Pi Network Price Ahead of October 16 Protocol 28 Upgrade

Frank bevah
Frank bevah

Frank bevah

Market Analyst
Frankbevah is a senior crypto market analyst and stock Journalist with four years of industry experience. He focuses on in-depth market analysis, emerging trends, and real-time developments across cryptocurrency and equity markets.
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Pi Network Price Ahead of October 16 Protocol 28 Upgrade

Pi Network Price traded near $0.0886 on September 28, ahead of its scheduled Protocol 28 Mainnet upgrade on October 16.

The broader crypto market fell 2.72% to $2.83 trillion over 24 hours, as leveraged positions unwound and traders took profits. Bitcoin changed hands near $82,621, Ethereum around $2,639, and XRP price at $1.47. Pi Network price remained below $0.10, a level that has capped recent recovery attempts.

Pi Network Tests Protocol 28 Ahead of October 16 Mainnet Upgrade

The Pi Network began testing Protocol 28 after completing its Protocol 27 Mainnet upgrade, it said on September 25. The newer version runs on Testnet before its planned Mainnet deployment. Node operators must install Protocol 28 by October 13, ahead of the planned October 16 Mainnet activation. 

The upgrade aims to improve how the network handles delays in transaction data. It also enables the post-deployment of groups of smart contracts and more secure changes of data in applications. Those changes may provide developers with increased flexibility when developing and managing services on Pi. This will allow three days between the software deadline and roll out of Mainnet. 

Meanwhile, PI remains below $0.10 despite the progress on network infrastructure. Since July, the token has been trading between $0.08 and $ 0.10, which indicates low momentum. The next focus is on whether or not testing and node upgrades are completed on time. The effects of the upgrade on the market are unpredictable before opening.

Will Pi Coin Price Hold $0.087 or Fall Toward $0.08?

The Pi Coin price stood at $0.08854 on September 28, below $0.09 after a stalled rebound. However, PI remained below the $0.092 resistance that capped recent advances.

Pi Network price recovered from a September low near $0.08 before returning above $0.09. Repeated moves toward $0.092 then stalled, bringing the marked $0.087 support back into focus.

A four-hour close below $0.087 could put $0.085 in focus. Further losses could bring the earlier low near $0.08 back into view.

If $0.087 holds, the Pi Network price outlook for long term would first need to reclaim $0.09. A move above $0.092 could open a path toward $0.095, the next marked resistance.

Pi Network Price Ahead of October 16 Protocol 28 Upgrade
Tradingview

The four-hour relative strength index stood at 45, below the neutral 50 level.

The MACD line stood at 0.00017, below its signal line at 0.00060. Its histogram read minus 0.00043, adding to the signs of weaker short-term momentum.

Investment disclaimer: The content reflects the author's personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Frequently Asked Questions (FAQs)

1. When is the Protocol 28 Mainnet upgrade scheduled?

Pi Network plans to activate Protocol 28 on Mainnet on October 16. The upgrade was undergoing Testnet checks ahead of that date.

2. What is the deadline for node operators?

Node operators must install Protocol 28 by October 13. That leaves three days before the planned Mainnet activation.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Frankbevah is a senior crypto market analyst and stock Journalist with four years of industry experience. He focuses on in-depth market analysis, emerging trends, and real-time developments across cryptocurrency and equity markets.