The Core Team of the Pi Network has set a deadline for a significant upgrade, which is expected to occur within the next week. Despite this announcement, the PI token continues to decline, having fallen over 3% in the last day and recording a weekly drop of over 13%.

Upcoming Upgrade Deadline

The updates for the Pi Network started in late February with the migration to version 19.6. This was followed by an update to version 19.9 in early March. The highly anticipated version 20.2, which introduced smart contract functionality for the blockchain, was successfully implemented by Pi Day (March 14). Following the Pi Day upgrade, the team aimed to implement move to protocol 21. However, no specific timeline was provided initially, leading to community skepticism.

In a recent update, the team announced that they are in the process of transitioning to protocol 21, with a deadline of April 6. All Mainnet nodes must complete this step to stay connected to the network.

“The Pi Mainnet is upgrading to Protocol 21 – Deadline: Apr 6. All Mainnet nodes are required to complete this step before the deadline to remain connected to the network. Details here: source”
— Pi Network (@PiCoreTeam) March 27, 2026

PI Token Still Declining

Amid these critical updates and the recent listing of the PI token on the Kraken exchange, the token initially surged following the announcement but has now dropped to under $0.20. Following a recent 3% decline, the token is trading below $0.175, marking a significant weekly loss of 13%.

Data from PiScan indicates an increase in daily PI token unlocks, raising concerns about potential selling pressure on the market.