Key Takeaways:
- Pi Coin price plunges to $0.47 — dangerously close to all-time lows — following U.S. airstrikes on Iran and mounting selling pressure from a massive 263M token unlock.
- Traders hope upcoming “2 Pi Day” on June 28 could deliver bullish news, but analysts remain skeptical about a near-term recovery.
The price of Pi Network’s Pi Coin (PI) plunged 11% over the past 24 hours, falling to $0.47 — just a hair above its all-time low — as geopolitical tensions rocked global markets. The sharp sell-off followed surprise U.S. airstrikes on Iranian nuclear facilities ordered by President Donald Trump. The attack, which reportedly destroyed three key sites, triggered a wave of panic selling across crypto markets.
Bitcoin (BTC), Ethereum (ETH), and other major cryptocurrencies also suffered heavy losses, with billions in market value wiped out in hours. The risk-off sentiment led to the liquidation of numerous bullish positions as traders scrambled to exit volatile assets.
For Pi Coin, the latest decline compounds a difficult June — the token has lost more than 30% this month alone. A major contributing factor is this month’s massive token unlock: 263 million PI tokens, worth roughly $143 million, have entered the market, significantly increasing supply and adding sustained selling pressure.
Can 2 Pi Day Spark a Recovery?
Despite the bleak outlook, some technical indicators suggest Pi Coin is approaching oversold territory, potentially setting the stage for a rebound. Optimism is also building around June 28th — known in the community as 2 Pi Day — a date when the project typically makes key announcements.
However, not all analysts are convinced. Crypto influencer Dr Altcoin cautioned, “Pi is officially in the $0.4 range, and I expect it to remain there until the end https://chainaffairs.com/pi-network-faces-scam-allegations-as-mainnet-launch-approaches-can-it-overcome-the-controversy/of August. Pi Day 2 is unlikely to have any impact.”
Also Read: Pi Network Faces Scam Allegations as Mainnet Launch Approaches: Can It Overcome the Controversy?
With sentiment fragile, all eyes are now on whether the Pi team can deliver the news needed to reverse the current downtrend.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
