Pi Network Price Prediction as Final Core Update and Crucial Speeches Near

Key Insights

• Pi Network price has pulled back in the past few days.
• The network is continuing its upgrade this month.
• Technical analysis points to more downside ahead of its founders’ speeches.

Pi Network price has slipped in the past few days as the rally experienced last week stalled. The token was trading at $0.18 on Saturday, down modestly from this week’s high of $0.200. This article explores what to expect as the v22 upgrade ends and as speeches by its founders near.

Pi Network Price Falls as Key Upgrade Nears its End

Pi Coin price token has come under pressure in the past few days despite the network having some potential catalysts. One of them is the fact that network upgrade is going on well and has now finished a new milestone.

In a statement, the developers said that it successfully upgraded to Protocol 22. With this, the final stage is set to start in the coming days.

Therefore, the goal is to have the final stage of the upgrade conclude this month. That aligns it with the Stellar Protocol 23, which is commonly known as Whisk.

The new upgrade will introduce some notable features. This includes parallel processing that will increase the number of transactions per second expected to soar. It also introduces unified events, a substantial fee reduction, and reusable module cache.

Most importantly, the upgrade has introduced smart contracts to the network. That makes it easier for developers to build decentralized applications (dApps). Some of the new use cases will be applications in industries like decentralized finance (DeFi), real-world asset (RWA), and gaming.

Launching smart contracts is important as it will create more utility for the token. For example, if successful, the launch of new dApps in the network will boost the utility of Pi. It will also potentially lead to token burns, which will reduce the number of tokens in circulation.

The challenge, however, is that the smart contract industry is highly saturated, with hundreds of networks contending for market share.

Despite this, only a handful of networks, including popular ones like Solana, Ethereum, and Tron have gained market share. Other chains like Kadena, Cardano, and IOTA have struggled to gain share in the past few years.

Chengdiao Fan and Nikolas Kokkalis Speeches

The next important catalyst for the Pi token will happen next week when the Consensus event happens in Miami.

This event will bring together the biggest players in the crypto industry. Trump’s sons, Changpeng Zhao, and top regulators from the Commodity Futures Trading Commission (CFTC) will attend.

Pi Network’s founders will be among the keynote speakers in this event. This means that they may break some news. At the same time, the developers will also highlight the milestones that Pi has made in the past few years.

Specifically, they will mention the success of the KYC process that has verified over 18 million people in the past few months. This verification has become important, especially now that the AI industry is growing substantially.

Pi Network has already hinted that it will ultimately move to compete with the likes of Humanity Protocol and Worldcoin. Just recently, World reached a deal with top companies like Zoom Video and Okta.

Pi Network Price Prediction: Technical Analysis

The daily timeframe chart shows that the Pi Network price has crashed in the past few weeks, crashing from a high of $0.2974 in March to the current $0.1800.

Its recent attempt to rebound has found substantial resistance at $0.200, its highest point on April 29.

The token has dropped below all moving averages and the Supertrend indicator. Also, the Relative Strength Index (RSI) and the MACD indicators have continued falling.

The token will likely keep dropping. It may reach the next key support level at $0.1630, which was its lowest point on April 13. A drop below that level will point to more downside, potentially to the key support level at $0.1500.

A move above this week’s high of $0.200 will signal further gains. It could push the token toward the psychological level of $0.2500.

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