Pi Network launches Protocol 28 amid price decline

6.6 Markets

7 oct, 2026

Pi Network launches Protocol 28 on October 16, bringing technical upgrades. Despite increased social interest, the PI token trades 97% below its all-time high.

Pi Network is experiencing a continued decline, with the PI token dropping over 4% to trade near $0.0824—about 97% below its all-time high. Despite this price weakness, there has been a noticeable increase in social media interest surrounding the project. The network is set to activate Protocol 28 on October 16, following a required node migration that must be completed by October 13. This update, already tested on the testnet, brings several enhancements, including a voting mechanism for delayed transactions, improved smart contract management, and greater control over application data. Migration-related interruptions are expected to be brief, lasting no more than five minutes per node. While Pi Network is making technical strides, the persistent low token price highlights the ongoing disconnect between development progress and market confidence.