Pi Network’s native token PI posted a 6.37% gain over the past 24 hours, reaching $0.0837, while the broader cryptocurrency market remained mostly flat. Bitcoin slipped 0.11%, and total market capitalization edged lower during the same period. The move placed PI among the strongest performers on July 30, driven primarily by low liquidity and heightened trading activity.
Low Liquidity Amplifies PI Price Movement
Pi Network recorded $13.68 million in daily trading volume, a 27.44% increase from the previous day. However, its turnover ratio stood at only 1.49%, indicating shallow market depth. Such conditions allow modest buying pressure to push prices higher when sell orders are limited. Conversely, the same lack of depth can accelerate declines if demand fades.
PI moved from recent lows near $0.078 and briefly approached the $0.085 area. The rally occurred while Bitcoin and the wider crypto market traded unevenly, suggesting the move was not driven by sector-wide sentiment. No prominent social media trends, exchange announcements, or on-chain events were detected, according to available data. The rebound appears primarily linked to order flow dynamics.
Traders are now watching whether volume can sustain above recent levels. A sharp drop in activity could weaken the rally and push PI back toward earlier support zones.
Protocol 26 Upgrade Deadline Draws Attention
Pi Network is preparing for its Protocol 26 upgrade, with a deadline of August 11 for Mainnet node operators to complete the update and maintain network access. The Core Team described Protocol 26 as part of the final upgrade sequence, with Protocol 27 to follow and complete the current rollout plan. The team stated, “With eight successful upgrades completed over the past few months, these final two upgrades will update the network.”
Protocol 26 follows Protocol 25, which went live on July 25. The upcoming update aims to introduce new protocol features and improve network functions. The announcement gave traders a clear date to monitor, though the available data does not confirm that the upgrade alone caused the rally.
PI also tested the upper boundary of a rising parallel channel near $0.084. A close above $0.085 could support another move toward $0.10. However, the outlook depends on sustained demand. A brief upgrade-related trade could fade if volume returns to previous levels.
Support Levels and August Token Unlocks
The $0.080 level remains the primary short-term support. If buyers continue to defend that area, PI could retest $0.085. A decisive move above $0.085 would give the recovery more structure. The next widely watched level is near $0.10, last reached on July 20.
On the downside, a close below $0.080 could weaken the current setup. The price may then fall toward $0.075 or the lower Bollinger Band near $0.074. August token unlocks add another factor. PiScan data shows that approximately 128 million PI tokens may enter circulation during the month, carrying an estimated value of around $10 million at current prices. Additional supply may pressure the market if demand remains limited. July saw about 103 million PI tokens enter circulation, after which PI touched a record low near $0.070 on July 14.
For now, PI holds a cautiously positive short-term structure above $0.080. Volume, the Protocol 26 deadline, and August unlocks will guide the next move. Market depth remains the central test for buyers.