Pi Network Crashes to $0.50 After Shocking U.S. Strike on Iran — Is the Massive Token Unlock to Blame?

Jakarta, Pintu News – The crypto market experienced a sharp decline after the President of the United States, Donald Trump, ordered a surprise airstrike on Iran’s nuclear facilities.

The attack reportedly destroyed three key nuclear power sites, triggering geopolitical tensions and a wave of panic in global markets.

So, how have the recent attacks affected the crypto market, especially Pi Network? Check out the full story!

Pi Network price drops 0.5% within 24 hours

On June 23, 2025, the price of Pi Network (PI) was recorded at $0.5037, a slight decrease of 0.5% in the last 24 hours. If converted to the current rupiah ($1 = IDR 16,504), then 1 Pi Network is IDR 8,313.

Read also: What is Pi2Day? Pi Network’s Big Day that Could Change the Fate of the Pioneers!

Although minor, this drop occurred amidst high volatility, with the daily price range being between $0.473 and $0.5185.

In terms of fundamentals, Pi Network’smarket cap currently stands at $3.74 billion, with afully diluted valuation of $5.8 billion.

Last 24-hour trading volume reached $137 million, reflecting relatively high market interest despite a cautious sentiment. This could be a sign that investors are still watching for further moves before taking large positions.

Crypto Market Experiences a Crazy Sell-Off

As news of the airstrikes spread, Bitcoin (BTC), Ethereum (ETH), and other leading cryptocurrencies experienced a massive sell-off, with market value evaporating within hours.

Many bullish positions were liquidated as traders hurriedly pulled out of risky assets, fearing further potential escalation.

Pi Network’s Pi Coin price plummeted by 11% on June 22, nearing an all-time low. Now on June 23, Pi is trading at $0.5037, leaving many holders worried about the future of the coin.

This latest drop comes after a difficult few weeks for Pi Coin, where its price has already fallen more than 30% during the month of June alone.

Why Pi Coin’s Price Continues to Fall

One of the main causes of Pi Network’s downfall has been the massive release (token unlock) of 263 million Pi tokens this month, worth approximately $143 million. This significant surge in supply has added selling pressure and pushed the price downwards.

According to Coinpedia, technical indicators suggest that Pi may be approaching oversold territory, which is a condition where prices usually have a chance to recover. In addition, June 28 – known as 2 Pi Day among the Pi community – is just a few days away.

Read also: Pi Network Prediction: Can Pi Coin Price Surge to $1 Again?

Historically, the project often makes major announcements around this date, and many expect updates, partnerships, or new features to stir up market sentiment.

However, analyst Dr. Altcoin shared via social media, “Pi is now officially in the $0.4 range, and I expect it to remain at that level until the end of August. Pi Day 2 will most likely not have any impact.”

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpedia. Pi Network Price Crashes 11%, Inches Closer to All-Time Low Below $0.40. Accessed on June 23, 2025