Pi Network Under Pressure Before Pi2Day: Price Dropped 11%
Despite investor interest ahead of the upcoming Pi2Day event, Pi Network is experiencing a decline. The altcoin has dropped to $0.56 with about an 11% decrease in the last 24 hours. While a major AI integration announcement from the network is expected, the market still seems uncertain.
Excitement for Pi2Day and Emphasis on Artificial Intelligence
The Pi2Day event, held annually and holding an important place in the community, is particularly expected to be significant this year. Within the scope of the event, an announcement regarding a new AI-focused development of Pi Network is anticipated. The project's co-founder Nicolas Kokkalis recently participated in the 'Generative AI' panel at the Consensus 2025 conference and emphasized that integrating artificial intelligence into the Pi ecosystem is likely.
This statement has strengthened expectations that AI-supported use cases could increase interest in Pi Network.
Strong Correlation with Bitcoin: Opportunity or Risk?
There is a correlation of 0.71 between Pi Network and Bitcoin. The BTC price approaching $108,000 could present short-term upward potential for Pi. However, this relationship works both ways: any pullback in Bitcoin could initiate a new wave of decline in Pi's price.
In this context, BTC's price movements continue to be an important indicator for Pi Network investors.
Price Outlook: Targets and Critical Levels
Currently, Pi Network is trading at $0.56, and the $0.57 level stands out as a significant short-term resistance point. Breaching this level could pave the way for the altcoin to recover and progress towards the targets of $0.61 and $0.64.
However, if an upward breakout does not occur, a continuation of the downward trend is possible. In this case, the first support level to watch stands out at $0.51. Especially if volatility increases ahead of the Pi2Day event, this level may be tested.
Market Uncertainty, But Potential Continues
In the process leading up to Pi2Day, investor sentiment will be decisive. If optimism towards the event increases and announcements meet expectations, Pi Network could recover and enter a short-term upward trend. However, a weak market response or a correction in Bitcoin could invalidate this scenario.
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