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The price movement of PI exhibits an Adam and Eve pattern, suggesting a bullish reversal.
OpenMind, a $20 million AI robotics company, receives investment from Pi Network.
The Pi community is concerned about the need for network volunteers to reduce misinformation about the project.
Pi Network (PI) extended its gain of 4.64% from Thursday to about 1% at the time of reporting on Friday, indicating a bullish recovery with an Adam and Eve setup on the 4-hour chart.
After Pi Network's investment in OpenMind, optimism regarding PI has returned. However, the recent circular announcement from Pi Network asking Pioneers, community members, to proactively correct the growing misinformation in public forums without reward has left the community on alert.
The US AI robotics company OpenMind raised $20 million from Pantera Capital. The investment would create a global network to enhance coordination and communication of androids with artificial intelligence.
After the promise of $100 million from Pi2Day on June 28, this is one of Pi Network's investments. Pi Network has not disclosed the amount of the investment.
Pi Network pioneers are alarmed by the latest announcement requesting volunteers to combat "misinformation" in the community. In Friday's Post X, pioneer Jatin Gupta commented: "It is the project's job to hold press conferences and invite media people to provide correct information."
The lack of communication or marketing management also concerned Gupta. Santiment reports that Pi Network's social dominance score (its share of total conversations about cryptocurrencies) increased to 0.23% from 0.18% on Wednesday, a weekly low.
The overall weighted sentiment of Pi Network was negative -0.441 on Thursday, down from -0.28 on Wednesday.
Pi Network rises to the 50-period Exponential Moving Average (EMA) at $0.3699 on the 4-hour chart at the time of reporting on Friday. The same chart showed a short-term consolidation above $0.3334, which created a weekly Adam and Eve pattern in early July and caused a brief rally.
If PI reverses from the upper limit at $0.3700, it may fall to the weekly low of $0.3334.
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