Pi Network Price Gains as KYC Upgrade Unlocks Nearly 1 Million Users

Pi Network (PI) price gained 1.75% on September 18, trading near $0.084 as major KYC and mainnet migration improvements restored access for nearly one million users. The upgrades arrive shortly after Pi Network completed its v27 protocol upgrade.

Pi Network said it resolved problems involving duplicate KYC accounts and users who created mainnet wallets through its Fast-Track process. Improvements to its duplicate-account detection system will allow more than 417,000 users who were incorrectly flagged for possible duplication to continue the KYC verification process.

Another 497,000 users who obtained mainnet wallets through Fast-Track but could not access their migration balances are also expected to benefit from the latest mainnet migration update. Combined, the changes remove barriers for more than 900,000 Pi Network users.

Derivatives activity has also increased sharply. According to Coinalyze data cited in the report, Pi Coin open interest climbed from $23.77 million on September 16 to $36.49 million, reaching its highest level since July 2026.

However, funding rates have remained negative for three consecutive days, indicating that much of the increase in open interest may be driven by traders building short positions. Heavy short positioning could create conditions for a short squeeze if PI price continues rising and forces bearish traders to close positions by buying the token.

Despite the latest rebound, Pi Network price remains below its 20-day and 50-day exponential moving averages and other important EMA levels, keeping the broader technical outlook under pressure.

PI is currently testing resistance around $0.085, corresponding to the 38.2% Fibonacci retracement level. A sustained breakout above this area could strengthen bullish momentum and put the psychological $0.10 level in focus.

However, the Relative Strength Index remains weak at around 38, suggesting bearish momentum has not disappeared. If PI fails to break and close above $0.085, selling pressure could return and push Pi Network price toward the 23.6% Fibonacci level near $0.079.