Pi Network Faces challenges Despite App Studio Upgrade
Pi Network’s price has hit a record low, despite a major App Studio upgrade.The token is trading at $0.2040, down 90% from its peak. This decline makes it one of the crypto market’s worst performers.
The developers recently launched a meaningful App Studio upgrade. This update aims to boost the ecosystem by making app creation easier and more integrated. The studio is now accessible via the Pi desktop app, alongside mining and node features.
The upgrade includes AI-assisted customization, enhancing app development. It also improved revelation and added staking. The goal is to create a robust ecosystem with more utility.
This upgrade follows the testnet launch for decentralized exchanges. However, the price remains under pressure due to core issues. Daily token unlocks add millions to circulation, and low liquidity is a concern. Daily trading volume is below $50 million, and few exchanges list Pi.
The new App Studio features AI tools and staking integration. These changes aim to attract more developers and users.Yet, the price hasn’t responded positively. A falling wedge pattern could lead to a short squeeze.
Despite these efforts, Pi network faces challenges. Daily token unlocks and low liquidity contribute to the price drop. The network’s centralization, with the foundation holding over 90 billion tokens, also raises concerns.
Technical analysis shows Pi Network’s price below all moving averages. Though,the falling wedge pattern may trigger a short squeeze soon. Investors should monitor these developments closely.
