Pi Network Price Outlook Ahead of Protocol 23 Launch: Will PI Reclaim $0.20?

Key Insights:

• Pi Network’s Protocol 23 upgrade will bring smart contracts and DApp support.
• PI price trades near $0.159, with $0.155 acting as key short-term support.
• A move above $0.165 could open the path toward $0.170 and $0.180.

Pi traded near $0.159 on May 18 as traders prepared for the Protocol 23.0 upgrade scheduled later in the day. The release marks one of the network’s largest technical updates since launching its mainnet ecosystem.

Market attention has focused on whether the upgrade can expand Pi beyond wallet transfers and basic ecosystem activity. Despite the announcement, price momentum remained weak as broader crypto markets stayed under pressure.

Protocol 23 Expands Pi Network Functionality

Protocol 23.0 will introduce native smart contracts and decentralized application support to the Pi ecosystem.

The upgrade is built on Stellar Core v23.0.1 infrastructure and follows earlier protocol versions released over the past two years.

According to the Pi Core Team, Protocol 23.0 is built on Stellar Core v23.0.1 infrastructure. It follows earlier protocol versions, including 19.1, 20.0, 21.0, and 22.1. Therefore, the May 18 launch represents the next phase in the network’s gradual technical expansion.

One of the key additions is Pi App Studio integration. The feature brings AI-powered app conversion tools, allowing developers to convert apps built with tools such as Claude and Codex into Pi-compatible decentralized applications. This may help speed up early ecosystem growth if developers actively adopt the new framework.

Moreover, smart contract functionality could improve Pi Network’s use case beyond transfers and wallet activity. The real test, however, will be whether developers launch useful applications and whether users interact with them after activation.

Node Migration Deadline Moves to May 19

Pi Network also extended its node migration deadline from May 15 to May 19 after releasing upgraded software. The extension gives node operators more time to move to the new version before the full migration process is completed.

The Pi Core Team said the extension is tied to software performance optimization. The updated release will focus on improving migrated database performance, which should help nodes operate more efficiently after Protocol 23.0 goes live.

This matters most for operators managing several nodes or systems that need strong uptime. The upgrade process could be smoother, and the network could remain more stable once the upgrade is activated, if the database’s performance is improved.

In particular, the additional time did not relate to infrastructure or operation failures, the team said. Instead, it described the extension as a practical move to give node operators more room before the main protocol change.

PI Coin Price Stays Weak Ahead of Launch

Still, the upgrade has not yet sparked a strong market reaction. PI traded near $0.160 on Sunday, remaining close to the important $0.155 support area on the 4-hour chart.

The technicals also indicate that the buyers are not completely in control. The MACD continues to show a lack of momentum, and the Chaikin Money Flow has continued to stay below zero, indicating that capital is continuing to flow out.

When the price drops below the $0.155 price level, sellers can focus on the next support level around $0.150. An even bigger drop might revive $0.145, particularly if the crypto market turns sour again.

On the upside, PI must first clear $0.165 to show early recovery strength. A stronger move above that level could send the price toward $0.170. If upgrade sentiment improves, buyers may then attempt a push toward $0.180.

PI Coin Price Eyes Recovery Above $0.20

The $0.20 level remains a key psychological target for Pi Network price. However, the current chart does not yet confirm that buyers have enough momentum to reach it quickly.

The smooth launch of Protocol 23.0 and the test of smart contracts and DApps could help to boost sentiment. Further, the longer node migration window could help decrease the pressure on the operators during the upgrade.

However, volume and capital inflows are required to confirm the price. If buying interest doesn’t strengthen, the price of PI may stay within the $0.165 range.

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