Pi Network's Token Faces 60% Decline Amid Unlocks, Security Concerns

Pi Network, a prominent cryptocurrency project, is currently navigating significant price challenges due to upcoming token unlocks in June 2025. The network's native token, Pi, has experienced a notable decline, with its price hovering just above the $0.50 mark, dangerously close to its all-time low of $0.40. This downward pressure has been exacerbated by several factors, including token unlocks, which have diluted the value of existing investments, and limited exchange listings, which have restricted liquidity and accessibility for traders.

The recent price volatility has been particularly pronounced, with the token's value crashing to $0.40 on June 13 before bouncing back above $0.55. This volatility has been attributed to a combination of factors, including concerns over security and stalled ecosystem growth. Users have reported issues such as KYC errors, 2FA failures, and stuck wallets as the June 28 mainnet migration approaches, adding to the overall uncertainty surrounding the network.

The Pi Network ecosystem has also been grappling with growing uncertainty as concerns over its .pi domain auction weigh heavily on the price of its native token. The .pi domain auction, which was meant to showcase utility and expand digital participation, has failed to deliver the ecosystem-wide uplift many had hoped for. Critics argue that the changes have not addressed deeper platform issues, including KYC delays and limited business adoption. Additionally, the low conversion of domains into actual utility, such as live websites, businesses, or dApps, has drawn criticism. Many domains have been snapped up for speculative purposes, such as squatting on generic terms or brand names, rather than being used to anchor meaningful services.

The recent 60% decline in Pi’s price over the past month has rattled users and investors alike. The Pi Core Team has launched a dedicated app for the .pi domain auction, but the update has not delivered the ecosystem-wide uplift many had hoped for. The domain auction, which introduced features like real-time statistics and email notifications, was meant to showcase utility and expand digital participation. However, the impact appears modest compared to the network’s daily trading volume, and the absence of such applications continues to dampen momentum around the initiative.

Adding to these frustrations, users are increasingly vocal about the lack of new listings, app integrations, or smart contract functionalities. These gaps are compounding scepticism as Pi Network prepares for its next major event—Pi2Day on June 28. The recent surge in trading volumes for Pi, which rose 60% over the past 24 hours, was not backed by bullish sentiment. Instead, centralised exchanges recorded large inflows, a move typically seen when holders prepare to sell. This has raised fears of a potential coordinated sell-off that may place further pressure on already fragile support levels.

With around 11 million PI tokens being unlocked daily, adding to the oversupply problem, the outlook for Pi coin remains bearish. The recent password leak tied to PiChain Global has also highlighted broader concerns over the platform’s readiness to handle mainstream adoption. Users were urged to take urgent steps to secure their Pi accounts and bind their email addresses to the Pi Chain Mall platform. This incident, though isolated, has led to increased calls for multi-layered security and better identity verification mechanisms.

Technically, Pi coin is consolidating between $0.57 and $0.60, but analysts caution that support at this level is under serious threat. While some indicators suggest a possible rebound toward $0.67, overall momentum remains bearish. Without a strong catalyst—such as a surprise exchange listing or a major feature announcement during Pi2Day—most signals point toward continued sideways or downward movement. The MACD is approaching a bearish crossover, and resistance at $0.66 has proven firm.

As Pi Network works to revive community engagement, investors will be watching closely for concrete signs of growth. Unless the ecosystem delivers on long-promised features and utility, the PI token could continue to slide. For now, market sentiment remains cautious, and Pi coin’s short-term outlook is clouded by unresolved issues and growing disillusionment within its user base.