# Pi Network token volatility continues amid protocol upgrades > Live situation record from CLSTR: https://clstr.news/situations/pi-network-faces-migration-backlog-and-deadline-extension-as-user-verification-climbs > Updated: 2026-08-22T03:33:18.000Z. Sources: 24. Developments: 18. Pi Network’s token continues to be weighed down by a relentless unlock schedule and a series of protocol upgrades that have yet to generate sustained demand. After a brief rally in May 2026 that saw the price around $0.17, scheduled releases pushed the token back toward $0.15 and eventually below $0.13. June-July activity added ecosystem tools like PiVerify, Pi Sign-In, and SoloHost, along with a $100 million venture fund, yet the price drifted lower, breaching $0.12 support and eventually falling to approximately $0.08 by mid-July. By late July, the Core team established an August 11 deadline for the Protocol 26 Mainnet upgrade. This penultimate upgrade is designed to enhance contract security, state management, and interoperability to support existing services like PiVerify and SoloHost. Node operators failing to meet the deadline face a loss of Mainnet connectivity. In early August, the token showed signs of volatility and modest recovery. Despite a circulating supply of approximately 10.99 billion PI and ongoing pressure from token releases outpacing demand, the price rose to roughly $0.091 amid anticipation of the Protocol 26 transition and reports regarding potential RoboPay utility. While the token has outperformed broader market movements recently, trading volume saw a decline of over 17% as traders await further evidence of adoption and potential exchange listings to support higher price levels. As the August 11 deadline arrived, the token experienced heightened volatility. After climbing above $0.096 earlier in the week, the price dipped below the $0.09 support level to trade around $0.086. Consequently, the market capitalization fell below $950 million, ranking the asset as the 67th largest cryptocurrency. Regarding the technical transition, node operators who failed to complete the Protocol 26 upgrade by the deadline faced disconnection from the network until the required software was installed. ## Timeline ### 2026-08-22: Pi Network community speculates on unconfirmed catalysts Unconfirmed rumors are circulating within the Pi Network community regarding a potential September 24 Mainnet announcement, participation in Token2049, and possible integration with PayPal. 2 sources. https://clstr.news/cluster/pi-network-community-speculates-on-unconfirmed-catalysts ### 2026-08-22: Pi Network price nears $0.10 ahead of Protocol 27 upgrade Pi Network price nears $0.10 as Protocol 27 enters Testnet testing, introducing enhanced smart contract authentication ahead of a potential September 15 Mainnet upgrade. 4 sources. https://clstr.news/cluster/pi-network-price-nears-010-ahead-of-protocol-27-upgrade ### 2026-08-11: Pi Network token faces volatility amid Protocol 26 upgrade Pi Network's PI token faces price volatility near $0.086 as the project implements its Protocol 26 upgrade, requiring Mainnet node operators to update software to avoid network disconnection. 2 sources. https://clstr.news/cluster/pi-network-token-faces-volatility-amid-protocol-26-upgrade ### 2026-08-08: Pi Network price rises amid Protocol 26 upgrade anticipation Pi Network's PI token rose 2.80% to $0.0910 amid anticipation for the Protocol 26 upgrade and new utility reports, even as trading volumes declined. 4 sources. https://clstr.news/cluster/pi-network-price-rises-amid-protocol-26-upgrade-anticipation ### 2026-08-05: Pi Network price forecast 2026 as supply outpaces demand Pi Network trades near $0.08 with a $912 M market cap; recent 3.2% gain to $0.0859 highlights supply‑demand imbalance, while forecasts see prices ranging $0.10‑$3.00 by 2030. 5 sources. https://clstr.news/cluster/pi-network-price-forecast-2026-as-supply-outpaces-demand ### 2026-07-29: Pi Network sets Aug. 11 deadline for Protocol 26 Mainnet upgrade Pi Network's Protocol 26 upgrade must be completed by Aug 11 or nodes lose Mainnet access; the upgrade supports new products PiVerify, SoloHost and Pi Sign‑in, while the token trades near $0.083. 