Pi Network Founder Breaks Silence on Price Drop and Market Fears

The crypto market suffered significant weekend losses, with major coins falling and investor sentiment weakening. Pi Coin slipped 11%, touching near-record lows before rebounding slightly by 0.55%. Market turbulence, token unlocks, and inflation fears added pressure to Pi Network’s performance.

Pi Coin Nears Low as Fears Grow

Rising geopolitical tensions and inflation concerns caused sharp corrections across the crypto market. Bitcoin fell below $99,000, pulling other altcoins down and spreading panic among retail traders. Pi Coin was no exception, facing strong selling as the sentiment worsened.

 

June’s 263 million Pi token unlock caused heavy pressure among long-term holders. Many investors saw this as a trigger for the recent dip. Coupled with macroeconomic fears, the effect on Pi Network became more visible.

Despite Pi’s enclosed mainnet status, off-market trading sentiment continued to affect its perceived value. Traders expected some decoupling, but external factors prevailed. The price dipped close to its all-time low before showing a minor recovery.

Kokkalis Defends Pi Network Amid Decline

Dr. Nicolas Kokkalis addressed the community, noting that Pi Coin’s decline aligned with the general crypto market movement. He explained that Pi Network’s fundamentals remain intact and are not directly tied to exchange-based volatility. Kokkalis called the current situation part of a broader correction, not a project-specific failure.

📉 Why Is #PiNetwork Price Low Right Now? Will It Rise Again? 🔄

🚨 Global crypto correction is hitting all major coins — not just Pi.
🔻 #Bitcoin, #Ethereum & #Solana have dipped recently, dragging the market sentiment down. When these giants fall, the whole market feels it.… pic.twitter.com/8f48DaHzCV

— Dr. Nicolas Kokkalis (@drnicolas_) June 22, 2025

He emphasized Pi Network’s unique structure, with over 50 million users and no open market exposure yet. The enclosed mainnet continues, making Pi’s valuation mostly based on ecosystem use and speculation. Yet, indirect pricing mirrors wider trends, causing temporary misalignment with fundamentals.

Despite concerns, Kokkalis confirmed continued ecosystem development and utility expansion. He urged users to remain focused on the long-term vision. Pi Network’s application-driven model aims to support its future valuation when the Open Mainnet launches.

Analysts Eye Key Events but Warn of More Volatility

Crypto analyst Dr. Altcoin predicted Pi Coin would hover near $0.40 until August, even with community-driven events. He mentioned that Pi Day 2 on June 28 would likely have minimal short-term price impact. Though excitement surrounds the event, expectations remain conservative.

Interest in the .pi domain auction added momentum, with 123,000 bids boosting user activity. Despite that, the Core Team has not confirmed any major updates. The lack of official announcements has tempered enthusiasm among cautious traders.

Another hurdle arrives on July 1, with 40 million more Pi tokens set to unlock. This could create another wave of selling pressure. However, Pi Network showed minor resistance recently, briefly decoupling from Bitcoin’s broader downtrend.

FAQs

What caused the recent Pi Coin drop?

The recent drop came from a combination of market-wide correction, token unlock pressure, and investor sentiment shifts.

Is Pi Coin publicly traded?

No, Pi Coin remains in its enclosed mainnet phase and is not yet listed on major public exchanges.

What is Pi Day 2?

Pi Day 2, on June 28, marks a key community event along with the conclusion of the .pi domain auction.

Will the July 1 token unlock impact price?

Yes, the unlocking of 40 million tokens may increase selling pressure and volatility in the short term.

When is the Open Mainnet expected?

The Pi Core Team has not announced an official date, but expectations grow as development continues.

Glossary of Key Terms

Pi Network – A crypto project currently in the enclosed mainnet phase with over 50 million users.

Enclosed Mainnet is a blockchain phase where tokens can’t be publicly traded, limiting speculation.

Token Unlock – A scheduled event when previously restricted tokens become available for trading or use.

Open Mainnet – A future phase where Pi Coin will become tradable on public exchanges.

.pi Domain Auction – A Pi Network initiative allowing users to bid for decentralized domain names.

References:

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