Pi Network (PI) Surges 60% Amid Core Team Token Transfers and Protocol Transition

Pi Coin has rebounded from its February record low of $0.13, rallying 60% to $0.2056 before stabilizing around $0.17. However, the recovery faces potential headwinds as on-chain data reveals Pi Core Team wallets moving significant PI volumes to exchange-linked addresses—a pattern that often precedes sell pressure.

The network remains in the midst of a major upgrade, with four stages remaining in its transition to versions v22/v23. Over 16 million users have completed KYC migration, a process accelerated by new AI tools. From a market structure perspective, $0.20 stands as a critical resistance level, while a breakdown below $0.15 could trigger a retest of the $0.12 support zone.

Community frustration continues to simmer. Thirty-five million early miners are still awaiting the full realization of the Open Mainnet after years of anticipation. While protocol development progresses steadily, the recent token movements suggest a growing divergence between technical milestones and market confidence.