Key Insights:
- Analysts spot a bullish chart structure for Pi Coin price along with a short-term price target of $0.10.
- Community sentiment toward Pi Network remains strongly positive, with 89.5% bullish outlook.
- The upcoming Protocol v26 upgrade is expected to enhance smart contract security and more. GGB
Pi Network’s native cryptocurrency Pi Coin has surged by 6% in the last 24 hours, in a strong recovery move ahead of the Protocol 26 upgrade on August 11.
The short-term prospects for the Pi token seem to be bullish as per market experts. Moreover, the community sentiment is overall bullish about the Pi token price recovery.
Pi Coin Price Chat Hints at Bottom Formation
Popular crypto analyst Kim H. Wong outlined several near-term bullish factors for Pi Coin. He cited the upcoming Pi Network upgrades, improving market sentiment, as well as a constructive technical setup.
According to the analyst, the Pi Core Team has set August 11, 2026, as the deadline for Mainnet node operators to upgrade to Protocol 26. The next planned upgrade, Protocol 27, is expected to make the network fully open and interoperable.
Moreover, Wong also noted that from a technical perspective, Pi Coin price chart has formed a bottoming pattern and a breakout structure. The analyst has identified $0.10 as the short-term price target.
In the last 24 hours, the Pi Coin price is up 5.7% $0.08563. Crypto market investors look to take the altcoin past the $1 billion mark.
Pi Coin Bullish Sentiment Soars Before Pi Network Upgrade
Pi Network (PI) has secured among the top spots in CoinMarketCap’s bullish community sentiment rankings. This shows strong optimism among crypto investors despite recent price weakness.
According to the rankings, 89.5% of users remain bullish on Pi Coin, reflecting continued confidence in the project’s long-term prospects. The strong sentiment comes even as Pi Network’s native token has experienced recent price declines. It shows that the community support for the ecosystem remains resilient.
Pi Network has reminded Mainnet node operators to upgrade to Protocol v26 by August 11 to remain connected to the network. The network said Protocol v26 represents a major milestone. It introduces improvements in smart contract safety, state management, interoperability, and cryptographic capabilities.
According to the announcement, the upgrade is a key step ahead of the planned rollout of Protocol v27. It will be among the network’s major final protocol upgrades.
Pi Network Team Needs to Look After Long Term Funding
Despite the recent optimism, analyst Dr. Altcoin said that he remains cautiously optimistic about Pi Network. He believes that the project could actually gain meaningful value from 2030 as blockchain, AI, and robotics gain mainstream adoption.
However, the analyst expressed concern over Pi Coin trading below $0.10 and the project’s market capitalization falling below $1 billion.
He said that if estimates of $10 million in annual operating costs are accurate, the Pi Core Team would need to sell roughly 10.4 million Pi tokens per month. That will cover expenses if the token trades at $0.08. If the Pi Coin price falls to $0.04, that figure would increase to approximately 20.8 million tokens per month.
Dr. Altcoin added that a strong vision alone is insufficient for long-term success, citing Ice Open Network as an example. He said blockchain projects must execute efficiently, deliver products on schedule, and establish sustainable revenue streams.
The post Pi Coin Price May See Short-Term Rally Before Pi Network Upgrade appeared first on The Market Periodical.