back to top

Pi Community Types Bearish Wedge After Node Shutdown, Eyes Drop Towards $1.01

Related Article

On Could 14, 2025, the WCT/USDT pair on Binance surged by 24% to succeed...
On Could 12, privacy-focused browser Courageous formally introduced full Cardano (ADA) integration into its...
Synthetix proposed buying Derive, a crypto choices platform previously known as Lyra, by means...
NEAR Protocol has confirmed that it now produces blocks in 600 milliseconds. The replace...
Blockchain infrastructure undertaking Nexus has launched an early airdrop marketing campaign tied to its...
Tuft Token (TUFT), the native cryptocurrency of the Treasure NFT platform, has suffered a...

On Might 14, 2025, Pi Community shut down its central node. The change got here forward of Consensus 2025 in Toronto. The core group additionally plans to launch the Pi Community supply code quickly.

Pi Community VietNames confirmed the transfer on X, saying,

“The Pi core team has closed the central node, ready to release the source code.”

Central Node Shutdown Visible. Supply: Pi Community VietNames on X

The put up included a community diagram exhibiting the central node was eliminated.

The shutdown follows Pi Community’s acknowledged purpose to take away central management and construct a decentralized system. The blockchain makes use of an Improved Proof of Stake (IPoS) consensus mannequin. This replace brings consideration as to if Pi Community now operates independently of its core group.

Pi Community Supply Code Launch to Enhance Transparency

The Pi Community supply code launch goals to extend transparency. Customers will have the ability to see how the Pi Community decentralization course of works. Web3 researcher Tanner acknowledged,

“Transparency Unleashed Anyone can audit the code. No more FUD about “centralized scams” or “hidden logic.” If there’s a bug or a backdoor? You’ll know. If the consensus mannequin is safe? You’ll see it. That is credibility on the blockchain.”

Nevertheless, Pi Community critics say key selections stay within the core group’s fingers. Pi Community’s referral-based mining and supernode mannequin have raised considerations about decentralization.

As reported earlier, the Pi core group nonetheless selects supernodes. It additionally holds about 82.8 billion PI cash. This stage of management continues to boost questions.

The Pi Community central node shutdown was timed to match the beginning of Consensus 2025. The Toronto occasion started on Might 14. Pi Community hinted at a significant reveal in a Might 8 put up.

Pi UpdatesDaily shared a schedule:

“May 14: Announcement from Pi Ecosystem, May 15: Hint of something GREAT/GOOD, May 16: Dr Nicolas himself will speak.”

The put up advised a number of updates have been deliberate.

Pi Network Consensus 2025 Agenda Leak. Source: Pi UpdatesDaily
Pi Community Consensus 2025 Agenda Leak. Supply: Pi UpdatesDaily

One other message from Might 13 mentioned, “2025/5/14—Pi is about to Boom.” These posts got here simply earlier than the Pi Community decentralization replace was confirmed.

Pi Network May 14 Countdown Poster. Source: Pi UpdatesDaily
Pi Community Might 14 Countdown Poster. Supply: Pi UpdatesDaily

Pi Community representatives are attending Consensus 2025. The occasion contains one of many largest blockchain gatherings globally. The Pi Community Consensus 2025 look provides weight to its bulletins.

Pi Community Options Nonetheless Blocked in Some Areas

Regardless of the Pi Community decentralization step, entry to some options stays restricted. In a number of areas, customers report they want a digital personal community (VPN) to make use of features like “lightning.”

Pi  customers additionally stay beneath a closed mainnet system. Coin transfers are restricted. These limits proceed to boost considerations about how open the ecosystem actually is.

The Pi coin has additionally not been listed on any main centralized change. This has saved many customers from utilizing or buying and selling their tokens freely.

On Might 14, each the Pi  app and the Pi Browser acquired updates on the Google Play Retailer. The timing got here hours earlier than the primary Pi Community Consensus 2025 announcement.

Pi Network May 14 Countdown Poster. Source: Pi UpdatesDaily
Pi Might 14 Countdown Poster. Supply: Pi UpdatesDaily

Group leaders identified the replace, highlighting it as a doable hyperlink to the deliberate reveal. The Pi app now has over 100 million downloads. The Pi Browser app has greater than 10 million.

The apps play key roles within the Pi ecosystem. Customers mine the Pi coin utilizing the Pi  app. They entry decentralized functions utilizing the Pi Browser. Even so, exercise and utilization ranges should not totally clear.

PIUSDT Types Rising Wedge After Risky Climb on Might 14

On Might 14, 2025, the PI/USDT buying and selling pair on OKX was priced at $1.1956. The 1-hour candlestick chart exhibits the price shaped a rising wedge sample after a pointy rally between Might 10 and Might 12. The price surged from beneath $0.80 to over $1.60 earlier than retracing and consolidating inside converging trendlines.

PIUSDT Rising Wedge Pattern on May 14. Source: TradingView
PIUSDT Rising Wedge Sample on Might 14. Supply: TradingView

A rising wedge is a bearish chart sample the place the price climbs inside two upward-sloping, narrowing traces. It often seems throughout corrective strikes after sharp positive factors and infrequently results in a breakdown beneath the decrease trendline.

On this chart, the decrease trendline begins close to $1.02, whereas the higher trendline caps out close to $1.40. The price has already examined the decrease boundary a number of instances and is now buying and selling near $1.20. If the wedge breaks to the draw back, the measured transfer suggests a doable 15% drop from the breakout level. That may place the subsequent key goal close to $1.0151, matching the dotted blue line drawn on the chart.

In the meantime, the 50-period Exponential Transferring Common (EMA), at present at $1.1837, acts as dynamic help. The price has moved sideways above this line since Might 13. A agency breakdown beneath the EMA might affirm bearish momentum.

The Relative Power Index (RSI), a momentum indicator, exhibits a present worth of 48.04. This stage is beneath the midline of fifty, signaling weakening bullish energy. Earlier, the RSI crossed above 70 throughout the Might 12 rally, indicating overbought situations, however has since cooled off.

Quantity information exhibits diminished buying and selling exercise following the Might 12 peak. The present hourly quantity stands at 3.66 million PI. Decrease quantity throughout a rising wedge typically precedes a breakout, because it displays reducing curiosity throughout the upward correction.

The sample turns into important as a result of timing. On Might 14, Pi Community shut down its central node and ready to disclose its supply code throughout the Consensus 2025 occasion in Toronto. The price motion seems to have responded to this announcement however stays inside a technical construction that hints at doable draw back motion.

If the sample confirms, the PI/USDT pair might revisit $1.01, a stage that beforehand acted as a help base throughout Might 13’s rebound. This zone additionally aligns with quantity clusters seen within the left a part of the chart, the place consumers stepped in after the sooner drop.

Till a breakout happens, the price will seemingly proceed oscillating between the wedge boundaries. Merchants will watch carefully for a transfer beneath the trendline and the 50-period Exponential Transferring Common to substantiate bearish momentum.

Related Article

On Could 14, 2025, the WCT/USDT pair on Binance surged by 24% to succeed...
On Could 12, privacy-focused browser Courageous formally introduced full Cardano (ADA) integration into its...
Synthetix proposed buying Derive, a crypto choices platform previously known as Lyra, by means...
NEAR Protocol has confirmed that it now produces blocks in 600 milliseconds. The replace...
Blockchain infrastructure undertaking Nexus has launched an early airdrop marketing campaign tied to its...
Tuft Token (TUFT), the native cryptocurrency of the Treasure NFT platform, has suffered a...