On June 16, the Pi Core Team launched a dedicated Pi Domain Auction app.
This app, now separate from the Pi Wallet, includes features like a stats page and email alerts. The team framed this as progress in expanding the Pi Network ecosystem.
However, many Pi Network users—known as Pioneers—criticized the move. They called it underwhelming and unrelated to their broader concerns. Comments on X and forums show users expected more than a domain tool, especially with Pi2Day approaching.
Pi Network News Global reacted, saying:
“If the Pi2Day announcement consists only of Pi domains and there is no further major news on Pi2Day, a very dark cloud will arise over Pi Network. Pi domains are not a bad thing, but it would be very bad if it stayed with this outdated announcement.”
This reaction followed a sharp drop in the token price. According to market data, Pi has lost 60% of its value over the past month.
Pi Token Volume Highlights Limited Impact of Domain Auction
Since the Pi Domain Auction began more than three months ago, over 3 million Pi tokens have been used in bids. Piscandata shows that these bids total around $1.8 million. However, this is small compared to Pi’s daily trading volume, which exceeds $100 million.
The auction’s financial scale remains minor relative to Pi’s market presence. Pioneers argue that the current domain sales do not move the price or encourage broader adoption. Several users called for updates that address listing delays and KYC (Know Your Customer) progress.
Interest also appears low among startups and businesses. Although the .pi domain concept was meant to resemble Internet DNS naming systems, usage by companies remains limited. The original vision—described by Pi founder Nicolas Kokkalis—involved businesses registering branded domains to engage with the Pi ecosystem. That goal has yet to materialize.
Pi Network Activity Slows as KYC and Listings Remain Stalled
Despite ongoing development of tools like the domain app, the Pi Network still faces delays in core areas. Users continue to report issues completing KYC verification. Exchange listings, a major concern among the community, remain on hold.
Multiple user posts on Pi forums and X show growing dissatisfaction with the network’s pace. Some users believe the recent update does not address key problems such as utility for the PI token or real-world use cases.
The lack of visible startup activity has added to concerns. Even though Pi2Day approaches, no major partnership announcements have surfaced. As a result, engagement with new tools like the .pi domains remains limited.
The upcoming days may show whether the Pi Core Team plans to share additional updates around Pi2Day. For now, most of the network’s focus appears to remain on digital identity tools and internal apps.
PIUSDT Forms Descending Triangle Pattern on June 16, 2025
On June 16, 2025, the Pi Network to Tether (PIUSDT) 1-hour chart displayed a descending triangle pattern. A descending triangle forms when price consolidates between a horizontal support level and a downward-sloping resistance line, often indicating bearish pressure—although breakouts can occur in either direction.
In this case, the price hovered around $0.5999, with the horizontal support at approximately $0.5980 and the descending trendline tightening toward convergence. The 50-period Exponential Moving Average (EMA), currently at $0.6023, remains slightly above the price, suggesting moderate resistance.
If the breakout confirms to the upside, the projected move targets a 7% increase, taking the price toward $0.6443. This target aligns with the previous rejection level seen on June 15, reinforcing its significance as the next major resistance.
Trading volume stands at 579.7K, indicating moderate market participation. A confirmed breakout with rising volume could push the PI token above the current range.
PIUSDT MACD Chart Shows Weak Momentum Near Crossover
On June 16, 2025, the Moving Average Convergence Divergence (MACD) indicator for the PIUSDT 1-hour chart showed declining bullish momentum. The MACD line (blue) currently sits at –0.0009, while the signal line (orange) is at –0.0006. The histogram stands at –0.0003, slightly negative.
The MACD histogram turned red after a brief green period, signaling that bullish strength faded. Earlier, on June 13–14, the MACD had shown a strong upside crossover, pushing the histogram into green territory. That move aligned with a short-term price recovery.
Since then, the MACD and signal lines have started converging again. The narrowing gap suggests indecision. Unless a new trend develops, the indicator may remain flat or produce weak signals.
Overall, current MACD values show no strong momentum in either direction. Traders may look for a clear crossover or divergence before identifying the next possible shift.
RSI Signals Weak Momentum Below Midline for PIUSDT on June 16
As of June 16, 2025, the Relative Strength Index (RSI) for the PIUSDT 1-hour chart stands at 40.97, with the moving average line at 47.40. These values place the RSI below the neutral 50 level, indicating weak buying momentum.
Earlier this week, the RSI rose above 60 during a brief recovery on June 14. However, the index has since trended lower, following the token’s price drop. The latest decline shows fading strength as the RSI dipped from neutral territory toward the oversold threshold of 30.
So far, the RSI has not entered the oversold zone. Instead, it remains in the lower half of the range, reflecting caution among traders. If the RSI continues downward and approaches 30, it may indicate growing bearish pressure unless volume or price action shifts.
The RSI trend aligns with broader market hesitation seen in other indicators such as MACD and price compression in the triangle pattern.