Pi Coin's 90% Plummet: Can DeFi Gaming and Upgrades Spark a Comeback?

Pi Coin has experienced a dramatic 90% drop in value from its peak this year, currently trading at $0.3673, its lowest level on record [1]. This decline has wiped out billions of dollars in market value and has been attributed to ongoing token unlocks and limited demand. The upcoming release of $60 million worth of tokens is expected to further increase supply pressure on the market [1]. Despite these challenges, several potential catalysts could impact the price trajectory of Pi Coin, including a major network upgrade to Stellar Network protocol version 23, which enhances smart contract flexibility and scalability [1]. While this upgrade is a significant step forward for the network, it has yet to generate a meaningful response from the market, with the token price remaining below the 20-day exponential moving average at $0.36 [3].

Another potential driver of price movement could be the listing of Pi Coin on major exchanges such as Binance, Upbit, and Coinbase, which have historically boosted the value of newly listed tokens [1]. Additionally, the introduction of a token burn mechanism and the possibility of a Pi Network ETF application could also provide a significant boost. Earlier this week, Valour Capital launched a Pi Fund in Sweden, signaling growing institutional interest [1]. However, any forecasts or predictions regarding future price movements should be viewed with caution, as they are based on analyst expectations and are not guaranteed outcomes.

The recent launch of PiOnline, a DeFi-based gaming platform, has added new utility to the Pi Network and could help increase engagement and demand for the token [2]. The game features a dual-token system with PIOL for governance and SEED as the in-game currency, offering staking rewards of up to 12.8% annually [2]. The platform’s integration with the Pi Browser and its focus on play-to-earn mechanics aim to attract a broader user base and create additional use cases for the Pi token. If the network can successfully drive adoption through gaming, it could provide a foundation for further price recovery.

From a technical perspective, Pi Coin has formed a falling wedge pattern, a common bullish reversal indicator, with a retest of the $0.34 level confirming its significance [2]. The Money Flow Index (MFI) currently stands at 41, suggesting moderate inflows with potential for growth if buyer activity increases [2]. If the token can break above the $0.41–$0.50 resistance range, it could signal the beginning of a more substantial upward trend. However, a drop below $0.27 would pose a significant risk of another decline toward $0.15 [2]. The current market conditions reflect a mix of cautious optimism and underlying bearish pressure, with the Chaikin Money Flow at -0.11 indicating more outflows than inflows [3].

Despite the recent adoption of Stellar Protocol 23, which aims to improve cross-chain compatibility and network scalability, the Pi Network has yet to see a corresponding boost in investor sentiment or price appreciation [3]. The update is being rolled out in three stages—Testnet 1, Testnet 2, and Mainnet—with the full transition to version 23 expected in the coming weeks [3]. However, limited communication around the migration schedule and the absence of a strong narrative catalyst have contributed to market indifference [3]. The long-term success of the Pi Network will depend on its ability to convert technological advancements into tangible value for its users and investors.

Source:

[1] Pi Network Price Prediction for September Amid $60 Million Unlocks (https://www.banklesstimes.com/articles/2025/09/01/pi-network-price-prediction-for-september-amid-60-million-unlocks/)

[2] Pi Coin Price Prediction: Can DeFi Gaming Expansion Push Pi Toward $1? (https://coingape.com/markets/pi-coin-price-prediction-can-defi-gaming-expansion-push-pi-toward-1/)

[3] Pi Network Adopts Stellar 23 With Little Market Impact (https://www.cointribune.com/en/pi-network-adopts-stellar-23-with-little-market-impact/)