Pi Coin Drops 263 Million Tokens Unlock, Price Near All-Time Low

Pi Coin, a cryptocurrency associated with the Pi Network, has experienced significant market volatility recently. The token's price has been under pressure due to a 263 million token unlock in June, which has contributed to selling pressure and investor concerns. This event, coupled with a broader market selloff, has caused Pi Coin to approach its all-time low, despite a slight rebound of 0.55% in recent trading.

Dr. Nicolas Kokkalis, the founder of Pi Network, has addressed the concerns surrounding the falling price of Pi Coin. He attributed the decline to a global crypto market correction, noting that major assets such as Bitcoin, Ethereum, and Solana have also seen notable decreases. Kokkalis emphasized that Pi Network is in its Enclosed Mainnet phase, meaning the token is not yet publicly tradable. Despite this, he highlighted the project's strong fundamentals, including over 50 million users, a growing ecosystem of real-world applications, and steady development. He reassured the Pi community, known as Pioneers, that the current situation is a transitional phase rather than a crash. Kokkalis believes that the token's true value will be realized once the Open Mainnet launches and Pi is listed on major exchanges. He urged users to remain patient and focused, noting that utility-based growth is already underway.

Crypto analyst Dr. Altcoin has predicted that Pi Coin will remain around the $0.40 level through the end of August. He believes that the upcoming Pi Day 2 event is unlikely to influence the price, indicating low expectations for short-term momentum despite community excitement. Much of the anticipation surrounds June 28, which marks Pi Day 2 and the conclusion of the .pi domain auction. Over 123,000 active bids have sparked optimism about ecosystem growth. While the Core Team hasn’t confirmed any updates, the market is anticipating something significant. Historically, Pi has rallied around such events, as seen with its 175% jump in May. However, caution remains due to the July 1 unlock of 40 million PI tokens, which could weigh on prices. For now, Pi is showing signs of strength, briefly decoupling from Bitcoin’s broader decline, driven by technical support and event-driven momentum.