Pi Network has begun preparing for its Protocol 28 upgrade after completing Protocol 27 on Mainnet, while its native token PI continues to trade below the psychological $0.10 level. According to CoinGecko data, PI was changing hands near $0.0893, down about 2% over 24 hours but up roughly 2.3% across the past week. Market capitalization stood near $1 billion, with approximately 11.24 billion PI in circulating supply and 24-hour trading volume around $6.4 million.
The project’s Core Team confirmed on September 26 that Protocol 27 had been successfully completed on Mainnet and that Protocol 28 was already live on Testnet. Mainnet node operators have until October 13 to install the required software update, three days before the scheduled October 16 Protocol 28 activation. The new protocol changes how the network handles delays in transaction data, gives developers the ability to upgrade groups of smart contracts together, and allows applications to modify stored data more safely during development.
PI’s price action remains range-bound between roughly $0.08 and $0.10, with the seven-day range spanning about $0.085 to $0.0945. Technical indicators show limited directional conviction: the Relative Strength Index sits at 47.99, slightly below neutral, while the Aroon Oscillator reads -14.29, indicating mild bearish pressure rather than strong downside momentum. The token remains below its 20-day, 50-day, 100-day and 200-day exponential moving averages, and would need to clear the $0.09025 and $0.09180 area before making another credible push toward $0.10.
Beyond the protocol work, Pi Network continued KYC and Mainnet migration updates in September. More than 417,000 users were cleared to resume verification after previously being flagged as possible duplicates, while roughly 497,000 Fast-Track wallets faced issues claiming migrated PI because their wallets lacked gas funds. Trading remains relatively light for the token’s market value, with OKX’s PI/USDT pair handling more than $2 million in 24-hour volume and Gate’s PI/USDT pair accounting for over $1.2 million. PI remains approximately 97% below its record high of $2.99.
