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

▲ Pi Network (PI)/ChatGPT generated image

According to the virtual asset media CoinGeek on April 27 (local time), the Pi Network (PI) core team has 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 complete the update by 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 introduces a dual-interface setup that allows simultaneous use of the node screen and desktop application. Node operators can check balances and manage network functions more efficiently via computer. This upgrade is more than just a functional improvement; it is a prerequisite for Protocol 23, scheduled for May 18. Protocol 23 is expected to introduce full-fledged smart contract functionality to the Pi Network ecosystem.

Market data is reacting sensitively to this upgrade. The 24-hour trading volume of Pi Coin surged by 62%, reflecting high investor interest. On-chain analysis showed that outflows exceeded inflows by 800,000 PI. This suggests that large 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. Nicolas Kokkalis, co-founder of Pi Network, plans to emphasize practical utility at this event. Kokkalis stated that tokens "should function as tools within actual applications, not merely as financial instruments." These external actions 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 era of full-fledged smart contracts. Active participation from node operators and improvements in on-chain metrics are interpreted as positive signals for ecosystem growth. If practical use cases are secured along with the achievement of technical milestones, it appears that the network will 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.*