Pi Network's native cryptocurrency, PI, has defied a broader market downturn, posting a notable 8% gain over the past 24 hours to reach nearly $0.15. This surge comes after the token recently plunged to a new all-time low of approximately $0.13, marking a staggering 96% decline from its 2025 peak near $3.00. The token's market capitalization has rebounded to over $1.3 billion, restoring its position as the 55th-largest cryptocurrency.
The price recovery coincides with two key developments. First, the Pi Network Core Team has announced a series of Mainnet blockchain protocol improvements, setting a firm deadline of February 15 for the first major upgrade. This upgrade requires all node operators, or "Pioneers," to update their software or risk being disconnected from the network. The team emphasized that the availability and reliability of individual nodes are critical for network safety and liveness.
Second, the surge aligns with a slowdown in token unlocks, which have been a significant source of selling pressure. While a record 19 million PI tokens were unlocked on February 13, daily unlocks are projected to drop below 5 million by the end of the month, potentially reducing sell-side pressure.
Market sentiment is also being fueled by speculation of major exchange listings. Rumors have circulated on social media platform X that Kraken is preparing to add PI trading services in 2026. Furthermore, the community continues to anticipate a potential listing on Binance, the world's largest crypto exchange, which held a supportive community vote on the matter last year but has yet to act.
Technical analysis reveals signs of potential accumulation during the brutal downtrend. The Chaikin Money Flow (CMF) indicator has been trending upward since mid-December even as prices fell, suggesting that larger players may have been buying during the panic. Analysts suggest that a break above the $0.1608 resistance level—a 17% rally from current prices—could signal a more sustained bullish reversal for the embattled token.
