Pi Network: the story of takeoff and fall

At the end of last week, the price of the cryptocurrency PI of Pi Network seemed to have taken off

That takeoff has been talked about a lot, also because it was the result of an apparently important piece of news, but as of today we can say that it was just a mini-bubble.

The boom of the PI token (Pi Network)

Tuesday, June 24, the prezzo di PI was about 53 cents of dollar

The following day, it suddenly took off and reached almost 63 cents within a few hours

Then it continued its run up to 65, only to reposition momentarily just below 63 cents

The fact is that rumors had started to circulate related to AI projects, and especially to a possible partnership with Google.

In particular, the co-founder of Pi Network, Nicolas Kokkalis, participated in a panel on generative artificial intelligence at Consensus 2025, and this sparked speculation about a possible entry of the crypto project into the sector AI.

How is GenAI related to Pi Network? Why did one of two Pi Founders, Nicolas Kokkalis, participate in a GenAI panel at Consensus 2025? Risposta su Pi2Day (6.28.2025)

— Pi Network (@PiCoreTeam) 21 giugno 2025

Subsequently, the launch of Pi App Studio was also officially announced, a platform based on artificial intelligence that allows anyone to create Pi apps without having to write code

Happy Pi2Day 2025! Today, Pi has introduced two exciting features to the ecosystem and provided various tech and product updates. First, Pi App Studio is an AI-powered platform that enables anyone to create Pi apps without coding—created to solve problems the world faces as AI… pic.twitter.com/6ZiVefdYsZ

— Pi Network (@PiCoreTeam) June 28, 2025

At that point, a user X put forward their hypothesis that Pi Network has an agreement with Google AI, because the logo seen on the official announcement of Pi Network resembles the logo of Google’s artificial intelligence division

This hypothesis, however, ultimately proved to be incorrect, at least for now, and since it was not confirmed by Pi Network, a decline in the price of the cryptocurrency was triggered

The burst of the mini-bubble

In fact, a mini-bubble had inflated on the price of PI, which burst starting from the following day

First of all, the price has returned well below 60 cents, and then on Saturday, it also returned to the starting point, namely 53 cents

In reality, the decline did not stop, so much so that today it has dropped to 51 cents, although it is not at all a worrying level. In fact, it still turns out to be higher than the level of last Tuesday, when it was just above 50 cents

The trend of the price of PI

The cryptocurrency of Pi Network landed on the crypto markets in February of this year, that is, shortly after the end of the mini-bubble generated by Trump trade.

Initially, its price was just under $0.90, but within a week it had already soared to almost $2.8.

That +240% in seven days was already evidently a speculative bubble, and as soon as the crypto markets started to correct, the price of PI collapsed

The decline then ended only in early April, at about $0.52, which is a price in line with the current one

In these cases, it is advisable to ignore the initial bull to conduct medium/long-term analyses; therefore, it is advisable to start right from that $0.52 on April 5

Practically since then, it has done nothing but move sideways, within a range between $0.5 and $0.7, but with another significant bubble that inflated shortly before mid-May

In fact, between May 11 and 12, in just two days, the price suddenly skyrocketed above 1.5$, only to plummet back to 0.7$ two days later

Subsequently, it continued to fall to $0.5 on June 22, which suggests that last week’s mini-bubble was just a timid attempt at a rebound, already failed

“html The Pi Network project “

The crypto project Pi Network was launched even in 2020.

Despite this, the mainnet was launched only in February of this year, which is five years after the start of the project.

Over time, the project has evolved, even before landing on the crypto markets, precisely because five years in this sector are an eternity

Currently, the cryptocurrency PI capitalizes 3.8 billion dollars, which places it in the 30th position among the crypto with the largest market capitalization

The idea is to create a social cryptocurrency, along with a platform for developers and an ecosystem designed to be widely accessible and useful in the real world

To tell the truth, it is not an innovative idea at all, also because from 2020 to today several other projects have tried to follow this path, often with disappointing and never truly interesting results

Furthermore, the fact that the predominant narrative of this project changes over time does not give it an aura of reliability at all, and the price trend of PI suggests that it is primarily a speculative cryptocurrency, at least for now.