Pi Network rose 6.37% over 24 hours to $0.0837, while the broader crypto market stayed nearly flat. Bitcoin slipped 0.11%, and total market value also edged lower during the same period. The move placed PI among the strongest performers on July 30. Trading activity and thin liquidity appeared to drive most of the move.
Pi Network recorded $13.68 million in daily trading volume after activity increased 27.44%. Its turnover ratio stood at only 1.49%, showing limited market depth.
Such conditions can magnify modest buying pressure. Fewer sell orders can allow relatively small purchases to move prices quickly. The same structure can also speed up declines when demand fades.
PI moved from recent lows near $0.078 and briefly approached the $0.085 area. The rise developed while Bitcoin and the wider crypto market traded unevenly.
No strong social trend, exchange announcement or on-chain event appeared according to data. Therefore, the rebound looked mainly linked to order flow. Traders now watch whether volume can stay above recent levels. A sharp decline in activity could weaken the move and return PI toward earlier support zones.
Meanwhile, Pi Network is preparing for its Protocol 26 upgrade. Mainnet node operators must complete the update by August 11 to maintain network access.
The Core Team described Protocol 26 as part of its final upgrade sequence. Protocol 27 will follow and complete the current rollout plan. The team said, “With eight successful upgrades completed over the past few months, these final two upgrades will update the network.”
The announcement gave traders a clear date to monitor. Still, the available data did not confirm that the upgrade alone caused the rally. Protocol 26 follows Protocol 25, which went live on July 25. The coming update aims to add newer protocol features and improve network functions.
PI also tested the upper area of a rising parallel channel near $0.084. A close above $0.085 could support another move toward $0.10. However, the outlook depends on sustained demand. A brief upgrade-related trade could fade if volume returns to earlier levels.
Notably, $0.080 remains the main short-term support level. PI could retest $0.085 if buyers continue defending that area. A firm move above $0.085 would give the recovery more structure. The next widely watched level sits near $0.10, last reached on July 20.
On the other hand, a close below $0.080 could weaken the current setup. The price may then fall toward $0.075 or the lower Bollinger Band near $0.074. August token unlocks add another factor. PiScan data shows that about 128 million PI tokens may enter circulation during the month.
Those tokens carry an estimated value near $10 million at current prices. Additional supply may pressure the market if demand stays limited. July also brought about 103 million PI tokens into circulation. PI later touched a record low near $0.070 on July 14.
For now, PI holds a cautiously positive short-term structure above $0.080. Volume, the Protocol 26 deadline, and August unlocks will guide the next move. Market depth remains the central test for buyers.
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