The price of Pi Network may have reversed from its downward trend and could see a 40% increase with the launch of Pi Coin stablecoin. This price increase is linked to reports of testing Pi Coin stablecoin on the Stellar blockchain, aiming to save Pi Network from the downward pressures that have dropped its price below $1. The development team of Pi Network is working on launching the stablecoin in collaboration with Stellar to facilitate cheap and fast money transfer. Meanwhile, the Pi Network community has identified a smart contract indicating that such collaboration will soon take place. Pi Network has been working on a price stabilization mechanism similar to stablecoins like USDT and USDC, strengthening the use of Pi Coin as a payment tool. Collaborations with Stellar and integration with Telegram signify significant steps towards mass adoption of digital currencies. Despite experiencing significant fluctuations, the current price of Pi Network stands at $0.826 with a daily growth rate of 0.35%. Simultaneously with Bitcoin and the overall crypto market, the Pi Coin market is under downward pressure. Additionally, the non-listing on major exchanges has put significant pressure on Pi Coin. However, the 4-hour price chart indicates the possibility of an upward trend change. In case of a decisive breakout from the downward wedge pattern, the price of Pi Coin could reach $1.19 with a 44% growth. Moreover, strategic partnerships and ecosystem growth could bring the price back to its historical peak of $3.
