Pi Network’s PI Token Jumps 7% as Mainnet Upgrade Deadline Arrives
Pi Network's native token (PI) rallied 7.41% to $0.162, recovering from a yearly low of $0.1302 as traders positioned ahead of its February 15 mainnet protocol upgrade. Trading volume surged to $32 million amid broader crypto market gains.
The upgrade deadline requires all node operators to adopt version 19.6, promising enhanced security and scalability. This technical catalyst coincides with favorable macro conditions—U.S. inflation cooled to 2.4% in January, fueling expectations for Federal Reserve rate cuts that typically support risk assets.
Technical indicators show bullish signals: the Relative Strength Index (RSI) at 66 and Chaikin Money Flow (CMF) at 0.41 suggest building momentum. The $0.17 level now stands as key resistance.