Over the past 24 hours, most leading cryptocurrencies have shown a modest but noticeable recovery. Pi Network’s native token, however, remains in the red as downward pressure on its price persists.
One analyst suggests there may be a silver lining, noting a key condition that could spark a rebound.
The Necessary Condition
Last week, PI briefly dipped below $0.12, marking its lowest level since trading began. It later recovered some losses and is currently trading just under $0.13, reflecting a 12% decline over the past week and an overall drop of about 96% from the February 2025 all-time high.
X user Erick Crypto ₿ observed that the price has attempted to stabilize after the extended downtrend, but trading volume remains low, so “confirmation is still needed.”
The analyst also noted that PI’s Relative Strength Index (RSI) has approached oversold territory, indicating the token’s value has fallen rapidly and could be ripe for a bounce. He emphasized that the market’s next move depends on buyers’ reactions:
“If buyers step in, we could see a recovery move from these depressed levels. However, risk management remains essential until a clear trend reversal appears.”
Awaiting This Date
The Pi Network team has recently marked several milestones and shared updates about the project’s ecosystem development.
Most notably, the team announced the successful migration to protocol v24, an upgrade intended to strengthen the infrastructure supporting node operations and mainnet activity. The Core Team has indicated that migration to v25 is the next step, with June 18 set as the target date.
Earlier, CiDi Games—a portfolio company of Pi Network Ventures—released four new games for Pioneers: Coin Whack, Fruit Stack, Gemnova, and RainbowCubes.
Despite these advances, PI’s price did not experience a rebound, and community focus has turned to June 28, referred to by some as Pi2Day. Social media chatter suggests growing speculation about possible announcements, ecosystem updates, or new features that might be revealed that day. Nothing has been confirmed, however, and it remains uncertain whether any potential developments will materialize or influence PI’s market value.