Pi Network’s Protocol 22 upgrade deadline is just days away, and millions of Pi holders are hoping that Pi coin price will see a pump before the deadline.
As of now, Pi Coin (PI) is currently trading around $0.17, showing only a small gain as rising US–Iran tensions continue to hurt investor sentiment and keep trading cautious.
According to the official confirmation from Pi Network developers, all node operators must complete the mandatory upgrade to Protocol 22.1 by April 27, 2026.
Nodes that fail to transition from version 21.2 will face automatic disconnection from the network.
This is more than just a routine update. It prepares the network for the upcoming Protocol 23 upgrade in May, which is expected to introduce full smart contract functionality.
Despite the upgrade excitement, Pi Coin’s price is still under pressure due to global market weakness. Rising US–Iran tensions, especially around the Strait of Hormuz, have triggered a broader risk-off sentiment.
The situation worsened after Iran refused to resume peace talks unless the US lifts its blockade, followed by the US seizure of an Iranian-flagged cargo ship. This has added more uncertainty to the markets.
This “risk-off” environment is limiting buying activity in smaller tokens like Pi, and even Bitcoin is struggling to break above $76K.
Historically, major network upgrades have acted as short-term price catalysts for the Pi token. At the time of the second migration event on March 28 triggered a 3.8% rally, and ahead of Pi Day, the token surged nearly 15%.
With the upgrade deadline now closed, similar pre-event buying activity could return. In fact, early signs are already visible.
A large outflow of over 1.7 million PI tokens from OKX suggests that some holders are moving their coins off exchanges, often seen as a sign that they are not planning to sell anytime soon.
Any bullish rally will test Pi day’s high price of $0.22, which will set the stage for further rally.
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