Pi Network's Tech Push Fails to Spark Investor Confidence

Pi Network's adoption of the Stellar 23 protocol marks a significant step in its evolution, aimed at enhancing network stability, scalability, and cross-chain compatibility. Announced in late August 2025, the v23.01 protocol upgrade is built on Stellar-Core v23.0.1 and introduces features such as biometric logins and enhanced two-factor authentication to improve security. The update is being rolled out in phases, starting with Testnet1, then moving to Testnet2, and eventually transitioning to the Mainnet in early September [1]. Despite these technical advancements, the PI token price has shown little reaction, hovering near $0.35, close to historical lows [2].

The upgrade includes a commitment to open-source transparency, with the code set to be revealed in September. This transparency is expected to bolster credibility among developers and institutional investors. However, the market's response has been muted, with the PI token price remaining below its 20-day exponential moving average of $0.36, a key technical resistance level [1]. The Chaikin Money Flow indicator, currently at -0.11, further underscores bearish sentiment, indicating more outflows than inflows [1].

In parallel, Pi Network faces a significant liquidity test as approximately 159.5 million PI tokens are set to unlock in September 2025 as part of a broader distribution plan extending through 2028. The Pi Core Team has structured these unlocks on a daily basis to mitigate potential price shocks, yet analysts warn that increased supply could exert downward pressure on the token's value in the short term [2]. Within the community, this liquidity event is viewed as a “new era launch,” with some believing it will support Pi's transition into a fully open mainnet economy [2].

From a bullish perspective, the v23.01 upgrade and ongoing Mainnet progress could provide the narrative needed for a price rebound. Traders speculate that if buying pressure returns, Pi could test the $0.42–$0.45 resistance zone. A breakout above this range might open the door for a move toward $0.50 or higher in the short term. However, skeptics caution that the token remains at risk of breaking below the $0.33–$0.34 support level, potentially exposing it to a retest of the $0.30 region or even fresh lows [2].

The broader crypto landscape also influences Pi's market position. While Pi continues to focus on technological improvements, competing projects such as Remittix (RTX) have gained traction for their utility-driven approach, particularly in the PayFi space. This shift in investor interest toward projects with clear real-world applications highlights the challenges Pi Network faces in converting its technical advancements into tangible market value [3].

For millions of early adopters, known as Pioneers, the coming weeks are critical. The v23.01 upgrade demonstrates Pi’s ongoing commitment to building a robust technological foundation, while the gradual token unlock schedule supports a measured transition toward market maturity. Whether these developments will be enough to drive real-world adoption and stabilize the PI token remains to be seen [2].

Source:

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

[2] Pi Network 2025 Update: Huge Mainnet News, Price ... (https://coindoo.com/pi-network-2025-update-huge-mainnet-news-price-rumors-what-every-pioneer-must-know/)

[3] Dogecoin News: Pi Coin Price Prediction As Remittix ... (https://crypto-economy.com/dogecoin-news-pi-coin-price-prediction-as-remittix-dominates-the-top-crypto-to-buy-now-charts/)