Right. But when I include some library which corrupts memory into Pike build or make changes to Pike sourcecode itself, then it is possible to crash Pike and then trapping SIGSEGV can bring in additional information about probable place where the memory corruption occurred. Is my understanding correct?
Not really. You won't be able to get any especially useful information about the low-level stuff from Pike code, and there's no telling what broke where, so you won't even know if the Pike core is still working or if it was somehow corrupted by memory overwrites or something. Getting a core file and inspecting it afterwards with GDB will probably be more useful.