Pi Network Update: Can Upcoming Upgrades Reverse a 94% Decline?
Pi Network is facing renewed scrutiny as its token hovers near historic lows, but co-founder Dr. Chengdiao Fan says the project was never designed to chase market hype.
Key Takeaways
- PI is down about 95% from its 2025 peak and trading near all-time lows around $0.15–$0.16.
- Dr. Chengdiao Fan says the project prioritizes long-term utility and full KYC verification over short-term price action.
- Upcoming catalysts include the Pi DEX upgrade and Protocol v23, but token unlocks continue to pressure the market.
Speaking during the Open Network’s first anniversary events in late February 2026, Fan defended the long development timeline and the team’s deliberate focus on identity verification and real-world integration rather than short-term price performance.
A Different Path, By Design
Fan described Pi’s strategy as “nonconformist,” arguing that the network intentionally avoided traditional crypto fundraising mechanics such as an ICO. Mining has remained free in order to maximize accessibility, and the project continues to emphasize what it calls a fully KYC-verified mainnet.
According to Fan, that structure is not a marketing angle but a prerequisite for real utility. She questioned the sustainability of tokens driven primarily by speculation, stressing that long-term value depends on linking blockchain assets to real products and economic activity. In her view, integrating real-world assets and verified users is harder, but ultimately more durable.
Her comments come at a sensitive time for Pi Network, as community frustration grows over price performance and token unlock dynamics.
Price Collapse Since Launch
The numbers tell a stark story. After reaching a post–Open Network high near $2.98 in February 2025, PI has fallen roughly 94–95%, now trading around $0.15–$0.16. In February 2026 alone, the token dropped more than 20%, as the one-year anniversary failed to generate the anticipated retail momentum.
At current levels, PI is hovering near its all-time low zone. The prolonged downtrend has weighed heavily on sentiment, especially among early supporters who expected faster ecosystem expansion and clearer performance benchmarks for 2026.
Roadmap: DEX, Protocol Upgrades, and Biometric Security
Despite the decline, the Core Team has outlined several milestones for the first half of the year.
A major Pi DEX upgrade is scheduled for March 12, 2026, aimed at improving liquidity and positioning PI as the base asset of the ecosystem. Meanwhile, Protocol v23 – integrating Stellar Core v23 – is in testing, with a Q1 2026 target to enhance scalability and smart contract functionality.
On the security front, the network has launched a beta version of Palm Print Authentication to strengthen identity verification and reduce fraud risks.
User growth remains one of Pi’s strongest metrics. More than 16.2 million pioneers have migrated to mainnet, and over 17.7 million users are fully KYC-verified. However, ongoing token unlocks continue to create selling pressure, limiting upside momentum.
Technical Analysis: Stabilization or Breakdown?
On the daily chart, PI remains locked in a long-term downtrend structure. Price is consolidating around the $0.15–$0.16 range, which now acts as immediate support. A sustained break below $0.15 could open the door to fresh all-time lows.
Momentum indicators show mixed signals. The RSI (14) is hovering around the mid-40s to 50 area, suggesting neutral conditions after previous oversold readings. This reflects a temporary stabilization rather than a confirmed reversal.
The MACD on the daily timeframe is flat and close to the zero line, indicating weak momentum in either direction. There is no clear bullish crossover with strong histogram expansion, meaning buyers have yet to regain control.
For any meaningful recovery, bulls would need to reclaim the $0.20–$0.25 zone with increasing volume. Until then, PI remains structurally fragile, with consolidation near historical lows defining the current phase.
The coming DEX activation and protocol upgrades could act as catalysts – but for now, the chart shows a market still searching for a floor.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
