Major Upgrade, Minor Moves: Pi Network's New AI Tool Cannot Drive PI Price

Pi Network [PI] marked Pi2Day on June 28 with two ecosystem upgrade titles aimed at promoting real utility and community engagement; however, the price response of the Pi token has been rather unfavorable, highlighting users' persistent concerns and the market's weak confidence. The upgrades include Pi App Studio, a no-code AI-powered tool that allows users to create applications simply by describing features in plain language. It also has a chatbot builder and a beta tool that translates user instructions into functional application logic, completely eliminating the need for programming skills. In addition, Pi Network has announced the Ecosystem Directory Staking, a model that allows users to stake their Pi tokens directly on listed applications to increase visibility. This community staking aims to replace paid advertising models, instead rewarding projects that earn the trust and genuine participation of the community. Traders buy the rumor, sell the news Although Pi2Day initially sparked speculative interest, that momentum quickly faded. Derivative data from Messari shows that Open Interest increased just before the event, only to sharply decline after the upgrade was deployed. This reflects the classic scenario of "buy the rumor, sell the news", indicating that short-term traders exited rather than holding long-term positions. The discussions on social media could not sustain the increase. Santiment's data confirms that the Social Volume remains unstable after the announcement, indicating that the upgrades did not generate strong or lasting excitement within the community. Users still have doubts about the unresolved issues. On X, the Pi Network community has voiced concerns about existing trust issues that overshadow new features. Many pointed out that the incomplete mainnet transition and unverified account balances are key sticking points. A user posted, "We will have to wait at least two weeks to see if these are useful and yield results," while another warned, "If the Pi Network does not completely transfer the users' balances and reward early miners, its legitimacy will continue to be eroded... until then, everything is just smoke and mirrors." The lack of clear evidence regarding the amount held remains a major concern, as many users are early demanding more transparency about their actual Pi balances. Technical indicators show weak momentum Despite the ambitious product launches, the price of the Pi token has hardly reacted. At the time of writing, PI is trading around $0.5351, just slightly higher than the pre-event level, with no strong impetus from buyers. The technical data supporting this cautious sentiment shows that the Relative Strength Index (RSI) is near 48.20 on the hourly chart, just below the neutral level of 50, indicating that the market has not yet made a decision. Meanwhile, the On-Balance Volume (OBV) remains negative at -202.95 million, confirming that buying pressure is still not enough to offset selling pressure. Although there was a brief increase in trading volume on June 29, it did not translate into a meaningful price increase for the PI token. Will Pi's roadmap be successful? Currently, the no-code app builder and the community-driven staking model of Pi Network demonstrate the ambition to build a user-controlled ecosystem. However, until the basic issues of balance verification and mainnet migration are resolved, many pioneers remain hesitant to fully commit. If these concerns are not addressed, the technical milestones of the network may struggle to translate into actual price momentum for PI in the coming months.