Pi Network’s PI Crashes to 3-Month Low Despite ‘Game-Changing’ Update Hype

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Pi Network’s PI Plunges to New 3-Month Low Despite Hype Around ‘Game-Changing’ Update

The Pi Network token is currently decreasing in value, which is disappointing news for the project’s large and enthusiastic community.

The recent price drop happened while people were waiting for news about updates to the protocol and some announcements from the team.

PI Dumps Yet Again

This altcoin has definitely had better times, just a couple of months ago, in fact. It jumped to $0.30 when news started circulating about its listing on the well-known US exchange, Kraken. However, the listing didn’t maintain the price increase – instead, the coin’s value quickly dropped back down to its original price of $0.18, a common reaction to such announcements.

After the initial surge, further attempts to break through resistance levels failed, and the price of PI repeatedly stalled at $0.20. By the end of April, sellers had taken over and have been in control ever since. PI briefly found some support around $0.17, and for a few weeks, the price fluctuated between $0.17 and $0.18.

The token’s price dropped to $0.155 over the weekend, reaching a three-month low after facing rejection. Another dip occurred in the last 12 hours as the broader market declined. However, this token experienced a sharper fall than most other altcoins, losing another 6% of its value and falling below $0.15.

The company’s value has dropped below $1.6 billion, meaning it’s no longer among the top 50 largest alternative cryptocurrencies by market size.

Update Still Awaited

Recently, the project team issued a safety warning to users and announced important identity verification requirements. They also stated that users needed to upgrade to version 23 of the protocol by May 15th. This upgrade follows several previous updates, including versions 19.6, 19.9, 20.2, and 22.

The expected date for the update has passed, but the Core Team hasn’t officially confirmed it’s finished. There’s conflicting information online – some people on X say the update is live, while others think it will take a bit longer.

Despite any challenges, most people believe version 23 will significantly improve the Pi Network, potentially allowing for smart contracts, decentralized apps, and a Pi exchange.

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2026-05-18 09:51