- Pi Network V23 upgrade is nearing Mainnet, boosting hopes for wider adoption.
- Pi Coin could target $0.20 if buyers reclaim key resistance levels.
Pi Network is back in focus as its long-awaited V23 upgrade enters the final phase. The update has sparked fresh optimism among traders, even as the broader crypto market remains under pressure. Pi Coin has continued to hold near the $0.15 level, with investors closely watching for confirmation of the Mainnet migration.
Pi Network’s V23 Upgrade Moves Closer to Completion
The Pi Network community has shifted its attention to the rollout of Protocol V23. The upgrade is already running on Testnet 1 and Testnet 2, while Mainnet still operates on V22 as node operators complete migration.
Developers view V23 as more than a routine update. The upgrade aims to improve network synchronization and strengthen consensus standardization. It is also expected to prepare the blockchain for programmable smart contracts.
Interest around PiRC repositories has also increased in recent weeks. Developers have been discussing tokenization tools and Oracle simulator preparations, signaling that the network could be laying the foundation for wider adoption.
Breaking: #PiNetwork 🔥🚀
V23 successfully deployed on TESTNET2.
If no bugs are found, @PiCoreTeam will move it straight to Mainnet.
Today is the deadline for the V23 upgrade.
This upgrade unlocks the door for builders waiting for programmable smart contracts inside the… pic.twitter.com/S0nIHsWdWP
— MAHIDHAR CRYPTO (@Mahidhar_Crypto) May 19, 2026
Supporters believe these developments may improve Pi’s long-term utility. However, traders remain cautious because the Mainnet transition has not yet received full confirmation.
Crypto Market Weakness Slows Pi Coin Recovery
Despite the excitement surrounding the V23 upgrade, the overall crypto market has remained weak. Bitcoin slipped below $77,000 for the first time since late April, adding pressure across digital assets.
The total crypto market capitalization dropped to $2.56 trillion, while daily trading volume climbed to $91.3 billion during the selloff. Traders linked the decline to geopolitical uncertainty and weaker investor appetite for risk.
Meanwhile, the Crypto Fear and Greed Index fell to 39, showing that investors are still careful despite signs of recovery in selected altcoins like Pi Network.
Pi Network Price Holds Near Key Support
At the time of writing, Pi Coin traded around $0.1507 after posting modest daily gains. The coin recently fell below the important $0.16 support level, which has now turned into nearby resistance.
Technical indicators continue to show weak short-term strength. The RSI stood near 32.50, placing Pi close to oversold territory. At the same time, the MACD indicator showed a slight recovery attempt, although it remained below the zero line.
If buyers manage to defend the $0.15 level, Pi could attempt another move toward $0.16. A successful breakout above that zone may open the door for a rally toward $0.17 and potentially $0.20 in the coming days.
Can Pi Coin Rally to $0.20?
The path toward $0.20 will depend heavily on confirmation of the V23 Mainnet migration. Positive updates from the Pi Core Team could improve trader confidence and attract stronger buying activity.
Still, market conditions remain a challenge. If Pi fails to hold above $0.15, bearish pressure may push the coin toward $0.1450 or even $0.14.
For now, traders are watching the V23 rollout closely. A confirmed Mainnet transition could become the catalyst that determines whether Pi Network begins a stronger recovery phase or continues moving sideways below key resistance levels.
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