PI 幣：價格低——是時候準備還是恐慌？

Pi Network的PI幣面臨價格壓力。這是為未來做準備的機會，還是更深層次問題的跡象？讓我們深入分析和展望。

The PI coin community is buzzing, and not necessarily with excitement. With the price hovering near record lows, the question on everyone's mind is: should you prepare for further dips, or is there a potential upside? Let's break down the current situation.

PI 幣社區熱鬧非凡，但並不一定令人興奮。隨著價格徘徊在歷史低點附近，每個人都在思考的問題是：您是否應該為進一步下跌做好準備，或者是否有潛在的上漲空間？我們來分解一下目前的情況。

PI Coin's Price Woes: A Deep Dive

PI 幣的價格困境：深入探討

Recently, PI has struggled to maintain its price, even falling below critical support levels. As of late 2025, it's hovering around $0.23, dangerously close to its all-time low. The lack of major updates from the Pi Network team isn't helping investor confidence. Couple that with thinning liquidity, and you've got a recipe for anxiety.

最近，PI 一直難以維持其價格，甚至跌破了關鍵支撐位。截至 2025 年底，其價格徘徊在 0.23 美元左右，危險地接近歷史低點。 Pi Network 團隊缺乏重大更新並不能增強投資者的信心。再加上流動性減少，你就會產生焦慮。

Why the Price Slump?

價格為何暴跌？

Several factors contribute to the current situation. The slow rollout of the mainnet and limited on-chain activity have dampened enthusiasm. Token unlocks are adding more PI to the market, but demand hasn't kept pace, putting downward pressure on the price. It's a classic supply-demand imbalance.

有幾個因素導致了目前的情況。主網的緩慢推出和有限的鏈上活動削弱了熱情。代幣解鎖為市場增加了更多的 PI，但需求卻沒有跟上，給價格帶來下行壓力。這是典型的供需失衡。

Hope on the Horizon? The Protocol 23 Upgrade

希望就在眼前？協議23升級

Despite the gloom, some analysts and community members remain optimistic. A key source of hope is the upcoming Protocol 23 upgrade, expected in late Q4 2025 or early Q1 2026. This upgrade aims to improve network efficiency, attract developers, and onboard new users – all potential catalysts for price appreciation. If PI Coin can break past $0.25, it could trigger a short-term rally.

儘管前景黯淡，一些分析師和社區成員仍然保持樂觀。一個關鍵的希望來源是即將到來的 Protocol 23 升級，預計將於 2025 年第四季度末或 2026 年第一季度初進行。此次升級旨在提高網絡效率、吸引開發者和新用戶——所有這些都是價格上漲的潛在催化劑。如果PI Coin能夠突破0.25美元，可能會引發短期反彈。

Downside Risks: Brace for Potential New Lows

下行風險：為潛在新低做好準備

However, the risks are real. If PI Coin fails to break above $0.25, it could slide further, potentially reaching new lows around $0.22 or even lower. Upcoming token unlocks pose another threat. If too many tokens flood the market without sufficient demand, the price could plummet, especially given the current low liquidity.

然而，風險是真實存在的。如果 PI Coin 未能突破 0.25 美元，它可能會進一步下滑，可能觸及 0.22 美元左右甚至更低的新低。即將到來的代幣解鎖帶來了另一個威脅。如果太多代幣湧入市場而需求不足，價格可能會暴跌，特別是考慮到當前流動性較低。

The Analyst's Take

分析師的看法

The near-term price projection is uncertain. A break above $0.25 could trigger a rally towards $0.28-$0.30. Failure to surpass this level could lead to further declines. The long-term outlook hinges on the success of network upgrades, developer transparency, and effective token supply management. Right now, PI coin's future is very speculative, with both potential rewards and risks.

近期價格預測尚不確定。突破 0.25 美元可能會引發反彈至 0.28-0.30 美元。如果未能突破這一水平，可能會導致進一步下跌。長期前景取決於網絡升級的成功、開發者透明度和有效的代幣供應管理。目前，PI幣的未來充滿了投機性，既有潛在的回報，也有風險。

My Two Cents: Prepare, But Don't Panic

我的兩分錢：做好準備，但不要驚慌

While the current situation is concerning, it's not necessarily a reason to panic. I think it's wise to prepare for potential further price declines. Set stop-loss orders, manage your risk, and don't invest more than you can afford to lose. However, also keep an eye on the Protocol 23 upgrade and any positive developments within the Pi Network. If the upgrade delivers on its promises, PI Coin could see a significant rebound.

雖然目前的情況令人擔憂，但這並不一定是恐慌的理由。我認為為潛在的進一步價格下跌做好準備是明智的。設置止損單，管理風險，並且投資不要超過您可以承受的損失。然而，還要關注 Protocol 23 升級以及 Pi 網絡內的任何積極發展。如果升級兌現其承諾，PI Coin 可能會出現大幅反彈。

Remember, the market can be unpredictable, and it's not financial advice to invest. I think the key to investment is rational analysis and risk tolerance.

請記住，市場可能是不可預測的，這不是投資的財務建議。我認為投資的關鍵是理性分析和風險承受能力。

Final Thoughts: A Waiting Game

最後的想法：一場等待的遊戲

Pi Coin's future remains uncertain. Until significant upgrades materialize and confidence returns, PI remains a speculative asset. Investors should monitor network news and market signals closely. For now, it's a waiting game, with PI Coin stuck in a tight range, awaiting a catalyst to either soar or sink. So, buckle up, stay informed, and maybe grab some popcorn – it's going to be an interesting ride!

Pi 幣的未來仍然不確定。在重大升級實現和信心恢復之前，PI 仍然是一種投機資產。投資者應密切關注網絡新聞和市場信號。目前，這是一場等待遊戲，PI Coin 陷入窄幅區間，等待上漲或下跌的催化劑。所以，係好安全帶，隨時了解情況，也許還可以吃點爆米花——這將是一次有趣的旅程！