The price of Pi Network’s $PI coin has dropped significantly to around $0.63 in recent days, marking a nearly 8% decline in the last 24 hours. This dip, the first time it has fallen below $0.7 since early February, is concerning for millions of Pioneers who have signed up and mined the cryptocurrency, as it comes after initial market excitement surrounding the Open Network launch. PiCoreTeam, the project’s steering group, emphasizes its long-term goals rather than short-term fluctuations. 24/7 updates on their official website, PiCoreTeam has been working to build a Web3 ecosystem with practical applications and foster a community-driven network. This includes initiatives like PiFest, which saw over 125,000 sellers and 1.8 million Pioneers engaging through the Map of Pi, and the .pi Domains Auction launched on Pi Day, promoting real-world utility for the network.