Pi Network's native token, PI, has been in a sharp decline, with its price currently hovering around $0.20, marking a 43% monthly drop and a 93% crash from its all-time high in February 2025. This downturn is partly attributed to waning community enthusiasm and impending token unlocks, with nearly 120 million PI set to be released in the next month, potentially increasing selling pressure.
However, the project remains active with significant ecosystem developments. The Pi App Studio received major updates, including improved accessibility and customization features. AI-powered tools now enable automatic generation of logos and welcome messages, and the studio has been moved to the main navigation bar in Pi Desktop for easier access. Additionally, the Pi Hackathon 2025, which started on August 21 and was scheduled to end on October 15, offers a prize pool of 160,000 PI coins to incentivize developers to build real-world applications, though details on its conclusion are still pending.
On a positive note, data shows reduced immediate selling pressure, as over 2.6 million PI were transferred from exchanges to self-custody in the past 24 hours, lowering exchange holdings to 411 million. Technically, the Relative Strength Index (RSI) stands at 26, indicating potential oversold conditions that could signal a price rebound. Analyst Dr. Altcoin highlighted the low cost of app creation—under 2 PI coins—and noted that over 24,000 applications have been launched, demonstrating strong adoption despite price volatility.
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