Key Takeaways:
Pi Network’s PI token rose more than 10 percent over the past week to trade near $0.192 as of April 28, following the successful completion of a major network upgrade. The move outperformed Bitcoin, which remained below the $78,000 level during the same period.
“The price strength of Pi Network seems to be strongly linked to the internal processes and event-based momentum,” according to a report from SoSoValue, which noted the project’s successful implementation of its Protocol 22 mainnet upgrade. The update, which node operators had to adopt by an April 27 deadline, is designed to improve scalability and transaction throughput.
The token’s 24-hour trading volume increased 26 percent to approximately $39.2 million, CoinGecko data shows, reflecting renewed trader interest. The technical setup for PI suggests a potential double-bottom breakout, with a key neckline forming near the $0.190 mark. A confirmed break above this level could open a path toward resistance targets at $0.2045 and $0.2200.
With the Protocol 22 upgrade complete, attention now shifts to the expected May rollout of Protocol 23. This next phase is projected to introduce full smart contract support, a critical step that would allow developers to build decentralized applications directly on the Pi Network. More than 10 billion PI tokens have already been migrated to the mainnet, with about six billion of that supply remaining in locked contracts, limiting immediate sell-pressure ahead of the update.
Founders Chengdiao Fan and Nicolas Kokkalis are also scheduled to speak at the Consensus 2026 conference in May, an event that is driving social media interest in the project.
On the downside, initial support for PI is seen at $0.1832. A failure to hold this level could weaken bullish momentum and expose the token to a potential decline toward the 50-day exponential moving average near $0.1776. While short-term indicators are positive, the token remains below its 200-day EMA, suggesting longer-term resistance is still in place.
This article is for informational purposes only and does not constitute investment advice.
