Pi Network Completes Protocol 24 Upgrade While Price Drops 4%

Pi Network has completed its Protocol 24 upgrade, which the Pi Core Team described as one of the network's most challenging migrations to date. The team congratulated node operators on surviving the transition and confirmed that the next major upgrade, Protocol 25, is scheduled for June 18. The upgrade marks a meaningful technical milestone, though Pi's price appears to be heading the other direction.

Technical Breakdown Signals More Weakness According to one crypto analyst, Pi recently slipped below the lower trendline of a symmetrical triangle pattern, a development that usually points to bearish continuation. The pattern had reflected a period of consolidation where buyers and sellers wrestled for control. Instead of breaking upward, Pi lost key support and accelerated lower, suggesting sellers have finally won the standoff. The analyst also noted that lower highs and the loss of trendline support point to mounting selling pressure. Any short-term bounce attempt could run into resistance near the former triangle support zone, which may now flip into a ceiling.

Network Progress Isn't Helping the Price The broader crypto market has also struggled in recent sessions, adding further pressure on Pi. Bitcoin recently fell below $65,000 for the first time since February as risk-off sentiment returned across the market. Pi has dropped around 4% in the past 24 hours to roughly $0.125, underperforming an already weak crypto market. The token is now down about 27% since the start of the year and is trading near its lowest level since February 14.

June Token Unlocks Add More Pressure Supply expansion is creating another headwind. More than 174 million Pi tokens, worth over $26 million at current prices, are scheduled to unlock in June alone. In a market already dealing with thin liquidity, the extra supply could increase selling pressure and make recovery attempts even more difficult.

While the successful Protocol 24 upgrade could support utility-driven demand later in 2026, traders seem more focused on near-term risks. For now, weak market sentiment, bearish technicals, and upcoming token unlocks continue to outweigh the network's development progress, keeping pressure firmly on Pi's price.