Pi Coin Plummets 11% Amid Trump's Iran Airstrikes

The crypto market experienced a significant downturn following the U.S. President Donald Trump's surprise airstrikes on Iran’s nuclear facilities. The attack reportedly targeted three major nuclear-powered sites, escalating geopolitical tensions and triggering a wave of panic across global markets.

As news of the airstrikes spread, major cryptocurrencies such as Bitcoin and Ethereum faced substantial sell-offs, resulting in billions of dollars being wiped from the market within hours. Many traders liquidated their bullish positions, seeking to exit risky assets amid fears of further escalation.

Among the affected cryptocurrencies, the price of Pi Network’s Pi Coin plummeted by 11% within the last 24 hours, inching closer to its all-time low. At the time of writing, Pi was trading at $0.47, causing concern among its holders about the coin’s future prospects.

This recent decline follows a challenging period for Pi Coin, with prices dropping over 30% in June alone. A significant factor contributing to this fall is the massive token unlock of 263 million Pi tokens this month, valued at approximately $143 million. This substantial increase in supply has exerted considerable selling pressure, driving prices down.

Technical indicators suggest that Pi might be nearing oversold territory, a level where prices often rebound. Additionally, June 28th, known as 2 Pi Day within the Pi community, is approaching. Historically, the project has made significant announcements around this date, and many are anticipating fresh updates, partnerships, or new features that could boost market sentiment.

However, analyst Dr Altcoin expressed a different perspective on social media, stating, “Pi is officially in the $0.4 range, and I expect it to remain there until the end of August. Pi Day 2 is unlikely to have any impact.”