Pi Network rallies ~50% on Stellar upgrade, rising volume and potential Kraken listing
Pi Network’s native token PI has gained roughly 50% from February lows, outperforming major coins after jumping toward $0.19. The rally follows a sequence of technical and fundamental drivers: an in-progress protocol upgrade (developers migrating the network’s consensus layer from Stellar v19 to v22, with node software deadlines around Feb. 15) intended to increase decentralization; a surge in on-chain demand and 24-hour trading volume (reported above $52m, well above recent averages); and the approach of Pi mainnet’s first anniversary, which has heightened investor attention. Market-moving operational news also included an official update about mainnet node infrastructure improvements and a slowdown in scheduled token unlocks after a one-off large release, lowering near-term sell pressure. Speculation about exchange listings—Kraken added Pi to its roadmap and past pursuit of Binance listing—fueled additional buying interest. Technicals showed PI bottoming near $0.13, breaking resistance around $0.1522, forming bullish patterns and moving above the 50-day EMA; near-term technical targets cited are $0.2166 and $0.25, though analysts caution the rebound could be a dead-cat bounce. Broader crypto market strength after softer US CPI also provided tailwinds. For traders: heightened volume improves liquidity but watch token unlock schedules, exchange listing timelines, and whether price action sustains above key support (around $0.152) before sizing positions; consider tight risk controls as the rally could unwind if upgrades or listings disappoint.
Bullish
The combined news points to a bullish price impact for PI in both the short and medium term, though risks remain. Positive catalysts include a protocol upgrade that aims to improve decentralization (which can boost investor confidence), a meaningful surge in 24-hour trading volume that increases liquidity, and renewed exchange-listing speculation after Kraken added Pi to its roadmap. Operational updates about node infrastructure and a forthcoming slowdown in daily token unlocks reduce immediate sell pressure. Technical breakout above resistance (~$0.152) and formation of bullish patterns support further upside toward cited targets ($0.2166–$0.25). However, the outlook is conditional: the rally could reverse if the Stellar migration faces setbacks, listings are delayed/cancelled, or broader market risk-off returns. Short-term traders may find momentum-based entries attractive given volume and technicals, but should use tight stops due to remaining unlocking schedules and speculative nature of listing rumors. Long-term investors should watch whether fundamental on-chain activity and decentralization improvements are sustained post-upgrade before increasing exposure.