This article explores the development directions of the phenomenon of Computational Thinking (CT) from the perspectives of discourse analysis. The motivation is based on the understanding of CT as an advanced educational approach, methodology, and community, aimed at a set of learners’ digital and further competences having a huge impact on modern education and society. The novelty of this study lies in the attempt to look holistically at CT and its perspectives, considering it as an evolving phenomenon per se, leaving aside discussion on its internal characteristics or applications. The study utilizes a comprehensive analysis, applying discourse analysis and social semiotics methods. The results present the most trended storylines associated with CT and its context, providing a thorough introduction to the CT discursive landscape. The findings and discussion present a reflective insight into the discursive landscape directions, focusing on meaning-makers and their identities, the transformative and transductive potential of CT, observing the phenomenon’s development paths from a metaphorical perspective and positioning it towards the development of the socio-technical networks it mediates. In the conclusion, the options for development and possible trends in the reconstitution of the CT phenomenon are outlined.