Pi Network is forging ahead with innovative updates despite the declining value of its native token, PI. Key developments have been unveiled on the “Pi App Studio” platform, which aim to simplify app development and include AI features to increase community interaction.
What’s New in the Pi App Studio?
The Pi App Studio is emerging as a unique, AI-driven platform enabling users to create decentralized applications without needing programming skills. Officially launched on “Pi2Day,” June 28th, this tool seeks to expand the opportunities available to developers within the Pi ecosystem.
Moreover, the ongoing “Pi Hackathon 2025,” which kicked off on August 21st, aims to maintain the ecosystem’s dynamism. This event motivates developers to generate real-world applications that enhance PI token use cases. With a prize pool of 160,000 PI for the top eight teams, it serves as a catalyst for community-driven innovation. However, the results of the hackathon, supposed to conclude on October 15th, have not yet been revealed.
Why Is PI Price Falling?
Despite these advancements, PI token has witnessed a steep drop in recent times. The token currently stands at approximately $0.20, marking a 43% decrease in the past month and a massive 93% fall from its February high. This drop results from diminished investor interest and the upcoming release of locked tokens, leading to increased selling pressure.
Looking forward, around 120 million PI tokens will enter circulation in the coming month, posing a potential supply challenge in the market.
Yet, some market observers detect signs of stabilization. Notably, 2.6 million PI tokens were recently moved from central exchanges to private wallets, reducing exchange-held PI to 411 million. This shift suggests a possible alleviation of short-term selling forces.
Additionally, the Relative Strength Index (RSI), a key technical metric, is indicating an oversold state at a value of 26, which could imply an impending price rebound.
Pi Network’s dedication to ongoing progress shows their ambition to remain competitive over the long haul. However, restoring investor trust is essential for stabilizing prices shortly.
“While the RSI signals potential buybacks, it remains crucial to assess the impact of new circulating tokens carefully,” said a spokesperson from Pi Network.
