Pi Network v23 Upgrade Goes Live as Major Mainnet Nodes Complete Updates: Will Pi Coin Rally To $0.20?

Pi network has completed its v23 upgrade after most major Mainnet Nodes finalized critical system updates this week. Node operators upgraded operating systems from Ubuntu 20 to Ubuntu 24 before the upcoming migration phase. Database infrastructure also moved from PostgreSQL 12 to PostgreSQL 16 to improve network stability and performance.

Pi Network v23 Upgrade Completed Across Majority of Mainnet Nodes

The protocol layer is now preparing for the transition from version 22 to version 23. Mainnet synchronization has also been completed ahead of major protocol changes across the network.

Big kudos to Mainnet Node operators for upgrading to v23.

Most major Nodes have now been upgraded, and the protocol is expected to move to v23 soon.

This was one of the most challenging upgrades to date, as it involved multiple subsystem upgrades and optimizations that…

— Pi Network (@PiCoreTeam) May 20, 2026

Meanwhile, Pi Network price traded near $0.15 on Wednesday after recording modest daily gains. The token gained 1.39% during the last 24 hours despite broader crypto market weakness. Investors continue monitoring the project as the completed upgrade strengthens confidence in upcoming network developments.

The final rollout of Pi Network’s Protocol V23 is underway. V23 is now working well on Testnet 1 and Testnet 2. Mainnet continues to be on V22 while node operators are migrating.

The upgrade is considered more than a typical software update. Its purpose is to enhance synchronization in the network and to boost consensus standardization. It sets up the chain for smart contract programmability.

Crypto Market Pressure Limits Pi Coin Rally

The small rebound by Pi occurred in a low market. The price of Bitcoin dropped below $77,000 for the first time since the end of April. Digital assets have been under pressure overnight on Tuesday.

The overall value of the cryptocurrency market dropped to $2.56 trillion. Daily trading volume was $91.3 billion, up during the selloff. The move was attributed by traders to geopolitical concerns and dull risk appetite.

The Crypto Fear and Greed Index fell to 39, which is in the neutral zone. The reading showed that although Pi was initially successful investors were still cautious.

Pi will need to keep a lid on the $0.15 range for the time being. If it is confirmed that the V23 Mainnet migration will happen, then there is a chance of a go up one again. Buyers may likely be seen retesting at $0.20, but market conditions will pose a significant obstacle.

Will PI Network Price Recover Toward $0.20 This Week?

As of the reporting, the Pi coin price traded at $0.1507, with a slight surge of 1.7%. After the sellers pushed down PI below the $0.16 support level, price action remained weak.

The breakdown showed pressure below the former support area, which has become the nearby resistance. PI is currently being tested in the $0.15 zone, where the buyer tried to recover short.

The RSI level was at 32.50, indicating weak momentum in the near oversold zone.  The MACD histogram signalled a slight uptick as relief set in from the sell-off. The MACD line remained in the red area of the MACD and below the zero line.

A clean hold above $0.15 would fuel a further move to $0.16. The next bull market price target is $0.17, if buyers recover $0.16, as reported in full Pi coin forecast.

A further push may bring $0.18 back into play for short-term traders. The bearish pattern can still remain active, though, around $0.16.

If so, PI may have to look at $0.15 again and face a further drop. A confirmed break below $0.15 could expose $0.1450, then $0.14.