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Pi Network pushes token utility amid weak price and recent Protocol 23 upgrade

Protocol Fundamentals
22 May 2026
Crypto news
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Neutral
pluang ai news

Pi Network is focusing on linking its token design with real product use to boost user engagement and long-term utility, following the recent Protocol 23 upgrade that introduced smart contract functionality. Despite these efforts, the PI token price remains weak, trading near $0.153 and down over 10% in the past week, with bearish technical signals and a significant decline from its all-time high. Founder Chengdiao Fan emphasized at Consensus 2026 the importance of aligning token utility with real product innovation, aiming to support verified users and genuine product feedback rather than mere speculation. The project's future depends on successful execution of these utility goals and stronger market demand to break key resistance levels above $0.17.

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