Pi Network (PI) has experienced a dramatic drop to a price of $0.20. Despite this setback, the project is actively rolling out significant updates and initiatives, which are worth noting.

Recent Updates

As reported by CryptoPotato, the team behind Pi Network has introduced new features in the Pi App Studio aimed at simplifying the creation of applications within their ecosystem. These enhancements enhance user experience with added AI capabilities.

The Pi App Studio is an AI-driven platform that allows users to create decentralized applications (dApps) without programming knowledge, officially launched on June 28, known in the community as Pi2Day.

Another exciting initiative is the Pi Hackathon 2025, encouraging developers to build real-world applications to elevate the utility of the PI token. The prize pool for participants totals 160,000 coins, distributed to the first eight successful teams. The hackathon commenced on August 21 and was initially scheduled to conclude on October 15, but no updates have been provided regarding its wrap-up.

Price Drop

Despite the promising developments, PI’s price continues to decline sharply, down 43% over the past month and 93% from its all-time high in February. Diminished enthusiasm in the community and upcoming unlocks for tokens suggest that further price drops may occur as approximately 120 million PI tokens will enter circulation in the next month.

Encouraging Signs

Nonetheless, there are indicators suggesting a potential price recovery for PI. The amount of tokens held on exchanges has decreased to 411 million following the transfer of over 2.6 million PI to personal wallets recently, which could alleviate selling pressure.

Additionally, the PI’s Relative Strength Index (RSI) is recorded at 26, a sign traders often look for as a buying opportunity.

PI Token Unlocks PI Token Unlocks, Source: piscan.io

PI RSI PI RSI, Source: TradingView

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