Pi Coin (PI) is showing strength ahead of the Pi Network's 'Protocol27' upgrade and the launch of its own decentralized exchange (DEX). According to CoinMarketCap, Pi Coin was trading around $0.09489 as of September 4, Korea time, up more than 1% from the previous day.

【Market Sentiment】 According to overseas crypto media outlet CoinGape, Bitcoin rose 5% over the same period to exceed $81,200, while Ethereum broke through $2,500. Ripple (XRP) also climbed 10% on the back of the crypto market recovery. However, Pi Network's gains were relatively smaller.

CoinGape reported that investors remain cautious ahead of the Protocol27 upgrade, expected on September 15 (local time). The launch could test whether KYC-verified Pi Network users can generate genuinely meaningful activity.

【Protocol27, the Last Planned Infrastructure Upgrade】 According to CoinGape, Pi Network completed its Protocol26 mainnet upgrade on August 11 (local time), strengthening smart contract security, state management, and cryptographic functions. This upgrade followed nine essential upgrades carried out since the open mainnet launched in February 2025. After Protocol26 was applied, Pi Network reported 421,000 active nodes.

Protocol27 began deployment on Testnet1 on August 21 (local time), and developers are targeting a mainnet launch on September 15 (local time), CoinGape reported. Pi Network describes Protocol27 as the last currently planned infrastructure upgrade. According to CoinGape, the upgrade will introduce automated market maker (AMM) pools and smart contract verification functions, and will also include RPC server infrastructure supporting applications and decentralized trading.

【Ecosystem Status: OpenPay, App Studio, KYC】 CoinGape reported that OpenPay reached the mainnet on August 27 (local time) and restored cash deposit functionality on September 1 (local time). More than 7,900 AI-created applications are registered on App Studio. Pi Network reports 17.7 million Pioneers who have completed KYC verification.

【DEX, the Biggest Commercial Test】 According to CoinGape, the exchange Pi Network is preparing will combine order book and automated market maker liquidity. This method was tested through the SLICE token launch. From June 11 to 28 (local time), approximately 242,000 Pioneers committed 15.92 million test Pi.

CoinGape noted that while this participation demonstrated user interest, test tokens carry no direct market risk. Accordingly, actual activity on the mainnet could serve as a stronger indicator of demand. CoinGape also predicted that the DEX will show whether verified users actually buy and sell assets and ecosystem tokens.

The analysis suggests that if trading volume remains steady, it could lend weight to Pi Network's claims of practical utility. Conversely, if participation is weak, it would show that a large number of registered users alone does not create vibrant economic activity, CoinGape said. This is described as an important distinction for how Pi Network is viewed going forward.

Since Pi2Day in June, Pi Network has emphasized payments, identity, computing, and artificial intelligence. CoinGape assessed the DEX as the biggest commercial test among these.

【Price Outlook: Whether It Breaks $0.1 Is Key】 CoinGape analyzed that Pi Network's price is approaching the $0.1 resistance level where past rallies were blocked. More broadly, a resistance zone has formed in the $0.10 to $0.11 range. The Relative Strength Index (RSI) stood at 74.22, indicating an overbought condition. However, CoinGape reported that the Moving Average Convergence Divergence (MACD) still supports the possibility of further price gains.

According to CoinGape's Pi Coin price analysis, a decisive move above $0.1 could lead to movement toward $0.11. If the uptrend continues, price movement could extend to the next resistance level around $0.12.

On the other hand, CoinGape analyzed that if the coin fails to break through $0.1, the price could return to a range-bound phase. It identified the first support level around $0.095, aligned with the bottom of recent price action. CoinGape also projected that if the decline continues below $0.095, $0.09 could once again come into focus.

CoinGape added that while expectations for Protocol27 could positively influence market sentiment, Pi's future price movements may depend on the results of actual implementation.

[This article is by no means investment advice. The content may merely reflect opinions, so please do not use it as a reference or resource for investment. All investments are made at the individual's own discretion, and the final responsibility lies with the investor. This publication bears no responsibility whatsoever.]