Pi Network’s PI token continued to trade lower in late October 2026, hovering near or below $0.08 (reports placed it around $0.075–$0.079). The decline persisted even after two recent technical upgrades: Protocol 28, activated on Mainnet around October 16 (following a node-operator deadline of October 13), and a Desktop 0.6.4 release that simplified SoloHost access. Protocol 28 improves delayed transaction-data handling and enables batch smart-contract updates; earlier protocol work had already added smart-contract support.
Sellers have retained control, with thin trading volume, ongoing token unlocks, and limited evidence of strong new demand or major exchange listings. The price remains far below its earlier highs, and the slide began before the latest upgrade fully took effect. An upcoming Ecosystem Summit (November 17–19) is scheduled but has not yet altered the market picture.
The Drivers of the Current Situation
The main pressure is persistent selling amid weak demand, despite infrastructure progress. Confirmed elements include the Protocol 28 Mainnet transition, the Desktop update, price action below $0.08, thin volume, and the absence of a clear demand catalyst from the upgrades. Broader supply dynamics and lack of major listings provide additional context.
Price reaction to the Ecosystem Summit or measurable app usage will help determine whether technical progress eventually supports the token.
Impact and Broader Context
The continued slide highlights the gap between network development and market confidence. It raises questions about whether protocol improvements alone can overcome supply pressure and thin liquidity, and about the timeline for real utility to appear in price. Coverage stresses that the upgrades are largely “plumbing” for developers rather than immediate demand drivers.
Further adoption metrics, volume changes, or summit announcements will shape the next phase.
This analysis draws from project upgrade notices, price reports, and contemporaneous coverage. Exact daily closes, full node-upgrade completion status, and any future demand shifts remain subject to further data.