"Breaking $0.25 is a matter of time"...Whales 'accumulate' Pi Coin with upgrades

▲ Pi Network (PI)/ChatGPT generated image

According to CoinGape, a specialized virtual asset media outlet, on April 27 (local time), the Pi Network (PI) core team instructed all mainnet node operators to complete the Protocol 22 upgrade. This upgrade is an essential step to maintain network connectivity. Nodes that fail to update within the deadline will be forcibly disconnected from the network. This measure is part of a strong clean-up operation to ensure the stability and synchronization of the ecosystem.

Protocol 22 introduced a dual-interface setup that allows simultaneous use of node screens and desktop applications. Node operators can check balances and manage network functions more efficiently via their computers. This upgrade goes beyond simple feature enhancements and is a prerequisite for Protocol 23, scheduled for the 18th of next month. Protocol 23 is expected to introduce full-fledged smart contract functionality to the Pi Network ecosystem.

Market data is reacting sensitively to this upgrade. Pi Coin's 24-hour trading volume surged by 62%, reflecting high investor interest. On-chain analysis revealed that outflows exceeded inflows by 800,000 PI. This suggests that large-scale investors are moving assets to personal wallets for long-term holding rather than selling them. The current price is fluctuating around $0.35, attempting to break the $0.25 resistance level.

Experts warn that short-term profit-taking may occur immediately after this upgrade. However, the Consensus 2026 event, to be held in Miami on May 6, is expected to be a strong upward catalyst. Pi Network co-founder Nicolas Kokkalis plans to emphasize practical utility at this event. Kokkalis stated that tokens "should function as tools within real applications, not just financial instruments." These external initiatives are expected to be a decisive factor in increasing Pi Coin's market credibility.

Meanwhile, Pi Network has completed infrastructure maintenance through Protocol 22 and is preparing for the full-fledged smart contract era. Active participation from node operators and improved on-chain metrics are interpreted as positive signs for ecosystem growth. If practical use cases are secured along with the achievement of technical milestones, it is expected to enter a new price discovery phase.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*