PI Token Shows Volatility Ahead of Pi2Day Event: Key Levels to Watch

Pi Network's native token PI is experiencing significant volatility, currently trading near $0.58 after an 8% intraday decline following a 12% surge earlier this week. The cryptocurrency faces technical resistance at $0.66 as traders assess mixed on-chain signals against upcoming market catalysts.

Market attention focuses on the June 28 Pi2Day event, where developers may reveal mainnet expansions, AI integrations, and KYC enhancements. The network faces a crucial test in July with 274 million Pi tokens scheduled for unlock—a potential supply shock that could impact prices.

Traders appear divided between short-term profit-takers and long-term holders. The recent price spike to $0.66 aligned with broader crypto market recovery, indicating PI remains correlated with Bitcoin's price movements despite its unique ecosystem developments.