Pi Network (PI) Price: Core Team Sells Tokens as Network Upgrade Continues

TLDR

• Pi Coin hit a record low of $0.13 in February before rebounding 60% to $0.2056
• The Pi Network is mid-way through a major upgrade to v22/v23, with four stages still to complete
• Over 16 million users have completed KYC migration, with new AI tools speeding up the process
• On-chain data shows Pi Core Team wallets moving large amounts of PI tokens to exchange-linked addresses
• PI is currently trading around $0.17, with $0.20 acting as key resistance and $0.12 as the next major support if $0.15 breaks

Pi Coin is trading around $0.17 after a sharp recovery from its all-time low in February. The token dropped to $0.13 before bouncing 60% to a high of $0.2056. It has since pulled back.

The recovery has been under pressure. On-chain data shows wallets linked to the Pi Core Team moving large amounts of PI tokens to exchange-linked addresses in the past 48 hours.

This kind of move typically signals selling. When large holders sell, it absorbs buy pressure and can keep prices capped.

The timing has frustrated many in the community. Over 35 million users mined PI on their phones during the project’s early years, and many waited years for the Open Mainnet launch.

Network Upgrade Still In Progress

The Pi Network is currently upgrading its protocol toward v22 and eventually v23. Two of the six planned upgrade phases have already been completed.

The remaining upgrades are expected to wrap up by April. The upgrade is designed to improve developer tools, network speed, security, and scalability.

Historically, tokens often see price movement around major technical upgrades. Whether that holds true here depends in part on whether selling pressure eases.

Validator rewards are also expected to be distributed later this month. Rewards will be based on validator performance, volume of work done, and network integrity.

KYC Progress and New Features

Over 16 million Pioneers have completed the KYC migration process. The team has added new AI tools to speed up verification.

Pi Network’s developers have hinted at a KYC-as-a-Service product that would put PI in competition with projects like Worldcoin and Humanity Protocol.

Price Levels to Watch

PI is hovering near $0.17. The $0.20 level has shifted from support to resistance, according to technical analysts.

The RSI is sitting near 40, which points to weak buying momentum. A move back above $0.20 on strong volume would challenge the bearish setup.

If $0.15 fails to hold, the next key support sits at $0.12. That would mark a deepening of the drawdown from PI’s all-time high.

The daily chart shows the token attempting to cross above the Ichimoku cloud. It has flipped the Supertrend indicator from red to green, and is testing the 50-day moving average.

A confirmed move above $0.2056 could open the path toward $0.25, based on current chart structure.

As of now, PI is trading around $0.17, with the next major price test centered on the $0.20 resistance level.

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