Pi Network’s Big Upgrade: Will It Save the Day or Just Make Things Worse? 🤔

by

Gather ’round, dear reader, and listen to the tale of Pi Network – the blockchain silly-cone that’s about to get a giant facelift. They’re upgrading from protocol version 19 to shiny new version 23, shimmery like a diamond in a pigsty. Built on Stellar protocol 23, this whizz-bang upgrade promises layers of fancy features and more control than a puppet with too many strings. But alas, the market’s enthusiasm remains about as lively as a sleepy sloth in a hammock. 🦥

Stellar-Based Protocol 23 Joins the Pi Party, But Nobody’s Cheering 🎉🤷‍♂️

After braving the wilds of launching a Linux Node, Pi’s brave explorers are marching from version 19 to 23, a bit like crawling out of a box and into a shiny new toy shop. According to a message from August 27, the upgrade is coming in phases, starting with Testnet1 – which has already begun, much to everyone’s indifference. Next comes Testnet2, then the Mainnet, until the whole Pi kingdom is dancing to the stellar tune of version 23. Good luck, brave miners! 🛠️

But hold onto your hats, folks, because despite all the blinking lights and fancy upgrades, Pi’s market performance is as dull as dishwater. At the moment, the coin is lounging at a teeny-tiny $0.34, snuggling below its 20-day exponential moving average (EMA), which acts like a snooty gatekeeper at $0.36, blocking the way like a grumpy bouncer. 🙄

This 20-day EMA, a bit like a magic mirror, measures how the coin has been doing recently. When prices dance above it, everyone cheers and says, “Yay! Bullish times are here!” But when they dip below, it’s more like a sad trombone, with sellers taking over and the market feeling as weak as a kitten on a cold day. 🐱

And if that wasn’t enough, the Chaikin Money Flow (CMF) is whispering, “Don’t get your hopes up!” Right now, it’s below zero at -0.11, a clear sign that all those folks selling are more numerous than the buyers at a candy shop on Halloween. 🍬

This negative CMF means money’s flowing out faster than a leaky bucket, and the market’s feeling about as optimistic as a cat in a swimming pool. Not much bullish conviction here, folks! 🐱💦

The Pessimistic Prediction: Will Pi Hit Rock Bottom? 🪨

If things stay gloomy (which they do), Pi might just nose-dive back to its embarrassing all-time low of $0.32, touching bottom like a bored dolphin. A slip past that could see the coin slipping into uncharted, and perhaps unfortunate, depths. 🌊

On the flip side, if someone, somewhere, suddenly decides to buy more Pi than a bakery on a Sunday, it might just push its price back above $0.36. With a bit of luck and a sprinkle of demand, it could even climb up to $0.40, if it dares! 🚀

Read More

2025-09-03 00:32