diff --git a/CHANGELOG b/CHANGELOG
index 1a4b367e474b62dba520bd294e30152555e01f90..a3b7a238f51f4fa104ebb0ec1d610f31def050cd 100644
--- a/CHANGELOG
+++ b/CHANGELOG
@@ -1,5 +1,7 @@
 Please view this file on the master branch, on stable branches it's out of date.
 
+v 8.8.0 (unreleased)
+
 v 8.7.0 (unreleased)
   - Transactions for /internal/allowed now have an "action" tag set
   - Method instrumentation now uses Module#prepend instead of aliasing methods
diff --git a/VERSION b/VERSION
index 91ab1f99daf48de9fb27d5b76b81571cf2ec2ff4..d5a967c393326859dd7cc33c619e2da19a26bbc8 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-8.7.0-pre
+8.8.0-pre