Despite a significant decline in the value of Pi Network’s native token, PI, the project team is steadfast in their pursuit of innovations aimed at enhancing the ecosystem. Recently, they announced substantial updates on the “Pi App Studio” platform. These updates are designed to make app development more accessible and customizable, while also incorporating AI-powered features to boost community engagement.
New Improvements Catch Attention
According to the team’s statements, Pi App Studio stands out as an AI-supported platform where users can develop decentralized applications (dApps) without any programming knowledge. Launched on June 28th, known as “Pi2Day” by the Pi community, this platform aims to broaden the scope for developers within the ecosystem.
Additionally, the “Pi Hackathon 2025” event, which began on August 21st, strives to maintain the ecosystem’s vibrancy. This event encourages developers to create real-world applications that expand the use cases of the PI token. With a prize pool of 160,000 PI distributed among the top eight teams, the event supports and fosters innovation within the community. Although the event was slated to conclude on October 15th, an official announcement regarding the results has yet to be made.
Steep Decline in PI Price
Despite these positive developments, the PI token has experienced a sharp decline in recent months. Currently trading around $0.20, the token has lost 43% in the last month and 93% from its February peak. This significant downturn is attributed to waning investor interest and the impending release of locked tokens, creating selling pressure.
In the coming month, approximately 120 million PI tokens are expected to circulate. Although this amount is lower than previous periods, it has the potential to increase supply pressure in the market.
Despite this scenario, analysts observe signs of recovery within Pi Network. In the last 24 hours, 2.6 million PI were transferred from central exchanges to personal wallets, reducing the total amount of PI on exchanges to 411 million. This shift indicates a possible easing of short-term selling pressure.
Another encouraging indicator is the Relative Strength Index (RSI), a common tool in technical analysis. With the RSI currently at a level of 26, it suggests that the token is in the oversold territory, indicating a potential price correction.
Pi Network’s commitment to continuous development reflects their desire to maintain viability in the long term. However, rebuilding investor confidence is crucial for stabilizing prices in the short term. While the RSI data hints at potential buy-back reactions, close monitoring of the impact of new circulating tokens is essential.
