Interest in Pi Network Crashes to Yearly Low Despite Pi2Day Hype

Interest in Pi Network has plummeted just weeks before its self-proclaimed community holiday, Pi2Day, which is slated for June 28.

The drop raises fresh doubts about the project’s momentum despite a flurry of speculation and unconfirmed rumors.

Hype Builds for Pi2Day, But Reality Paints a Bleaker Picture

The Pi Network community has eyes peeled on Pi2Day, just over three weeks out, with the network promising big announcements.

“Are you excited for Pi2Day?? Big updates are coming to your way. Mass Migration is also going to start in a few days,” Pi Network Alerts shared in a post.

Meanwhile, according to Google Trends data, global search interest for “Pi Network” has fallen to a score of just 5. Notably, this is the lowest point in 2025 and is below levels seen before the launch of its enclosed mainnet.

Pi Network global search interest. Source: Google Trends

This signals fading curiosity among the broader public and may indicate increased difficulty in attracting new users to the ecosystem.

The slump in visibility mirrors a dramatic collapse in trading activity on unofficial markets. Daily trading volume for IOU tokens representing Pi Coin has nosedived by 97% in less than a month. Specifically, it has moved from over $2 billion in mid-May to just $56 million as of June 4.

Yet amid the downturn, some Pi community influencers are clinging to the hope that Pi2Day will inject new life into the project.

The annual celebration on June 28, which coincides with Elon Musk’s birthday, has become a magnet for high-flying speculation.

“Hot rumor: Binance might list Pi Coin on Pi2Day (June 28th)? If true, this could mark a historic milestone for the Pi Network!” posted CryptoLeakVN on X, igniting a wave of social media chatter.

Pseudonymous Pi Network proponent Pi Queen added to the hype by suggesting a fantastical crossover based on Pi2Day’s alignment with Musk’s birthday.

“Just imagine… Tesla x Pi Network Elon says YES to $Pi. Charge your car with mined power. Pay in Pi. Live on Pi,” she wrote.

Rumors of Binance Listing and Tesla Integration Spark Speculation, Not Substance

Despite the enthusiasm, there has been no official word from the Binance exchange or the Pi Core Team regarding any listings or major partnerships. It is impossible to forget how a Binance listing remains elusive for Pi Network’s PI Coin.

Still, a growing number of voices within the controversial Pi Network community are urging caution and a return to realism. Dimas Nawawi, a vocal Pi developer and GCV advocate, delivered a sobering technical assessment.

“Pi Nodes still need protocol upgrades and CT has not yet selected Nodes for Mainnet. Only dozens of Mainnet Nodes are active out of over 200,000 Nodes ready for Mainnet,” Nawawi stated.

According to Nawawi, smart contract deployment and a fully decentralized network remain out of reach unless key protocol upgrades are completed, specifically moving from version 19.6.1 to at least version 20.

“To run Smart Contracts, at least the Protocol update to version 20 is required,” he noted.

He also warned that recent community-led pushes, like the “Urgent GCV” movement advocating for immediate global conversion value (GCV), are doomed to fail without core infrastructure readiness.

“GCV will win in an elegant way… without begging for ‘Urgent GCV’ through Community Movement,” he said, emphasizing the importance of patient development over hype-driven timelines.

Pi2Day may still bring announcements. However, the current Pi Network playing field is one of dwindling public interest, reduced market activity, and misplaced expectations.

Unless the Pi Core Team delivers tangible progress, June 28 risks becoming another letdown for the project’s millions of users. Many still question whether the long-promised open mainnet will ever arrive.

Pi Network Price Performance. Source: BeInCrypto

BeInCrypto data shows Pi Network’s PI Coin was trading for $0.64 as of this writing. The token has fallen 0.4% in the last 24 hours.

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