Pi Coin is entering one of the most unusual moments in its history. After years of being discussed, doubted, hyped, and questioned, Pi is suddenly lining up real-world milestones that actually matter.
The biggest shift came with Pi finally landing full MiCA compliance, which means the project is no longer floating in the regulatory shadows; it’s stepping onto regulated European exchanges on November 28 with an official greenlight.
On top of that, Pi rolled out Map of Pi 2.0, turning the project into something people can actually use. More than 140,000 merchants are now plugged in, and millions of users suddenly have a functional payment layer instead of a theoretical one.
And while all this has been happening, the PI Coin price has quietly held the same support level for nearly two weeks straight, trading around $0.2532 and building a slow but steady base.
It feels like Pi is moving into a new phase, not loud, not explosive, but deliberate. And that’s exactly what makes the next part so interesting.
Why the Pi-Based DEX Model Matters
Analyst Mahidhar pointed out something that most people probably skimmed right past: the Pi DEX isn’t built around USDT like every other major decentralized exchange. Instead, the entire system is designed so that its core metrics, things like market cap and TVL, are displayed in PI itself.
This changes the dynamic completely. It forces every part of the ecosystem to rely on PI, not stablecoins. Developers who want to launch tokens must acquire PI. Liquidity pools must be created using PI. Even regular users who want to swap tokens have to buy PI before they do anything else.
You can clearly see in the token creation section that every key metric will be shown in $Pi.
— MAHIDHAR CRYPTO (@Mahidhar_Crypto) November 26, 2025
Market cap shown in $Pi value ,
Total value locked shown in Pi value
This means the core of our Pi DEX runs on $Pi and not USDT value like other DEX platforms.
The logic is simple:… pic.twitter.com/BNJMaKADmZ
That’s a very different model from what we see on Ethereum, BNB Chain, or Solana. Instead of PI being “one of many” assets, it becomes the default starting point, the ticket you need to participate. If that system gains real traction, demand for PI would come from actual usage rather than hype cycles.
What That Could Mean for Pi Coin Price
Right now, Pi is sitting under the $0.26 resistance zone, holding its support and gradually forming a tighter price structure.
If the Pi Coin price breaks above that $0.26 level, a move toward $0.29 becomes the first logical step. But the real conversation isn’t about near-term resistance – it’s about how Pi’s value reacts if its DEX truly forces PI to become the base currency for everything happening within the ecosystem.
If builders start deploying on Pi, they’ll need PI. If liquidity grows, PI gets absorbed. If Map of Pi 2.0 sees actual usage, PI becomes the settlement asset behind those transactions. And once trading begins on regulated European exchanges, new liquidity mixes with ecosystem demand.
The result is simple: a supply-and-demand loop that doesn’t need hype to function. Tokens with mandatory utility tend to behave differently because their price becomes tied to activity rather than sentiment. If Pi’s DEX model succeeds, that’s exactly the direction PI could move in.
Finally, the Pi Coin price is stepping into a defining moment. Regulatory approval is now real, merchant adoption finally has substance, and the DEX design gives PI a role that most tokens never achieve – becoming the center of its own economy.
If Pi truly becomes the base currency of its ecosystem, the long-term price won’t be shaped by excitement online or speculation on social feeds. It will follow usage, liquidity growth, and how strongly the network embraces this PI-first model.
Whether that leads to a slow climb or a major breakout depends on what happens next, but for the first time, Pi Coin value is being tied to something concrete.