Pi Network Hit by Major Securities Fraud Lawsuit — What It Means for Pi Coin Holders

June 28: A Pivotal Day for Pi Network? Investors Watch as Pi Coin Faces Turbulent Times

Pi Network, once heralded as one of the most promising community-driven blockchain projects, is approaching a significant date on its calendar: June 28, widely known as Two Pi Day or Tau Day (because 2π equals 6.28). As the day nears, anticipation builds within the Pi Network community and the broader crypto sphere. Many are asking: Will this symbolic day mark a new chapter for Pi Coin, potentially setting a fresh all-time high, or will ongoing challenges push it further down the rankings?

Let’s take a closer look at why June 28 is seen as a critical moment for Pi Network — and what investors, developers, and enthusiasts might expect.

Source: CoinMarketCap

Pi Coin’s Recent Performance: A Struggle for Stability

Pi Coin’s price performance in recent weeks has been anything but stable. As of June 18, Pi Coin is trading at $0.5546, marking a daily decline of approximately 2.52%. Its market capitalization sits at $4.13 billion, with a 24-hour trading volume of $95.1 million.

Over the past week, the price has retreated from a high of $0.6414 to lows near $0.5198, representing a decline of around 14%. Zooming out to the monthly timeframe reveals an even sharper drop: Pi Coin has lost nearly 24% of its value in that period.

The token’s all-time high of $2.98, recorded on February 26, 2025, now seems like a distant memory. With Pi struggling to regain momentum, hopes are pinned on whether June 28 can provide the catalyst for a recovery.

Source: X

Why Is Pi Coin Under Pressure?

Several key factors have contributed to Pi Coin’s recent downward trajectory. Analysts point to two primary drivers behind the decline.

1. Security Scare: PiChain Global Password Leak

One of the most significant issues shaking confidence in Pi Coin is a security alert issued by PiChain Global. The platform confirmed a password leak, leading to concerns about the safety of user accounts on the Pi Network.

In response, users were urged to take immediate action: link a verified email, download the PCM wallet, complete Know Your Customer (KYC) procedures, and submit their details to a designated support address. While these measures aim to safeguard user funds and accounts, the breach has already created widespread unease. For investors, trust is paramount, and incidents like these can have an outsized effect on market sentiment.

2. Slipping Market Rank: Danger of Falling Out of the Top 30

Adding to the anxiety is Pi Coin’s slipping market position. According to CoinMarketCap, Pi is currently ranked 29th, with a market cap that just edges out that of Aave ($4.03 billion). A relatively modest drop in Pi’s value — as little as $95 million — could see it fall out of the top 30 cryptocurrencies, a psychological blow that could further erode investor confidence.

Being in the top 30 not only garners attention from investors but also from exchanges, institutional players, and developers. Losing that status could weaken the project’s visibility and credibility at a crucial time.

Source: TradingView

Why June 28 Matters to the Pi Community

June 28 is not just another date on the calendar for Pi Network supporters. Known as Two Pi Day or Tau Day (in recognition of the mathematical constant 2π, or approximately 6.28), the date carries symbolic weight in the project’s culture.

This year, speculation is rampant that June 28 could bring significant news or developments. Here’s what the community is watching for:

Potential Binance Listing

Rumors are swirling across community forums and social media that Pi Coin may secure a listing on Binance — one of the world’s leading cryptocurrency exchanges. Although no official confirmation has come from either Pi Network or Binance, advocates argue that June 28 would be a fitting day for such a high-profile announcement.

A Binance listing could provide a major liquidity boost, attract new investors, and restore some of the confidence that has been lost in recent weeks. But for now, this remains speculation.

Hopes for a New All-Time High

With Pi Coin’s price languishing far below its peak, supporters are hopeful that renewed attention on June 28 could spark a rally. Some believe that the symbolic power of Two Pi Day, combined with potential announcements or upgrades, could generate enough momentum to challenge — or even surpass — February’s $2.98 high.

While such optimism is understandable, market analysts caution that breaking through significant resistance levels will require more than symbolism. Tangible developments in technology, partnerships, or adoption are likely needed to fuel a sustained rally.

Possible Ecosystem Announcements

June 28 could also see Pi Network’s core team unveil new initiatives or updates to its ecosystem. In the past, the team has used key dates to introduce features like blockchain domains, decentralized apps (such as FruityPi), or improvements to the Pi Browser.

Announcements that expand the coin’s utility or enhance its underlying technology could provide a fundamental basis for price recovery.

Pi Coin Price Outlook: Where Do We Go From Here?

Technical indicators present a mixed picture. On short-term charts (such as the 30-minute USDT pair), Pi Coin’s price is consolidating within a narrow range, reflecting both weakness and indecision.

Bullish Scenario: Should Pi Coin hold support at $0.54 and break through resistance at $0.56, it could climb toward $0.58 or even $0.60. Indicators like the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are showing tentative signs of recovery, but these need to be confirmed by stronger volume and sustained buying interest.

Bearish Scenario: If the price slips below $0.52, the next support levels are seen at $0.50 or even lower. Such a move would likely trigger stop-loss orders and exacerbate selling pressure, particularly if broader market conditions remain weak.

Key Levels to Watch: For the immediate term, $0.56 represents a critical resistance level, while $0.52 is a vital support line.

Final Thoughts: June 28 as a Crossroads for Pi Network

As June 28 approaches, Pi Network stands at a critical juncture. The day’s symbolic significance offers an opportunity for the project’s core team to reinvigorate community morale and market interest. Whether through a major exchange listing, ecosystem expansion, or other strategic initiatives, the moment is ripe for action.

However, without concrete developments, Pi Coin risks further price erosion and waning interest from both retail and institutional investors. As always in the crypto space, investors are urged to proceed with caution, keeping an eye on fundamentals as well as market sentiment.

Writer @Erlin

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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