PI Token Suffers -14% Drop Following Protocol Upgrade v27

The Pi Network's native token, PI, has seen a significant drop in value over the past week, falling by over -14%. The decline follows the implementation of protocol upgrade v27 on September 15, which aimed to add smart-contract authentication and lay the groundwork for automated market maker (AMM) liquidity pools, DEX functionality, and public remote procedure call (RPC) infrastructure.

The update was touted as the network's final planned step in its current roadmap, but instead of a rally, PI holders saw another hefty sell-off. The drop compounds the effects of the failed CLARITY Act vote in the US Senate, which sent Bitcoin toward $75,000 and pulled Ethereum below $2,400.

PI is currently trading at around $0.0815, with 24-hour losses of -2% and weekly losses stretching to nearly -14%. Analysts are predicting a choppy period for PI as the market digests token unlocks and profit-taking.