Pi Coin Gains 11 Percent Following Major Price Dip

Pi coin has climbed 11.3 percent in the past 24 hours. This bounce comes after the asset fell to an all time low of 0.07 dollars on July 14. Despite the recent positive momentum, the coin remains down over 30 percent for the month and is trading nearly 97 percent below its historical peak of 2.99 dollars.

Investors appear to be buying the dip following a sharp drop caused by a recent 130 million token unlock. Increased supply often creates downward pressure on prices, which worried many holders. However, sentiment has shifted slightly as the community looks toward the upcoming protocol upgrade.

The project team announced that version 25 of the protocol will arrive on July 22. This update aims to improve network stability and support new smart contract features. Some traders believe this technical progress is helping the price recover, though others note that Pi is likely just moving in sync with the broader crypto market which saw Bitcoin reclaim 64,000 dollars.

Looking ahead, sustaining this rally might be difficult. With investors remaining cautious in the current market, Pi could face further selling pressure or settle into a period of sideways trading. Traders should keep a close eye on how the network performs after the scheduled upgrade.