Pi Network’s Nicolas Kokkalis Finally Breaks His Silence on Pi Coin’s Shocking Price Crash!
Jakarta, Pintu News – The crypto market suffered sharp losses over the weekend, caused by rising tensions in the Middle East and concerns over inflation.
Bitcoin briefly dropped below $99,000, followed by Ethereum and other major altcoins. Pi Coin also plummeted by 11%, near its all-time low, before experiencing a slight recovery of 0.55% on June 23.
Pi Network Founder Responds to Concerns regarding Pi Coin Decline
Reporting from Coinpedia (23/6), the release of 263 million tokens in June continued to depress the price of Pi, increasing selling pressure and concerns among investors.
Read also: Pi Network Founder Accused of Fraud for Defending Plummeting Prices; Here’s His Response!
However, Dr. Nicolas Kokkalis, founder of Pi Network, has responded to concerns regarding the Pi price drop. He stated that this drop is part of a general crypto market correction.
He highlighted that major assets such as Bitcoin, Ethereum, and Solana also experienced significant declines, which affected the overall market mood.
The decline of Pi is therefore not an isolated event, but could be part of a global trend.
Temporary Decline, Long-term Vision
According to him, even though the crypto market is experiencing a massive downturn, Pi Network still stands out with its unique structure. The project is still in the Enclosed Mainnet phase, which means it is not yet publicly tradable.
However, Kokkalis emphasized that the project has strong fundamentals, including more than 50 million users, a growing ecosystem of real-world applications, and consistent development.
He reassured the Pi community, known as Pioneers, that what is happening now is not a crash, but a transitional phase.
Kokkalis believes that the true value of the Pi token will be seen after the launch of the Open Mainnet and when Pi is listed on major exchanges. He describes the current situation as an accumulation phase, which is often mistaken for weakness.
For now, he urges users to remain patient and focused, noting that utility-based growth is already underway.
Analyst: Pi Network Price to Remain Low
Crypto analyst Dr. Altcoin predicts that Pi Coin ‘s price will stay around $0.40 until the end of August.
Read also: Pi Network Jumps 5% Today (June 24) – Is This the Calm Before a Pi2Day Price Explosion?
He argues that the upcoming Pi Day 2 event will not affect prices much, indicating low expectations for short-term momentum despite the enthusiasm of the community.
Furthermore, most of the attention was on June 28, which marked Pi Day 2 and the end of the .pi domain auction. More than 123,000 active bids have fueled optimism towards the growth of the ecosystem.
Although Core Team has not confirmed any updates, the market is expecting surprises. Historically, Pi has experienced price spikes at this time of year, such as the 175% increase in May.
However, caution is warranted as July 1 will see the release of 40 million PI tokens, potentially depressing prices.
For now, Pi is showing signs of strength, briefly detached from the broader Bitcoin downtrend, driven by technical support and event-based momentum.
That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.
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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 News: Nicolas Kokkalis Breaks Silence on Pi Coin Price Drop. Accessed on June 24, 2025
