Pi Network (PI) Price Prediction: Can PI maintain a 13% rise, or is it facing a pullback after Pi2Day?

According to Gate news from Brave New Coin, driven by the upcoming Pi2Day event on June 28, Pi Network (PI) coin has surged over 13% in the past 24 hours, making headlines once again. However, with the significant token unlocks approaching in July, investors are now beginning to question whether this rise can be sustained or if a pullback is imminent.

On the eve of the Pi2Day event, Pi Network price soars

The price of PI coin surged from approximately $0.53 to $0.63 in a short period, marking a significant recovery of 30% from its weekly low of $0.47. This trend has broken a seven-week consolidation pattern and reignited the bullish sentiment among long-term followers of the project.

According to CoinMarketCap data, the daily trading volume of PI coin has also surged significantly, rising nearly 66% to reach the $200 million mark. The market capitalization has climbed to approximately $4.74 billion, reflecting a 19% increase during the same period, highlighting the renewed interest in PI coin.

The hype of GenAI and the growth of the ecosystem have driven the rise

The price rebound is closely related to speculation about the major news of this year's Pi2Day celebration. Pi2Day is held annually on June 28 (the symbolism comes from 2π≈6.28) and is regarded as a key opportunity for the Pi core team to announce the latest developments in the ecosystem.

According to the official announcement, this event may introduce Generative Artificial Intelligence (GenAI) features, marking the next phase of the Pi roadmap. The Pi core team also released a "Know Your Customer" (KYC) synchronization update—integrating the Pi browser with the main Pi application—allowing users to synchronize their identity verification and ultimately complete the migration to the Pi mainnet.

Pi Network has over 47 million users worldwide, and such development is crucial for maintaining network participation and developing the market infrastructure of Pi Network.

Token Unlock Risk: Will the Rise Continue?

Despite the bullish momentum, there are signs of caution among people. A large-scale token unlock plan involving 268.4 million PI coins is scheduled for July, marking the largest token release before the end of 2027. Analysts warn that this increase in supply may exert downward pressure on the value of PI coins, especially given the still fragile confidence in the ecosystem.

(Source: Trading View)

Technical indicators such as MACD and RSI also show early signs of weakening momentum. If the hype around Pi2Day fails to bring substantial progress, the price may pull back to the range of $0.57 to $0.60. A more severe decline could test the support level around $0.51, where the PI coin recently bottomed out.

Challenges and Market Skepticism of Pi Network

Despite the recent rise in the price of Pi Network and the increased trading activity boosting short-term optimism, overall concerns still exist. The mainnet of Pi Network is currently still in a closed state, which limits its trading ability on mainstream exchanges. Whether Pi Network can go live on platforms such as exchanges—this is a major focus for PI coin miners and holders—has yet to be confirmed.

(Source: X)

People have also raised doubts about the slow decentralization process of the project. The last significant rise in the price of PI coin was in May when Pi Ventures announced a $100 million investment, but it has since faded away after the initial excitement. Since then, the price of PI coin has dropped over 70% from the May high of $1.67 and is still down 82% from its historical high of $2.98.

Some traders believe that any rebound (including the current rebound) may be temporary unless the PI coin achieves an open mainnet status and ensures reliable exchange listings.

Looking Ahead: Will Pi Network Break Through 1 Dollar?

Despite these concerns, analysts still have differing opinions on the future direction. Some believe that if the Pi core team announces significant technological advancements at Pi2Day—especially the integration of GenAI—the price of the PI coin may rise again to the $1 mark.

An analyst commented: "If key update news is released, this rebound may reflect the momentum of May." He pointed out that the current trend has similarities with previous breakthroughs related to ecosystem updates.

Currently, the PI coin market is at a crossroads. The increasing trading volume, event-driven speculation, and the upcoming large-scale unlocking of tokens together create a delicate balance. Whether Pi Network can convert this excitement into long-term gains remains the core question for experienced PI miners and novice investors.