Dogecoin Mirrors Previous Mega Bull Trend — Is Another Parabolic Rally Next?
Is Dogecoin set for another parabolic rally after reclaiming support?
NewsBTC1 min read
News
Another Pi Network Sell-the-News Moment as PI Plunges Hard Again?
TL;DR
The Pi Network's native token, PI, has seen a significant decline despite recent protocol updates and co-founders' appearances at a major cryptocurrency conference. This trend reflects a classic sell-the-news phenomenon.
Key points
- Pi Network's token PI has declined sharply.
- Recent updates and co-founders' appearances did not prevent the drop.
- Version 23 of the protocol is due by May 15.
Mentioned in this story
Pi Network
PI
Despite the ongoing protocol updates and major high-profile appearances from the project’s co-founders at one of the most influential cryptocurrency conferences for the year, the native token experienced another painful rejection in the past 24 hours.
This behavior continues to raise questions about its overall state, as this is yet another classic sell-the-news moment.
PI’s Decline
Recall that the Pi Network protocol updates began in late February with the introduction of version 19.6. Since then, the new versions have been deployed almost like clockwork, and the latest was announced at the start of the month – v22. Moreover, the team set a deadline for the implementation of the next one in its roadmap – v23, which should be completed by May 15.
In addition, they continue to publish different posts about other aspects of the overall ecosystem, such as the completion of more than 520 million tasks from a million verified users by combining human input with AI.
Perhaps even more notable was the feature of the two project co-founders, Dr. Chengdiao Fan and Nicolas Kokkalis, at the 2026 Consensus conference in Miami. As reported yesterday, Dr. Fan took the Convergence Stage to talk about how users can align web3, AI, and blockchain for utility. She also distinguished Pi Network from other cryptocurrency projects mainly in the token usage regard.
Yet, none of those developments has managed to produce a long-lasting positive impact on the native token. PI is deep in the red today, slumping to $0.166 minutes ago. This means that the asset has plunged by over 11% since its local peak at $0.188 marked on May 6.
Q&A
What caused the recent decline in the Pi Network's PI token?
The decline is attributed to a sell-the-news reaction following protocol updates and high-profile appearances by the co-founders.
When is the next major update for the Pi Network scheduled?
The next major update, version 23, is scheduled for completion by May 15.
How many tasks have been completed by Pi Network users?
Over 520 million tasks have been completed by more than one million verified users.