2 sources. https://clstr.news/cluster/pi-network-sets-aug-11-deadline-for-protocol-26-mainnet-upgrade ### 2026-07-26: Pi Network token price stays near $0.08 as supply overhang drowns out $1 hopes Pi Network token hovers around $0.08, trapped in a descending channel; heavy supply unlocks and limited utility keep $1 hopes unlikely. 2 sources. https://clstr.news/cluster/pi-network-token-price-stays-near-008-as-supply-overhang-drowns-out-1-hopes ### 2026-07-24: Pi Network Token Unlock Fuels Price Decline, Token Near Support Levels Pi Network price fell 3.8% to $0.083 as a 127.5 million‑token unlock over 30 days adds supply; broader crypto market also slipped, with resistance near $0.09 and support around $0.078. 4 sources. https://clstr.news/cluster/pi-network-token-unlock-fuels-price-decline-token-near-support-levels ### 2026-07-15: Pi Network token climbs after US inflation data, but daily unlocks pose risk Pi Network rose 17% to $0.082 after US CPI dip, then slipped to $0.078 despite app redesign; daily token unlocks and large supply dilution remain key risks ahead of the July 22 v25 upgrade. 2 sources. https://clstr.news/cluster/pi-network-token-climbs-after-us-inflation-data-but-daily-unlocks-pose-risk ### 2026-07-13: Pi Network token falls 15% as major unlocks push market cap below $1 billion Pi Network token slid 15% on July 13, dropping its market cap below $1 billion amid looming token unlocks and community criticism of the core team. 5 sources. https://clstr.news/cluster/pi-network-token-falls-15-as-major-unlocks-push-market-cap-below-1-billion ### 2026-06-30: Pi Network unveils PiVerify and faces token unlock pressure Pi Network launched PiVerify, Pi Sign‑In and SoloHost, but Pi coin fell to $0.1125 as July token unlocks of up to 103 million Pi threaten further price pressure. 2 sources. https://clstr.news/cluster/pi-network-unveils-piverify-and-faces-token-unlock-pressure ### 2026-06-28: Pi Network price forecast targets $0.12 support amid July token unlocks Pi Network trades near $0.128, with $0.12 support key as 103.7 M tokens unlock in July and open interest falls; Binance EU suspension tightens liquidity. 3 sources. https://clstr.news/cluster/pi-network-price-forecast-targets-012-support-amid-july-token-unlocks ### 2026-06-19: Pi Network token falls below $0.13 as 127.5 million PI unlocks approach Pi Network’s price fell below $0.13 to a new low near $0.119 as sellers dominate and a 127.5 million‑PI unlock looms, while net exchange outflows and wider crypto weakness add pressure. 4 sources. https://clstr.news/cluster/pi-network-token-falls-below-013-as-1275-million-pi-unlocks-approach ### 2026-06-19: Pi Network node upgrade drives 9% PI token surge and launches app‑staking feature Pi Network’s Protocol v25 upgrade lifted PI token 9% to $0.14, while a new staking feature lets users boost app visibility in the ecosystem directory. 2 sources. https://clstr.news/cluster/pi-network-node-upgrade-drives-9-pi-token-surge-and-launches-appstaking-feature ### 2026-06-12: Pi Network's $100M Venture Fund Stays Opaque While Launchpad Overhaul Seeks Token Revival Pi Network's $100 M venture fund remains largely undisclosed as its 2026 Launchpad upgrade targets real utility for the PI token, which has fallen from $2.99 to about $0.13. 2 sources. https://clstr.news/cluster/pi-networks-100m-venture-fund-stays-opaque-while-launchpad-overhaul-seeks-token-revival ### 2026-05-19: Pi Network token unlocks drive price below $0.15 Pi Network price slips toward $0.15 as a 195 M token unlock and weak liquidity pressure the market. 3 sources. https://clstr.news/cluster/pi-network-token-unlocks-drive-price-below-015 ### 2026-05-16: Pi Network pushes Protocol 23.0 migration deadline to May 19, 2026 Pi Network extends its Protocol 23.0 migration deadline to May 19, adding node‑performance upgrades and new AI‑app tools. 2 sources. https://clstr.news/cluster/pi-network-pushes-protocol-230-migration-deadline-to-may-19-2026 ### 2026-05-12: Pi Network Passes 18.1 M KYC Checks While Migration Backlog Persists and Token Stalls Near $0.17 Pi Network tops 18.1 M KYC checks, but a 1.4 M‑user migration backlog and weak $0.17 token price raise concerns. 3 sources. https://clstr.news/cluster/pi-network-passes-181-m-kyc-checks-while-migration-backlog-persists-and-token-stalls-near-017 --- Cite as: Pi Network token volatility continues amid protocol upgrades. CLSTR, https://clstr.news/situations/pi-network-faces-migration-backlog-and-deadline-extension-as-user-verification-climbs