Pi Token Plunges 13% as Team Enforces April 6 Deadline-What’s Next?

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Pi Network’s PI Token Dumps 13% Weekly as Team Announces Crucial Deadline Ahead

The team working on the blockchain project—which has faced some controversy—has announced they expect to finish the next big upgrade within the next week.

Despite this, the protocol’s token is still losing value, down over 3% in the last day and significantly – over 10% – in the past week. It has now lost all the progress it made after the announcement of its listing on Kraken.

Next Update Deadline

Pi Network started major updates to its system in late February with the release of version 19.6. This was followed by version 19.9 in early March. The biggest update, version 20.2, was especially important because it prepared the network for smart contracts – features that would allow Pi Network to operate as a complete blockchain system.

The team successfully completed an upgrade on March 14th and is now working towards protocol 21. While they didn’t announce a specific deadline, this lack of timeframe caused some in the community to wonder when the update would actually happen.

The Pi Network team announced on X a few hours ago that the Mainnet is being updated to a new version, protocol 21. They’ve set a deadline of April 6th and are asking all Mainnet node operators to update their nodes before then to stay connected to the network, just like with previous updates.

The Pi network is updating to a new version, Protocol 21, and you need to update your node by April 6th to stay connected. Find more information here:

— Pi Network (@PiCoreTeam) March 27, 2026

PI Still Tanks

As an analyst, I’ve been tracking the PI token, and it experienced a significant surge in mid-March. This was likely driven by Kraken’s decision to list the asset, although recent updates may have also played a role. Immediately following the announcement, we saw a 30% jump in just 24 hours. Over the course of a few days, the token nearly doubled in value, peaking at around $0.30 – a high not seen in months.

When the official listing finally happened, the price of PI immediately dropped – a typical ‘sell-the-news’ reaction. It fell below $0.20 and has stayed there since. Currently, it’s trading under $0.175 after another 3% decrease in the last day, representing a 13% loss for the week.

PiScan data indicates a significant number of PI tokens – around 7 million per day – will be unlocked over the next month. Several days will see over 10 million tokens released, potentially increasing selling activity and causing prices to fall further.

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2026-03-28 10:37