PI Network’s PI Token Drops 13% Weekly As Team Announces Major Deadline Ahead

Remember that PI traded around $0.30 a few weeks ago. Now, it has dropped below $0.18.

The Core Team behind the controversial blockchain project has outlined a deadline for the completion of the next major development, which should take place in the next week or so.

However, the protocol’s native token continues to bleed, dropping more than 3% in the past day and dropping by double digits every week. Removed all benefits charted during Kraken’s post-announcement meeting.

Next Review Deadline

The major Pi Network protocol update began in late February when the team announced the move to version 19.6. The next one, v19.9, followed in early March. The most anticipated development was version 20.2, which attracted a lot of attention as it created the foundation for smart contract capabilities, which will allow the Pi Network to become a fully functional blockchain ecosystem.

After it was successfully developed by Pi Day (March 14), the team set its sights on the next big move – moving to protocol 21. However, at first it did not give a fixed time for completion, which led some members of the community to doubt the actual implementation.

However, the Core team explained in a post X hours ago that the Pi Network Mainnet has started the upgrade process to protocol 21, and the deadline is April 6. As with all such previous updates, they urged all Mainnet nodes to “complete this step before the deadline to stay connected to the network.”

Pi Mainnet Upgrades to Protocol 21 – Deadline: Apr 6. All Mainnet nodes are required to complete this step before the deadline to stay connected to the network. Details here:

— Pi Network (@PiCoreTeam) March 27, 2026

PI Still Tanks

Perhaps due to the aforementioned updates or, more likely, due to Kraken’s decision to list the underlying asset for trading, the PI token moved forward in mid-March. At one point, right after Kraken’s announcement, it was up 30% in 24 hours. Overall, it jumped nearly 100% intraday and marked a multi-month high of around $0.30.

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However, when the original listing became official, it turned out to be another classic sell-the-news event, and PI crashed to below $0.20 almost immediately. It has remained below that level since then. It’s now down below $0.175 after another 3% decline over the past day, as it has lost 13% of its value weekly.

Data from PiScan shows that the average daily opening of PI tokens will be very high next month, close to 7 million. There will be a few days when more than 10 million coins will be released, which could intensify the pressure to sell quickly and lead to further declines.