What to Know
- Pi is hovering near $0.17 support, weak demand and low trading volume keeping the trend bearish.
- Mandatory Protocol 21 upgrade could impact network stability if node operators fail to update in time.
- Upcoming upgrades may bring smart contracts and better liquidity, but impact is not immediate.
Pi Network’s token is still under pressure, continuing its downward trend despite slight recovery attempts across the broader crypto market. The token recently dropped to around $0.17, reflecting ongoing weakness driven by low liquidity, cautious investor sentiment, and upcoming network developments.
Pi Struggles to Hold Ground
Pi has been steadily losing value over the past few days, slipping about 1.5% in the last 24 hours. The token is now hovering close to the $0.17 support level.
According to CryptonewsZ, Pi Network has declined to $0.176 earlier today as it continues to underperform due to weak liquidity and a cautious market environment. The lack of strong buying activity means even small sell-offs are enough to push the price down. Despite the current weakness, network activity continues to develop gradually. More than 119,000 users have completed second migrations of their balances, indicating ongoing participation.
But unlike larger cryptocurrencies, Pi has relatively low trading volume. This makes its price more sensitive to sudden movements, especially during uncertain market conditions. From a technical perspective, Pi is still in a bearish phase. The token has been trading sideways near $0.18 but has struggled to break past the $0.20 resistance level. Another key signal is the RSI, which remains below 50. This suggests that buyers are not strong enough to reverse the trend yet.
Deadline Creating Uncertainty
One of the biggest factors currently affecting Pi is the upcoming Protocol 21 node upgrade deadline on April 6. The Pi Core Team has made it clear that node operators must update their systems before this deadline. Any node that fails to comply will be disconnected from the network.
This has created additional pressure and uncertainty, especially among users responsible for maintaining network infrastructure. The upgrade itself is more of a foundational step rather than a major feature release. It prepares the network for future developments but does not immediately improve user activity or liquidity which explains the muted market response.
Even with this progress, Pi Network is keeping its priorities clear. First migrations still come before second ones. This means users who have not moved their initial balance will not be affected. Their process continues as usual. The network also confirmed that the second migration does not slow down the first phase. Both processes run side by side. But the first phase gets priority until it is fully completed. This approach aims to keep things fair. This process ensures that developers do not leave early-stage users behind while others move ahead.
Future Upgrades
Looking ahead, Pi Network has planned further upgrades: Protocol 22.1 expected in late April and Protocol 23.0 scheduled for May. These updates are expected to introduce important features like smart contracts, a decentralized exchange, and better liquidity tools.
If successfully implemented, these could significantly improve the network’s utility and attract more users. However, until these features are live, Pi remains in a “waiting phase,” with limited real-world use cases compared to other blockchain ecosystems.
While development continues, the community has expressed frustration, especially around KYC delays. Many users claim they have been waiting for years to get verified and access their mined tokens. Some have also raised concerns about declining node participation, which could affect decentralization in the long run.
Conclusion
Pi Network is currently facing a mix of challenges. While future developments could improve its outlook, the token remains under pressure for now. The April 6 node deadline and upcoming upgrades will be key events to watch, as they could determine whether Pi stabilizes or continues its decline.
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