- Pi Network price tests a breakout at $0.3610 with $0.344 as key support.
- Pi Network ecosystem expands with PiOnline, the v23 upgrade and Token2049 spotlight.
- Whale purchases 350M+ PI but daily unlocks risk diluting supply.
Pi Network’s native token, PI, is showing renewed signs of life after weeks of sluggish performance, supported by ecosystem growth, protocol upgrades and notable whale accumulation.
The upcoming V23 protocol upgrade scheduled for September 15 has become a focal catalyst, raising questions about whether PI can sustain its recent uptick or slip back into weakness.
Bulls test a fragile breakout
PI Coin has posted modest gains in recent sessions, rising over 3% in the past 24 hours to trade around $0.3549.
This recovery follows a roughly 12% decline over the past month, reflecting cautious optimism among traders.
Analysts note the token has tested the upper boundary of a descending channel and that a close above $0.3610 is needed to confirm a true breakout.
If that move holds, the next hurdle is the 50-day exponential moving average near $0.3836.
Technical indicators also point higher: the MACD line and its signal counterpart are trending upward, suggesting growing bullish momentum.
The RSI has recovered toward neutral territory near 50, indicating increased buying pressure after weeks of muted sentiment.
Market analysis from CoinLore highlights the importance of staying above $0.3426 for bulls to target higher levels, with resistance points identified at $0.4767, $0.5931 and $0.7742.
Ecosystem growth fuels renewed optimism
Beyond technicals, expansion across the Pi Network ecosystem has injected fresh energy into the project.
The launch of PiOnline — a hybrid gaming and DeFi platform featuring staking and DAO governance — has been well received by the community.
Pi Network also secured a gold sponsorship at the upcoming Token2049 conference in Singapore, boosting the project’s visibility at a major global Web3 event.
Dr. Chengdiao Fan, one of two Founders at Pi Network, will be a speaker at the TOKEN2049 conference, which takes place on October 1-2 in Singapore! https://t.co/npzT9pDUiJ
As one of the largest crypto events in the world, this conference is a great opportunity for Pi Network to…
— Pi Network (@PiCoreTeam) September 8, 2025
On the protocol side, version 23 introduces decentralized KYC processes and Linux node support, marking meaningful progress toward scalability and regulatory compliance.
Developer activity has also picked up, with 37 new projects launching on Testnet in early September.
These projects span DeFi and gaming applications and accompany the anticipated v23 upgrade, which aims to improve cross-chain interoperability.
Such advances suggest Pi is evolving beyond its mining-focused origins and moving closer to becoming a functioning ecosystem with tangible utility.
Whale activity sparks speculation
While retail demand has softened in recent weeks, on-chain data tells a different story for larger players.
A mysterious whale wallet identified as “GAS…ODM” has accumulated more than 350 million PI tokens, valued at over $124 million.
Another major holder reportedly controls in excess of 373 million PI.
Such accumulation often signals confidence from large investors and has led some analysts to suggest Pi may be in a Wyckoff-style accumulation phase that can precede meaningful rallies.
That said, supply dynamics remain a clear risk: roughly 159.5 million tokens are scheduled to unlock daily through September, translating to about $56.7 million across a month.
This steady release could dilute prices if demand does not keep pace.
Pi Network price outlook
With the v23 upgrade approaching, Pi Network stands at a pivotal moment. The coming weeks will determine whether the token’s rise can develop into a sustainable rally or whether supply pressure will drag it back toward recent lows.
Short-term prospects hinge on PI maintaining support near its seven-day simple moving average around $0.344.
If that support fails, the token could revisit the August low near $0.322.
Conversely, a decisive break above the $0.3610 trendline and sustained momentum could pave the way to $0.3836 and potentially higher resistance levels identified by analysts.
Over the longer term, a combination of whale accumulation, protocol upgrades and increased accessibility through partnerships could strengthen Pi’s market position.
The project’s main challenge will be balancing token issuance with real adoption and securing listings on major exchanges to deepen liquidity.