Pi Network price has recoiled in the past few months despite major developments in the ecosystem. It was trading at $0.1315 on Thursday, a few points above its all-time low of $0.1180. This article explores why June 28 will be crucial for Pi Coin.
June 28 Marks Pi 2 Day or Tau Day
Pi Network will be in the spotlight next week as the community celebrates Pi Day 2, also known as Tau Day. This is the second Pi Day after the one celebrated on March 14.
Tau Day is less popular than the original one celebrated in March. In mathematics, Tau is an alternative constant to the original 3.14. It is usually equal to 2π ≈ , which is approximately 6.28.
Historically, the team behind Pi has used the day to make major announcements. In this year’s case, the focus is on the vibe coder campaign, which aims to incentivize more developers to launch projects on the network.
The idea is simple. Developers using popular vibe coding platforms like Lovable and Cursor can migrate them to their ecosystem and gain more users. This initiative is part of Pi’s strategy to become a major player in the AI industry.
Still, Pi Day 2’s events usually generate less hype than the one held in March. In this year’s case, the developers made major announcements, including the Kraken listing and the planned launch of KYC-as-a-Service. The developers also made news on Pi Launchpad, which aims to lead the creation of native tokens on the network.
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Pi Network has made more progress than other crypto projects this year. The most important one is the ongoing network upgrade to meet the Stellar Protocol 27.
It concluded the migration to Protocol 25 and will soon start the movement to Protocol 26. Protocol 25 introduced zero-knowledge privacy features, while Protocol 26 introduced quantum freeze, Stellar Asset Contract account balance creation, and other features. The most important part of these upgrades is the introduction of smart contracts to the network.
Pi Network Price Technical Analysis
The daily chart shows that the Pi Coin price has been moving sideways over the past few days. It was trading at $0.1315, a few points above the year-to-date low of $0.1181.
The coin has remained below all moving averages. At the same time, the Relative Strength Index (RSI) has moved upwards, a sign that it has formed a bullish divergence pattern.
Therefore, there is a likelihood that the coin will jump to $0.1500 ahead of the Pi 2 Day next week. However, a drop below the $0.1181 support will invalidate the bullish outlook.
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