Pi Network is having a rough time right now, between scam accusations flying around and a pretty ugly price drop, it’s been a tough few days for the project. Here’s what’s going on.
Crypto researcher Justin Bons didn’t hold back. He came out swinging against Pi Network, saying the whole thing is basically built on MLM-style mining with a small group of insiders calling the shots. His comments spread fast across crypto Twitter and Reddit, and needless to say, it didn’t do the project any favors reputation-wise.
Just when the Pi Coin price looked like it was gaining some momentum after hitting a three-month high, it gave it all back. We’re talking a 10% drop. A mix of profit-taking and general market panic sent the token sliding, wiping out a big chunk of those recent gains pretty quickly.
On the technical side of things, Pi Network is gearing up for a Protocol v23 upgrade deadline that’s set for March 12, 2026. They’re urging all node operators for the mainnet to get it done before the deadline, or else they’ll be severed from the blockchain altogether. So, node operators, don’t procrastinate now.
Pi released a deep-dive case study into the recent proof-of-concept project for a new Pi Node utility that supports decentralized AI training and computing tasks for third-parties using the spare computing capacity of over 421,000 Pi Nodes. In collaboration with OpenMind, a…
— Pi Network (@PiCoreTeam) March 6, 2026
What you'll learn 👉
Network Upgrade and AI Plans
Earlier this month, the Pi Core Team announced that a new series of protocol updates has commenced. The update involves node operators installing the latest version of the network to ensure they can remain connected to the mainnet by March 12.
The team also shared a case study tied to a new project involving distributed AI computing. The experiment explored how Pi nodes could use spare computing power to handle AI-related tasks.
The updates were conducted in collaboration with OpenMind, a robotics company backed by Pi Network Ventures. The test was conducted to ensure that Pi nodes could process certain AI tasks and return results promptly. The project forms part of a wider plan to connect the network to future AI infrastructure.
Protocol upgrades in progress (Step 3 – Deadline: March 12): The Pi Mainnet blockchain protocol continues to undergo a series of upgrades. All Mainnet Nodes are required to complete this step before the deadline to remain connected to the network. Details here:…
— Pi Network (@PiCoreTeam) March 5, 2026
Pi Price Jumps Ahead of Pi Day
Despite the criticism and price volatility, the token has posted a strong move over the past week.
Crypto analyst Dr. Altcoin highlighted that the price of the Pi Coin cryptocurrency rose from $0.166 to $0.238 in the last seven days.
This represents a gain of more than 40%. This comes as the traders started to focus on the celebrations for Pi Day. This is observed annually on the 14th of March.
According to the crypto analyst, the price of the Pi Coin cryptocurrency could increase to $0.50 before the 14th of March, given the strong activity in the markets.
He emphasized that there are a number of factors that could contribute to an increase in the price. This includes the celebration of Pi Day, the rise in the number of trades, and the possibility of new announcements.
2/2 — Pi could move toward ~$0.50 by March 14 if momentum continues.
— Dr Altcoin ✝️ (@Dr_Picoin) March 9, 2026
Key drivers:
🔹 Pi Day speculation
🔹 Strong price momentum
🔹 Increasing trading activity
🔹 Possible PiDEX / AMM announcements. If a Kraken listing is announced around Pi Day, I expect~ $0.75.
Disclaimer:…
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Could Pi Coin Reach $0.75?
The analyst also pointed out that there was a possibility of a larger move if there was a listing in one of the major exchanges around Pi Day.
He pointed out that if there was a listing in Kraken, it could take the price of Pi Coin to $0.75, especially if it is paired with other ecosystem releases like PiDEX or even automated market makers.
For now, Pi Coin is in a volatile phase as it weighs criticism, upgrades, and speculation around Pi Day. The next days could be instrumental in determining whether the rally is sustained or not.
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