Pi Network price stalls despite pivot to AI and directory staking
2025-06-29 19:49:41
Main Idea
The Pi Network price declined significantly despite announcements on Pi Day 2, with key challenges like token unlocks and centralization remaining unresolved.
Key Points
1. Pi Coin dropped to $0.532, down 20% from last week's high and 68% from its May peak, reducing its market cap to around $4 billion.
2. Pi Network developers announced the launch of the Pi App Studio platform, highlighting features like KYC, a 60M+ user community, Pi Ad Network, .pi Domains, and Pi Wallet.
3. Other Pi Day 2 updates included on-ramp services for pioneers and Node Version 0.5.2, which improved security and introduced Pi Desktop.
4. The price drop may be attributed to unresolved challenges such as token unlocks and centralization.
5. Technical analysis suggests a potential rebound, with a double-bottom pattern forming at $0.3976 and a neckline at $1.6695.
Description
The Pi Network price remained under pressure over the weekend, despite management’s notable announcements on Pi Day 2. Pi Coin ( PI ) dropped to $0.532, down by 20% from its highest point last week and 68% from its May high. This retreat has brought its market capitalization to about $4 billion. In an announcement on Pi Day, the developers announced the launch of an artificial intelligence initiative. The developers noted that their hope is that developers will embrace its Pi App Studio platform...
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