Pi Gains 4.6% as Network Upgrades, Potential Kraken Listing
Pi network gained 4.63% in 24 hours to $0.229 on Wednesday, outperforming a declining cryptocurrency market, driven by network upgrades and anticipation of Pi Day.
The outlook remains bullish on the back of a confirmed network upgrade and strong social anticipation, providing clear alpha and separating Pi from broader market weakness.
The token’s latest price appreciation is closely tied to a successful network update to v19.9, which reportedly added $230 million to its market cap.
The Pi Core Team has set a March 12 deadline for all Mainnet node operators to complete the mandatory v20.2 protocol upgrade. Analysts warned that failure to update will disconnect nodes, halting mining and validation capabilities.
This upgrade aims to enhance network performance, security, and scalability, particularly for decentralised AI computing applications.
Retail investors’ sentiment is elevated ahead of the upgrade and the upcoming Pi Day on March 14. These sequential developments are driving speculative buying, as investors bet on continued technical progress and community events.
The immediate trend hinges on the $0.20 support level. Holding above it could pave the way for a run toward the next major resistance at $0.2935, a level highlighted by the analysis. The key upcoming event is the v20.2 upgrade on March 12.
PI’s price rallied roughly 30% over the past week, reaching a three-month high near $0.23.
Concurrently, on-chain data shows significant token movement to centralised exchanges, with over 4.8 million PI transferred within 24 hours, bringing the total on exchanges to 454.1 million.
The token’s Relative Strength Index (RSI) also briefly exceeded 70, indicating overbought conditions. This creates a mixed short-term outlook.
The price surge reflects strong buying interest and Pi Day hype. However, the large exchange inflows often precede selling pressure, and the overbought RSI suggests a corrective pullback could be imminent.
With Pi Day (March 14) approaching, analyst speculation is fueling bullish price targets. Crypto analyst Dr Altcoin suggested PI could reach $0.50–$0.75 by Pi Day, driven by the completion of network upgrades to version 23 and rumours of a potential Kraken listing.
The token’s trading volume surged over 65% to $39.7 million, reflecting heightened retail interest. This is bullish for sentiment but carries high risk. The forecasts are purely event-driven speculation.
A significant announcement on Pi Day could extend the rally, but if news disappoints, a sharp “sell-the-news” reversal is likely, given the already elevated price and technical indicators. VIRTUAL Gains 6% on AI Token Momentum, Nvidia’s NemoClaw
