With less than a week until Pi Network’s highly anticipated Pi2Day, the project’s community, known as Pioneers, eagerly awaits major announcements. Many are even speculating that the event could trigger a significant price surge.
However, escalating geopolitical tensions may cast a pall over expectations. Over the past week, the global cryptocurrency market has experienced a 7.0% decline, with Pi Coin (PI) seeing a drop more than twice as steep, fueling concerns about the token’s potential price movement.
Pi2Day Countdown: What The Pi Network Community Should Expect
Pi2Day is an annual event celebrated on June 28. It is focused on Pi Network’s achievements and new developments and reflects double the symbolic value of Pi Day (3.14). This day has generated notable excitement among the community.
Google Trends data showed that the search interest for ‘Pi2Day’ peaked at 100 on June 21, highlighting strong user interest. The surge is fueled by speculation about potential major announcements, including exchange listings and new app launches.
Pi2day Search Interest. Source: Google Trends
BeInCrypto reported that ahead of the Pi2Day, the team released a Know Your Customer (KYC) synchronization feature. This fixes the long-standing KYC issues users faced, which caused significant backlash for the project in the past.
Moreover, the Pi Core Team has also hinted at another major development. In a recent post on X, they posed a question:
“How is GenAI related to Pi Network? Why did one of two Pi Founders, Nicolas Kokkalis, participate in a GenAI panel at Consensus 2025? Answer on Pi2Day (6.28.2025),” the post read.
These hints have led some Pioneers to expect developments tied to artificial intelligence integration or enhanced blockchain utility. A user also theorized that generative AI could improve Pi Network by optimizing mining efficiency, personalizing user experiences, enabling advanced dApps, and boosting security through real-time threat detection.
“The fact that Nicolas Kokkalis joined a GenAI discussion at Consensus 2025 hints that Pi Network might be gearing up to blend these technologies in a big way,” the user stated.
However, nothing has been confirmed yet, and the final announcement will only be made on June 28.
Pi Network Price Struggles Amid Global Crypto Downturn
Meanwhile, these positive signals have been overshadowed by macroeconomic and geopolitical turmoil. The US attack on Iran has intensified fears of a broader conflict, triggering a panic sell-off across cryptocurrencies.
Pi Network’s native token, PI, has fared worse. The price just closed the weekly candle at its lowest level ($0.503) since the token was launched.
Pi Network Price Performance. Source: TradingView
Over the past month, PI has declined by 35.1%. At the time of writing, the mobile-mined cryptocurrency traded at $0.50, just 24.5% away from its all-time low.
Pi Coin’s price decline has been exacerbated by a surge in token supply on centralized exchanges (CEXs). According to PiScan data, the supply rose to 362 million PI from 345 million the previous week.
PI Coin Supply on Exchanges. Source: PiScan
Technical indicators also paint a grim picture. BeInCrypto’s latest analysis highlighted sustained downward pressure on PI’s price.
Despite the bearish outlook, Pi2Day might still catalyze a price rise. However, this is contingent on the announcement and its impact on the network and its users.
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