The price of the PI network remains in a steep -free fall, the cost of long -lasting investors of billions of dollars.
Summary
- The PI network is hovering near its lowest level on the price record.
- This has ignored all the major announcements from the team.
- The upcoming steller protocol upgrade will have a limited impact on the value.
Pi Coin (Pi) was trading at $ 0.3410 on 6 August today, above the lower $ 0.3236 of this month. A potential catalyst for PI is upgrade upgrade upgrade.
Stellar Protocol 23 PI Upgrade Effects on Coin
The PI network has been in a constant downtrend after pening near $ 3 in February. Daily emissions led to an increase in accidents in tokens, which weakened.
The tokens have promoted large -scale major announcements, which include the launch of PI Network Ventures and PI AI Studio. The PI Network Ventures is a $ 100 million fund that aims to allocate capital for qualified projects in the ecosystem.
Pi AI Studio is a recently launched product that allows users to create and deploy AI applications such as chatbott. Developers aim to post PI as a leading platform for decentralized AI solutions.
A potential catalyst for PI coin is set to go live on 23 September. The upgrade will increase rapid transaction speed, smart contract capacity through soroban and bridging for other blockchain.
This upgrade couch advantage is the PI network, which is built on the staller unanimous protocol and its core infrarture. Dr. According to Altcoin, the PI is currently in version 19, and 23 would prefer to migrate under direction.
PI ecosystem in such a migration will be stranded, especially through improviewed cross-chain compatibility. However, it is unlikely that the staller’s upgrade will trigger the price increase in PI coins alone. A more potential catalyst will be a tier -1 exchange listing.
Pie network price technical analysis
The 12-hour chart suggests that the PI network price has fallen in the last six months and is hovering near it. It is broken below the major support at $ 0.3927, its lowest level in both June and April, invalidates a preview formed double-bottom pattern.
The PI coin is now trading near the lower range of a descending channel and is below all major moving averages. This setup suggests a high probability of the negative side of the future, powerfully pushed the token blue support to $ 0.300.
However, reducing the PI due to the capacity of a tier -1 exchange listing is risky, the couple triggers a small squeeze.
