Pi Network Price Eyes 30% Surge Ahead of Pi Mainnet Protocol 26 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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Pi Network Price Eyes 30% Surge Ahead of Pi Mainnet Protocol 26 Upgrade
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Highlights

  • Pi Network price gains momentum as the Protocol 26 upgrade deadline approaches rapidly.
  • RoboPay partnership expands utility while trading volume jumps nearly 76%.
  • Breakout above $0.09 could target $0.11453, implying 30% upside potential.

Pi network price climbed on Wednesday as stronger trading activity and upgrade expectations improved market sentiment.

PI coin rose over 10% this week, and volume surged 75% to $11.5 million. This relocation was observed as traders monitored Protocol 26 plans and new adoption developments of RoboPay throughout the growing Pi ecosystem.

Protocol 26 Upgrade Fuels Optimism as Pi Network Nears Key Breakout

Pi Network is preparing its Mainnet for Protocol 26, with node operators facing an August 11 deadline. Operators must install the upgrade before then to maintain network access.

The update marks another step in Pi Network’s technical development. Eight upgrades have already been completed recently. Protocols 26 and 27 should bring the network closer to current features and functionality.

Expectations around the upgrade have strengthened sentiment among Pi holders. PI traded higher throughout the past week and approached a billion-dollar market value.

However, PI still trades about 22% lower over the past month. Selling pressure appears to be easing as buyers return near support.

RoboPay Partnership Boosts Pi Adoption as Trading Volume Surges 75%

Meanwhile, Fabric Foundation announced that Pi Network joined RoboPay as a payment partner. Another PI payment use case is added to the collaboration.

PI tokens can be used by users to pay robotic services. These involve deliveries, inspections, security patrols and humanoid assistance.

PI increased about 4% following the announcement, and has added over 10% to its week-to-week gain. The recent partnership and its prospects of adoption were welcomed by traders.

The volume of trading grew 75% in the 24 hours to around 11.5 million. Those increases were accompanied by rising prices, meaning that more buyers were involved.

More volume also lends more credibility to price movements than gains that are backed by low trading volumes. However, PI requires a long-term demand to fulfill its technical breakout.

The wider cryptocurrency market rose by 0.52% to 2.2 trillion. Improving conditions provided additional support for PI’s recovery.

Will Pi Network Price Recover Above $0.11 Soon?

The Pi coin surged to $0.08715 on Wednesday as buyers returned before the network’s Protocol 26 upgrade deadline.

The next key target would be the $0.10 resistance level in case of a confirmed breakout above $0.090.

The decision to clear off $0.10 would boost the confidence of buyers and bring more momentum traders into the market.  The chart shows that the primary bullish target after a successful breakout would be $0.11453. 

Such a move would be an increment of about 30% of the current market price. Nonetheless, the future PI coin outlook should first build support above $0.090 then if bullsh countinues the next target could be can higher. 

Failure to clear $0.090 could keep Pi network price trading between $0.082 and $0.090 during the coming sessions.

Pi Network Price Eyes 30% Surge Ahead of Pi Mainnet Protocol 26 Upgrade
Source: TradingView

The Relative Strength Index rose to 62.57, which is clearly above the 50 mark. The MACD also produced a bullish setup, with the MACD line rising above the signal line. The MACD line was at 0.00075, and the signal line was close to 0.00039.

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. What is driving the recent Pi Network price increase?

Pi Network’s recent price movement has been supported by stronger trading activity, growing adoption expectations, and anticipation surrounding the Mainnet Protocol 26 upgrade. The token gained more than 10% over the past week as buyers returned to the market.

2. When is the Pi Network Protocol 26 upgrade deadline?

The Pi Network Protocol 26 upgrade deadline is August 11. Mainnet node operators must complete the upgrade before the deadline to remain connected to the network and continue supporting network operations.

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.

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.