Pi Network Faces Sharp Decline Amid Anticipated Protocol 23 Upgrade
Pi Network’s native token, PI, has plunged to a new all‑time low of $0.22 following a series of bearish developments. The price slide has been accompanied by mounting concern among traders, who are watching closely as the network prepares for the highly anticipated Protocol v23 upgrade and a mainnet launch slated for late 2025.
Current Market Snapshot
- Close Price (2025‑10‑09): $0.200 USD
- 52‑Week High (2025‑02‑25): $2.98 USD
- 52‑Week Low (2025‑10‑09): $0.158 USD
- Market Cap: $1.66 billion USD
The recent dip to $0.22 represents a substantial contraction from the token’s historical peak, underscoring heightened volatility in the market.
Key News Highlights
| Date | Source | Summary |
|---|---|---|
| 2025‑10‑10 12:56 | cryptopotato.com | PI’s valuation has dropped to an all‑time low of $0.22. |
| 2025‑10‑10 18:30 | cryptopanic.com | PI’s price has been trapped in a steady downtrend, slipping another 3.3% in the past 24 hours and hovering near $0.22, raising caution among traders. |
| 2025‑10‑10 10:09 | blocknews.com | The network is approaching a significant milestone with Protocol v23, with a mainnet launch expected by late 2025. |
| 2025‑10‑09 17:00 | beincrypto.com | The token fell below a critical support level that had held it steady between September 23 and October 6, potentially revisiting the all‑time low of $0.1842. |
| 2025‑10‑09 12:30 | coindoo.com | Insiders report that the latest upgrade has improved scalability and transaction speed, indicating progress toward mainnet expansion. |
| 2025‑10‑09 07:43 | coinpedia.org | After months of decline, Pi Coin is hovering around $0.2368, with daily trading volumes slipping below $30 million. The upgrade to Protocol 23 is seen as a turning point. |
The Protocol v23 Upgrade: What It Means
The Protocol v23 upgrade is expected to bring several key improvements:
- Enhanced Scalability – Early reports suggest a significant increase in transaction throughput, which could attract larger user bases and enterprise adoption.
- Faster Transaction Speeds – Faster confirmation times are anticipated to improve user experience, especially for everyday payments.
- Broader Ecosystem Integration – The upgrade is designed to enable easier integration with existing blockchain services, potentially expanding Pi’s utility beyond a community‑driven token.
Despite these promising developments, the current price trajectory indicates that investors remain cautious. The token’s recent failure to hold above critical support levels suggests that sentiment has shifted, and many market participants are awaiting tangible proof of the upgrade’s benefits before committing capital.
Market Sentiment and Trading Activity
- Daily Volume Decline: Trading volumes have slipped below $30 million, a marked decrease from earlier periods when Pi’s daily volume exceeded $50 million during peak enthusiasm.
- Price Volatility: A 3.3% drop within 24 hours signals heightened volatility, which could deter risk‑averse traders.
- All‑Time Low Threat: Analysts predict that the token could revisit its low of $0.1842 if selling pressure continues unabated.
Outlook
The forthcoming Protocol v23 upgrade presents a potential catalyst for a price rebound, but the near‑term outlook remains bearish. Traders will likely monitor:
- Upgrade Milestones: Proof of mainnet readiness and performance metrics.
- Volume Trends: Whether trading volumes rebound as confidence returns.
- Support Levels: Whether Pi can regain and hold above the critical support threshold that was breached on October 9th.
In the absence of these signals, the token may continue its downward trajectory. However, a successful mainnet launch could realign market perception, potentially unlocking new use cases and revitalizing investor interest.
