Pi Network’s Major Upgrades Fail to Move the Needle – Why Is PI Price Stagnant?

Pi Network just rolled out its biggest suite of upgrades yet—so why did the market respond with a collective shrug?

Behind the hype: A disconnect between development and demand

The mobile mining project delivered everything from wallet enhancements to new KYC protocols. But PI's price chart? Flat as a pancake. Traders appear skeptical about Mainnet progress despite the technical fireworks.

Liquidity limbo keeps institutional players at bay

Without major exchange listings, PI remains trapped in a speculative gray zone. Retail enthusiasm isn't enough to overcome the cold hard logic of order books—another case of 'build it and they might come... eventually.'

The crypto crowd's getting impatient

Two years since open Mainnet promises, and PI still trades like a speculative IOU. For a project with 35M+ users, the market's verdict is brutal: show me the liquidity, then we'll talk price action.

Finance jab: At this rate, Pi's 'value' makes fiat inflation look like a bull market.

Pi2Day brings big updates

Pi Network launched the Pi App Studio, a no-code development tool powered by AI that allows users to create apps using natural language instead of code.

It includes a chatbot builder and a beta feature that translates user instructions into working app logic.

Alongside it, the network launched Ecosystem Directory Staking. This model lets users stake their PI on listed apps to boost visibility, eliminating reliance on traditional ad-based promotion.

More Pi staked means better discoverability, making token utility central to app rankings.

On paper, these tools were designed to drive user engagement and shift app discovery power to the community.

Muted buzz despite momentum

Speculation around the event spiked just before Pi2Day, with Open Interest climbing on derivatives platforms. However, this momentum was short-lived.

Source: Messari

Data from Messari showed a near-immediate tapering after the update rollout, suggesting traders exited once the news broke.

Source: Santiment

This behavior often reflects “buy the rumor, sell the news” strategies, not long-term bullish conviction.

While Pi Network’s announcements made waves internally, Social Volume from Santiment stayed patchy. There were no consistent spikes indicating sustained interest.

Source: CoinMarketCap

Meanwhile, the CoinMarketCap’s Altcoin Season Index was at just 21 at press time; proof that investor preference still leans heavily toward Bitcoin. This makes it even tougher for tokens like Pi to gain traction, regardless of innovation.

“Smoke and mirrors”? Users raise the red flag

Many users on X have also voiced skepticism, pointing to unresolved concerns like unverified balances and incomplete mainnet migrations.

As one user put it,

“We’ll have to wait at least two weeks to see if these are useful and fruitful or not.”

Another warned,

“If Pi Network doesn’t fully migrate user balances and reward early miners, its legitimacy will continue to erode… until then it’s all smoke and mirrors.”

The lack of clarity around user holdings is a key sticking point:

“This is the real problem that is causing doubts… pioneers want to know the exact amount of Pi they own.”

Until these foundational issues are addressed, Pi’s innovative upgrades may struggle to gain substantial traction.

Has the hype reached PI price yet?

Despite the headline-grabbing ecosystem upgrades, the Pi token’s price movement has remained largely subdued.

At press time, the token traded around $0.5351. This is only a modest uptick, one that lacks the strength typically seen during major network developments.

Source: TradingView

The RSI was at 48.20 on the hourly chart, hovering close to the neutral 50 mark. This shows a lack of strong bullish or bearish pressure.

Market participants are still undecided or waiting on further catalysts before making moves.

Meanwhile, the OBV remained in negative territory at -202.95 million, indicating that buying volume has not significantly outweighed selling pressure.

There was a momentary spike in trading volume on the 29th of June, but it failed to spark a sustainable rally.