The price of the Pi network remains under pressure as traders balance recent declines with upcoming network updates and the overall momentum of the cryptocurrency market. The coin's price fluctuated around $0.178 after failing to hold above a key resistance level.

Pi's price previously rose to about $0.20 following confirmation of Protocol 22 upgrade, which was the highest monthly level ever, before sellers intervened.

The near-complete rejection around $0.20 appears to be linked to increased selling activity, partly resulting from the recent token unlock event. What is the next step for Pi Coin before the Protocol 23 launch on May 11?
The Pi Network Core team announced the implementation of Protocol 23, a major upgrade to the mainnet that will require all node operators to transition by May 15. This upgrade will introduce native smart contract functions, potentially expanding the ecosystem through decentralized applications and real-world use cases.