diff --git a/CHANGELOG.md b/CHANGELOG.md
index 7da917d7..9be04ee8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,9 +5,14 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](http://keepachangelog.com/)
 and this project adheres to [Semantic Versioning](http://semver.org/).
 
+## [5.4.0](https://github.com/python-social-auth/social-app-django/releases/tag/5.4.0) - 2023-10-17
+
+### Changed
+- Improved JSON field migration performance
 - Introduce configuration to request POST only requests for social authentication
+- Updated list of supported Django and Python versions
 
-## [5.3.0](https://github.com/python-social-auth/social-app-django/releases/tag/5.2.0) - 2023-09-01
+## [5.3.0](https://github.com/python-social-auth/social-app-django/releases/tag/5.3.0) - 2023-09-01
 
 ### Changed
 - Uses Django native JSON field
diff --git a/requirements-dev.txt b/requirements-dev.txt
index 7046df4b..a1314f1e 100644
--- a/requirements-dev.txt
+++ b/requirements-dev.txt
@@ -1,5 +1,4 @@
 -r requirements.txt
 coverage
-pre-commit==3.5.0; python_version >= '3.8'
-pre-commit==2.21.0; python_version < '3.8'
+pre-commit==3.5.0
 tox==4.11.3
diff --git a/social_django/__init__.py b/social_django/__init__.py
index b3b76e26..5bf62b3a 100644
--- a/social_django/__init__.py
+++ b/social_django/__init__.py
@@ -1,4 +1,4 @@
-__version__ = "5.3.0"
+__version__ = "5.4.0"
 
 
 from social_core.backends.base import BaseAuth