- Pi Coin slips below $0.57 as traders brace for June 28’s Pi2Day event and a massive July token unlock. Is a deeper drop coming?
Pi Coin is losing altitude again, slipping to $0.5620 after bulls failed to defend the $0.60 handle. The pullback comes just days ahead of Pi2Day, Pi Network’s flagship event on June 28 but so far, the hype hasn’t translated into price strength.
Despite chatter around possible GenAI integration, price action tells a different story. Pi briefly tested $0.65 earlier this week, but that breakout fizzled fast. The coin is now back in a downtrend, wiping out most of its recent gains.
Pi Coin Price Levels Today
- Current price: $0.5620
- Resistance: $0.6000, then $0.6520
- Support: $0.5000, then $0.4380
The technicals aren’t the only red flag. A massive 268.4 million token unlock is slated for July, the largest supply release until 2027. That alone is enough to spook early buyers and trigger pre-emptive selling. Traders have seen how unlocks can hammer prices, especially when trust in the project is already stretched thin.
Meanwhile, the closed mainnet remains a sticking point. No open trading. No clear decentralization timeline. And past efforts to build credibility like co-founder Nicolas Kokkalis’ GenAI panel stunt only worsened sentiment, with Pi crashing 27% in a single session after that appearance.
Outlook
Unless Pi2Day delivers something real not just PR another spin, the trend stays bearish. The market structure is printing lower highs and lower lows, and $0.50 now stands as critical support. If that level gives way, a slide toward the Q2 floor is in play.
At this point, price isn’t reacting to headlines. It’s reacting to trust. And trust is wearing thin.
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