Pi Network’s mobile app is under scrutiny over rising privacy and security concerns. While some users report cashing out their Pi coins for real-world goods and services, others warn about the app’s data collection practices and lack of regulatory oversight.
The app requires access to contacts and personal identification through Know Your Customer (KYC) processes. Critics argue that if this data is leaked or misused, users could face phishing attacks or identity theft. One Reddit user expressed concern, saying,
“If the Pi user list gets leaked, it’s a goldmine for crypto-targeted scams.”
Despite these warnings, multiple users claim to have exchanged Pi coins for smartphones, down payments, or services in parts of Asia and Florida, suggesting limited real-world use. However, the coin remains unavailable on major exchanges, and its value remains highly speculative.
For now, the app poses no direct financial risk, as users do not deposit money. Still, privacy experts advise restricting permissions and removing the app if users no longer intend to participate.
Pi Network Price Forms Falling Wedge, Suggests 98% Upside Potential
On June 2, 2025, the Pi Network to Tether (PI/USDT) 4-hour chart on OKX formed a falling wedge pattern. A falling wedge is a bullish reversal setup where price moves between two converging downward-sloping trendlines, often signaling weakening selling pressure before a breakout.
The current price trades at $0.6398, sitting below the 50-period Exponential Moving Average (EMA), which stands at $0.6963. Volume remains relatively low at 5.54 million, showing reduced market activity as the wedge narrows.
If the pattern confirms with a breakout above the upper red trendline, the price could rally 98% from its current level, targeting the $1.2792 mark. That target is based on the height of the wedge’s previous peak.
Recent price action shows compression near the lower boundary of the wedge, with repeated higher volume spikes hinting at possible accumulation. However, the token must reclaim the 50 EMA to validate bullish momentum.
If buyers push past resistance, the move may mirror Pi’s earlier vertical rally in mid-May, when price surged before a sharp correction. For now, price remains trapped within the wedge, awaiting confirmation.
Pi Network RSI Shows Weak Momentum With Early Reversal Signs
On June 2, 2025, the Relative Strength Index (RSI) for Pi Network (PI/USDT) on the 4-hour chart stood at 39.23, while its moving average line printed 35.87. This shows the token is exiting the oversold region but still trades below the neutral 50 line.
The RSI (14), or 14-period Relative Strength Index, measures recent price strength on a scale from 0 to 100. Values below 30 indicate oversold conditions, while readings above 70 suggest the asset is overbought.
After dipping close to 30 in late May, the RSI has begun to climb. That signals slowing bearish pressure and hints at a potential recovery. The indicator’s recent cross above its moving average adds further weight to a possible short-term trend reversal.
However, RSI values remain below the 50 threshold. Until the index reclaims that midpoint, bullish conviction remains limited. Traders will watch closely for a clean break above 50, which may confirm renewed upward momentum.
Pi Network BBTrend Flips Positive After Prolonged Downtrend
Meanwhile, the BBTrend (Bollinger Band Trend) indicator for Pi Network (PI/USDT) turned positive, printing a value of 0.8633. This marks the first shift into bullish territory after an extended period of heavy downside momentum.
The BBTrend indicator, which combines elements of Bollinger Bands with trend tracking, helps identify directional strength. Negative values signal bearish pressure, while positive values suggest an emerging uptrend.
From May 29 to June 1, BBTrend remained deeply negative, dropping below -11.0, reflecting sustained selling and volatility compression. However, a steady transition from red to green bars shows a gradual fade in bearish strength and a shift toward potential price recovery.
This move aligns with other bullish signals, including a falling wedge breakout setup and early RSI recovery. If BBTrend continues to rise, it may confirm strengthening upside momentum in the coming sessions.
Pi Network Trades Flat Within Narrow Bollinger Bands on Low Volume
On June 2, 2025, Pi Network (PI/USDT) continued consolidating sideways on the 1-hour chart with price pinned near $0.6393. The Bollinger Bands — based on a 20-period Simple Moving Average — show tight constriction between the upper band at $0.6498 and the lower band at $0.6354.
Bollinger Bands track volatility by plotting standard deviations around a moving average. Tightening bands usually precede a sharp breakout in either direction.
Currently, the price trades just below the middle band ($0.6426), suggesting neutral-to-slightly-bearish momentum. Volume remains low at 641.53K, signaling reduced participation.
Price briefly spiked above the upper band during the June 1 rally but quickly retraced. Since then, price action has hovered near the midline with no strong directional bias. A decisive move outside the bands could trigger renewed volatility.
Pi Network Trades Flat Within Narrow Bollinger Bands on Low Volume
On June 2, 2025, Pi Network (PI/USDT) continued consolidating sideways on the 1-hour chart with price pinned near $0.6393. The Bollinger Bands — based on a 20-period Simple Moving Average — show tight constriction between the upper band at $0.6498 and the lower band at $0.6354.
Bollinger Bands track volatility by plotting standard deviations around a moving average. Tightening bands usually precede a sharp breakout in either direction.
Currently, the price trades just below the middle band ($0.6426), suggesting neutral-to-slightly-bearish momentum. Volume remains low at 641.53K, signaling reduced participation.
Price briefly spiked above the upper band during the June 1 rally but quickly retraced. Since then, price action has hovered near the midline with no strong directional bias. A decisive move outside the bands could trigger renewed volatility.
