Pi Coin Drops 16% in Week Amid Market Turmoil and Security Concerns

The Pi Network, which launched its Open Network on February 20, 2025, has faced significant challenges in the past 100 days. The network's price has dropped by 16% in just one week, with the Pi coin currently trading at around $0.5038 after a 0.78% dip. Over the past month, the coin has crashed by more than 37%, raising concerns among users and investors.

The Pi coin reached its all-time high of $2.98 on February 26 but also hit a low of $0.4012 on April 5. The recent decline has been attributed to several factors, including the impact of the Iran-Israel war on the broader crypto market. Strong coins like Bitcoin, Ethereum, and Solana have also dropped, and the global crypto market cap fell by 1.26% in the past 24 hours to $3.1 trillion. The Pi Network, being a weaker project, was affected more severely, falling from $0.60 to $0.50 in just a week.

Another factor contributing to the decline is the prediction made by Dr. Altcoin, a known analyst, who earlier stated that the token might fall to $0.40 unless the team becomes more transparent. This prediction came true when the coin touched $0.40 on June 13 and $0.47 on June 22. The community is now worried that if the coin drops below $0.40 again, users may start leaving the platform.

Additionally, a password leak in the PiChain Global Browser has created panic among users, risking their data. The platform has asked users to bind their emails to protect their coin holdings, further eroding community trust.

Despite these challenges, there is some hope within the community. The upcoming Two Pi Day on June 28 could be a game-changer. Dr. Nicolas Kokkalis, co-founder of the Pi Network, is expected to speak at the Consensus 2025 on the same day, and people believe a major update could be announced, possibly about the Pi network Binance listing speculations. Although both platforms have not confirmed anything, voting results showed community support for a listing.

Dr. Nicolas hinted that once the Network is listed and open to all, the true value of the Token will come out. The project is slowly growing in its current "Enclosed Mainnet" phase, with over 50 million active users and real apps and use cases coming up.

As of now, the Pi coin price stands at approximately $0.5064. The token recently bounced from a low of $0.45, and analysts believe that if it retests the $0.40 mark, it could form a double bottom—a strong bullish reversal pattern. The Relative Strength Index (RSI) stands at 59, showing increased buying pressure, and the MACD indicator is crossing the signal line, suggesting a turn upwards.

In order to find a long-term rally, the price needs to stay above $0.40 and push past the resistance of $0.55 to $0.60. With the backup of a large listing like that of Binance, the coin may sky-rocket. Based on the latest price estimates, it could be worth $5 in the future with continued support from the community. In the best-case scenario by 2027, its price will range between $5 and $10, based on user adoption and overall crypto market trends.

In conclusion, the Pi Network faces both challenges and opportunities. While there are network problems such as price drops, password attacks, and transparency issues, the upcoming Two Pi Day and community expansion offer the potential for a breakthrough. Whether the Pi coin will hit $5 remains uncertain, but it is possible if the ecosystem is strengthened and the team addresses community concerns.