Pi Network Token Jumps 6% Amid Upgrade Rumors

The native token of Pi Network — $PI — shot up by almost 6 percent, peaking briefly at $0.25, off the news of increased speculation over a huge network upgrade that is anticipated on November 28. The rally also helped the project to regain a market value of 2 billion dollars which indicated the restored confidence in the investors in the social media and trading platforms.

Upgrade Studio New Premise Rumors

What many consider a landmark move towards the ecosystem has been the buzz among the Pi community of what they could possibly be the public trading release of Pi Network or a significant technical release that would meet the EU requirements of MiCA compliance. According to some reports, such platforms as OKX could be opened, which allows reaching more than 450 million users. Although the project has not officially verified the extent of the upgrade, the anticipation by the community has been significant to inspire intense speculative purchasing.

Hype in the Community Counters Market Unpredictability

The surge in prices is in line with the typical altcoin behavior when there are rumors. The November 28 buzz was met with swift reaction by the traders and the price rose before falling back to the level of approximately $0.23. As observed by analysts, the token is particularly prone to hype cycles because Pi has a huge user base more than 60 million mobile miners.

Analysts Divided on Price Prospectus

Disagreement exists on the short-term trend of the crypto analysts with respect to $PI. There are some bullish models that show a potential rise above 0.50 in case the upgrade will verify the existence of the public trading or onboarding to the major exchanges. Bearish outlooks, however, caution that the token may fall down to the range of $0.02-0.10 in case there is a failure in the expectations. In any case, the present price movement speaks of the potential of Pi Network to attract the interest of the market despite the ambiguity about its roadmap.