Pi Network's native token PI has plunged to an all-time low of $0.335, continuing a six-month downtrend that erased billions in market value. Despite this decline, experts like Dr. Altcoin maintain long-term optimism, citing potential technical upgrades linked to Stellar's ecosystem. The upcoming Stellar Protocol 23 upgrade—scheduled for a September 3 mainnet vote—could enable Pi Network to skip intermediate versions (20-22) and directly implement Protocol 23, featuring Soroban smart contracts, full Web3 integration, and cross-chain capabilities.
Dr. Altcoin emphasized that Pi Core Team's $100 million ecosystem fund and technical expertise make such a leap feasible, though rigorous testing is required for stability. Concurrently, the delay of the .pi domain auction from June to September appears strategic, allowing Pi to launch on Stellar's upgraded infrastructure for enhanced scalability. Technically, PI shows oversold signals with a 36 RSI, potentially enabling recovery, while reduced token unlocks from September may ease selling pressure. However, PI remains below all key moving averages in a descending channel, risking further drops below $0.30 without major catalysts like a tier-1 exchange listing.