, which led to a short rally. If PI fails to break above $0.3700, it could retest the support level at $0.3334.
