The price of Pi Coin continues to remain low, resulting in significant losses for long-term investors. This article examines the current state, the influence of the expected upgrade, and conducts a technical analysis.
Current Price and Dynamics of Pi Network
As of August 6, the price of Pi Coin stands at $0.3410, slightly above this month's low of $0.3236. The market continues to experience a downtrend that began from a peak of $3 in February, as the token supply increased and demand weakened.
Impact of Stellar Protocol 23 Upgrade on Pi Coin
The upcoming Stellar Protocol 23 upgrade, scheduled for September, could serve as a catalyst for Pi Coin. Enhancements such as faster transaction speeds and new features for smart contracts are promised. Given that Pi Network is built on Stellar Consensus Protocol, migrating to version 23 could improve compatibility within the ecosystem.
Technical Analysis of Pi Network Price
Technical analysis indicates that Pi Network price has dropped significantly over the past six months. The current price is below key support levels and all major moving averages. This situation suggests a high probability of further declines, potentially pushing the token below the $0.300 level.
The situation with Pi Network price raises concerns among investors, and while the expected Stellar Protocol 23 upgrade may bring certain improvements, it is unlikely to lead to immediate price growth. It’s important to monitor potential opportunities that could arise from listings on major exchanges.
