Pi Network price traded near $0.0917 on August 29, gaining approximately 0.4% over 24 hours amid broader cryptocurrency market weakness. Daily trading volume fell roughly 20% to $5.40 million, indicating subdued participation despite the price movement.
The price action coincides with anticipation for Protocol 27, targeted for mainnet deployment on September 15. The upgrade introduces more flexible and secure smart contract authentication capabilities, enabling accounts and decentralized applications to approve actions with tighter controls.
Protocol 27 Development Status
Protocol 27 has completed testnet rollout following the successful Protocol 26 upgrade on Pi Mainnet. Recent testnet activity includes escrow functions through the BNPi booking app, as well as decentralized exchange and automated market maker pool testing. In July, 242,000 users committed 15.92 million Test-Pi for 10 million SLICE test tokens using a constant-product swap formula.
Pi Desktop has also expanded its utility with Node version 0.6.2, which added OpenClaw and an Atlassian MCP Server to SoloHost. However, testnet activity does not yet establish mainnet demand, and the protocol requires active user adoption to translate infrastructure improvements into transaction volume and liquidity.
Technical Price Levels
The 50-day moving average at $0.0951 represents immediate resistance. A daily close above this level could test $0.10, with the next supply area near $0.11. Near-term support sits between $0.087 and $0.088, with deeper support at $0.085 and a broader base near $0.075.
Momentum indicators show mixed signals. The four-hour relative strength index stood near 44, below its neutral midpoint, while MACD trailed its signal line, suggesting upward momentum is fading despite both lines remaining above zero.
Volume and Supply Concerns
Pi Network's market capitalization sits near $1.02 billion with 11 billion circulating tokens. The low trading volume of $5.40 million can amplify short-term price swings and limits the durability of price moves. Continuing token unlocks present an additional headwind, as new supply can absorb buying interest when spot trading remains thin.
Price confirmation above current levels will likely require stronger trading volume and continued support above $0.09.
