Jakarta, Pintu News – After months of decline, Pi Coin is now struggling to stay afloat in the market. Its price is currently hovering around $0.2368, with daily trading volumes falling below $30 million.
Once hailed as a revolutionary community-driven project with a market capitalization of over $17 billion, the coin has now lost almost 90% of its value.
Now, all eyes are on the upcoming Protocol 23 update – many believe that this upgrade could be the trigger for a renaissance for Pi Coin to improve its position in the market.
On October 10, 2025, the price of Pi Network was recorded at $0.2313, a decrease of 2.2% in 24 hours. If converted to the current rupiah ($1 = IDR 16,559), then 1 Pi Network is IDR 3,830.
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In the 24-hour period, the price moved in the range of $0.2237 to $0.235, indicating moderate daily volatility. The market cap stood at around $1.89 billion, while the last 24-hour trading volume stood at $41.88 million, indicating a fairly active market activity despite a minor price correction.
Pi Network’s price drop was mainly due to weak demand and minimal on-chain activity. Community members on platform X (Twitter) began to show increasing frustration, accusing the development team of moving too slowly, being too centralized, and failing to deliver on previous promises.
One supporter even stated it directly:
I have been warning the whole $Pi Network community about this, months ago.
While probably 80% of the community thinks that $Pi deserves a big price just because " it's Pi, it got hyped, it has a big community, a Stanford professor started it " … a few individuals have seen… pic.twitter.com/fuVkjdiHBY
“Demand is very low, and the use ofEthereum Launches Privacy Cluster to Strengthen User Privacy at Layer-1!the use of Pi in the on-chain network is also poor.”
Bearish sentiment is now growing stronger, with some traders warning that the price of Pi could fall to $0.10 if there is no decisive action in the near future. Low liquidity and a lack of transparency from the development team have also exacerbated the pressure, leaving investors anxiously awaiting signs of a project revival.
The upcoming Protocol 23 update is expected to be an important turning point for the Pi Network ecosystem. Currently still in the testing phase, this upgrade is scheduled to launch on the mainnet in late fourth quarter 2025 or early first quarter 2026.
According to Dr. Altcoin, a Pi community expert, this update will adopt Stellar Core v23.0.1 and is focused on improving the scalability, efficiency, and security of the network.
Question Asked: How far is Pi Network’s blockchain upgrade to Protocol Version 23 (Smart Contracts)?
My Answer: Currently, the Testnet is running under Protocol 23 and undergoing active testing. Once this phase is completed successfully with minimal or no errors (you can observe… pic.twitter.com/vjEX411pgo
Dr. Altcoin asserts: “The Pi Core team is taking a slow but steady pace, prioritizing rigor and reliability over mere speed of execution.”
In addition to technical improvements, this update will also introduce DeFi (Decentralized Finance) features such as Decentralized Exchange (DEX) and Automated Market Maker (AMM). Through these features, users can exchange tokens, create liquidity pools, and test DeFi functions in a secure testnet environment before the official launch on the mainnet.
Despite optimism regarding technical updates, experts like Dr. Altcoin warn that technological improvements alone will not be enough to overcome Pi’s liquidity crisis.
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He encouraged Pi’s core team to consider measures such as buybacks or coin burns to strengthen tokenomics and restore investor confidence.
Without such concrete actions, Dr. Altcoin asserts: “A network price recovery may remain elusive.”
Even so, there are still some indicators that give hope. The next token unlock is expected to release less than 120 million Pi, which could help reduce selling pressure in the market.
In addition, around 2.5 million Pi tokens were recently moved from exchanges to private wallets, signaling that some holders are starting to prepare for long-term investments.
On the technical side, Pi’s Relative Strength Index (RSI) dropped to 24, signaling oversold conditions and opening up opportunities for a short-term rebound. If the Protocol 23 update manages to meet the community’s expectations, Pi Coin could finally gain momentum to break out of its long downtrend.
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