Recent Pi Network Developments, Concerning Dogecoin Signals, and More: Bits Recap June 19

A closer look at everything most interesting surrounding Pi Network, Dogecoin, and Cardano.

The controversial crypto project Pi Network remains highly active, with the team announcing major updates and ecosystem improvements.

The OG meme coin Dogecoin (DOGE) has been bleeding heavily lately, and certain factors suggest the sell-off may continue in the near future. Cardano’s ADA isn’t in great shape either, with some expecting further declines ahead.

The Latest PI Updates

At the start of the month, the Core Team announced the successful transition to protocol v24, an upgrade primarily focused on improving the underlying infrastructure that supports node operations and mainnet activity. The v25 upgrade is the next major milestone, with a scheduled completion deadline of June 18. However, the team recently clarified that it might need more time, hinting at a likely delay.

Besides that, Pi Network encouraged Pioneers to help expand the ecosystem by inviting Vibe coders to bring their AI-driven applications into the project’s real distribution network through Pi App Studio. The initiative will run until Pi2Day – the symbolic day for the community, celebrated annually on June 28.

The Core Team also published a fresh update on the state of the Pi Launchpad testing period, which features the new test token, SLICE. The development’s goal is to introduce users to new ecosystem token mechanics and educate the community on how to participate with DeFi mechanisms.

“The updated participation flow is simpler and clearer. Participation is now centered around the commitment amount, which has a direct effect on token acquisition. A Pioneer chooses how much Test-Pi they want to commit, and the Launchpad automatically calculates the related “fair-access hold,” and then shows the commitment amount, hold amount, and total together before confirmation,” the message reads.

Most recently, Pi Network said that its Ecosystem Directory Staking got a “new look and improved user experience.” The team explained that by staking PI coins, Pioneers can collectively support applications and services while developers and creators can promote their products and tap into Pi’s 60M+ engaged community to acquire users.

DOGE in Trouble?

The largest meme coin by market capitalization has suffered from the prolonged bear market, with its price crashing 52% over the past year to $0.08. Moreover, the recent whale behavior suggests that bulls might have to endure more pain in the short term.

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As CryptoPotato reported, 420 million DOGE have been distributed by these market participants in the last seven days, and their total holdings have dropped to nearly 35 billion coins.

This shouldn’t be interpreted as a direct sign of a further collapse, yet it hints that these investors are positioning for one. Their actions are closely watched by retail traders, who could follow and amplify the sell-off.

ADA’s Crisis

Cardano’s native token has tumbled even more than DOGE. Its valuation plunged to roughly $0.16, its market capitalization dropped below $6 billion, and the asset may soon no longer be among the top 20 cryptocurrencies.

The worrying signals from Cardano’s co-founder, Charles Hoskinson, have sparked further panic within the community, while some popular analysts believe conditions may worsen in the near future.

Ali Martinez, for instance, claimed that ADA has been forming a bearish flag since the start of June and is now breaking from the structure. That said, he argued, “the odds have significantly increased for a bigger price correction towards $0.13.”