Pi Network's PI surges ahead of mainnet upgrade

Pi Network's PI token jumped up to 12% before the February 15 mainnet upgrade, outperforming top cryptocurrencies. The surge is driven by upgrade anticipation, but traders remain cautious.

Pi Network's PI token has seen a significant price rebound ahead of the February 15 mainnet node upgrade deadline. In the past 24 hours, PI surged between 4% and 12%, outperforming major cryptocurrencies like Bitcoin and Ethereum, which experienced losses during the same period. The rally follows the Pi Core Team's announcement of a mandatory node upgrade designed to enhance network performance, security, and scalability. Over 16 million users have already transitioned to the mainnet, highlighting strong community engagement and support for the upgrade. Technical analysis shows PI breaking out from a descending trendline and broadening wedge, with $0.20 identified as the next resistance level. Despite recent gains, PI remains well below its all-time high and has faced steep declines in recent months. Traders are split on whether this momentum signals a true recovery or is simply a short-term reaction to the upgrade news. The upcoming deadline is viewed as a crucial catalyst for the ecosystem's future direction.