Pi Network Prepares for June 28 Milestone: What to Expect

Millions of strong Pi online communities are eagerly awaiting June 28. The event comes as the network is gearing up for its biggest annual event, Pi2day. Needless to say, the network has experienced significant difficulties with network outages, KYC issues, and market volatility. Excitement around this special day is running high, with the hope that it could be a milestone for the project. However, the price movement of Pi Coin is telling a more serious story. At the time of writing, Pi is trading at $0.5313 after gaining 5.9% in the last 24 hours. The rumors about AI integration are causing a stir. The rumor started after Pi Core Team hinted at the possibility of integration with AI to generate (GenAI). The recent appearance of co-founder Nicolas Kokkalis at a GenAI conference has sparked speculation that Pi Network may reveal a new AI-powered feature in Pi2Day. Some pioneers believe that this could revolutionize Pi's ecosystem, potentially enhancing mining efficiency, boosting application functionality, and improving overall security. Adding to the optimism, Pi Network recently launched the long-awaited KYC sync feature. This upgrade addresses long-standing user frustration and streamlines identity verification across the platform, thereby raising hopes that Pi2Day will make more important announcements. In addition, to increase excitement, Google Trends data shows that global searches for "Pi2Day" have increased significantly, further reinforcing the growing anticipation. Pi drops despite being inflated But while the community is optimistic, the Pi Coin market (Pi) tell a different story. Over the past month, Pi has lost more than 35% of its value, now hovering around $0.50—just 24% above its all-time low. The coin also recorded its weakest weekly close ever, underscoring the pessimistic sentiment surrounding the token. There are many factors contributing to this decline. The overall weakness of the cryptocurrency market, partly due to geopolitical tensions such as the recent U.S. attack on Iran, has severely affected investor confidence. In addition, the supply of Pi Coin on centralized exchanges has increased sharply – from 345 million to 362 million in just one week, adding to the selling pressure on an already fragile market. According to Piscan's data, Gate holds 168 million Pi tokens, while Bitget has 122 million, making them the largest exchange holding Pi. What can happen on Pi2Day? Despite the downward price trend, Pi2Day can still give new impetus to the project. With rumors in the community about potential exchange listings or AI-powered improvements, many are hoping that June 28 will bring game-changing news. However, analysts remain cautious. Cryptocurrency analyst Dr. Altcoin predicts that Pi could fluctuate around the $0.40 mark until August unless broader market conditions improve or Pi Network brings a big surprise. He warns that the Pi2Day event alone may not be enough to push the price of Pi above $0.60 in the near future.