Something Big Happened on June 6 — The Pi Core Team Just Confirmed It

June 6 wasn’t just another quiet day in crypto. The Pi Core Team dropped a series of crucial updates that every investor and Pi Network supporter needs to pay attention to. From wallet security reminders to looming token unlocks and a long-awaited mainnet migration update — the Pi Network has made it clear: big things are moving under the surface.

Let’s break down exactly what’s going on, and why now is the time to stay alert.

Your Wallet Could Be at Risk — Here’s How to Stay Safe

The Pi Core Team issued an urgent reminder: only use your passphrase on the official Pi Wallet at wallet.pinet.com — accessed via the Pi Browser. Scammers are growing more aggressive, creating fake apps and phishing portals that look identical to the real thing. One key visual cue? The official Pi Wallet has a purple navigation bar with the Pi logo. Any other variation is a red flag.

The team also made it clear: they will never ask for your 24-word passphrase, whether by email, social media, or direct message. If you’re being asked for it, you’re being scammed.

If you’re planning to migrate your tokens or interact with the Pi Wallet in any way, double-check everything. It’s not just a precaution — it’s essential for protecting your tokens.

Pi Network Mainnet Migration — 12 Million Users In, But Still a Long Road Ahead

After months of questions, the Pi Core Team shared a breakdown of its three-phase Mainnet migration plan:

1. Phase 1 covers base mining rewards, security circle bonuses, node contributions, and lockups.

2. Phase 2 introduces referral mining bonuses — but only for users whose entire referral teams are KYC verified.

3. Phase 3 involves ongoing, periodic migrations to bring the rest of the ecosystem on-chain.

So far, over 12 million users have successfully migrated — an impressive milestone by any standard. But for millions of others, balances remain locked or partially migrated, with no official timeline released for when the full transition will happen.

Despite the progress, frustrations are mounting. The team is urging patience, but for many users with large referral teams and delayed rewards, the wait is becoming harder to justify.

PI Price Today: Volatile, With Bearish Signs

Pi Coin price

Source: CoinMarketCap

After a wild mid-May pump (from ~$0.60 to ~$1.70), the PI token has cooled off, now hovering around $0.62–$0.65. Short-term technical indicators suggest a consolidation zone — neither strongly bullish nor sharply bearish.

Momentum is weak, with the RSI hanging near neutral and volume thinning out. Many traders are watching $0.55 as a key support level. If it breaks, we could see a dip back toward $0.40. On the flip side, reclaiming the $0.70–$0.75 range could breathe life back into the bulls.

In the short term, price action remains muted — a typical “calm before the storm” pattern that often precedes volatility.

276 Million Pi Coins Are Unlocking — Here’s Why That Matters

Here’s the kicker: 276 million PI tokens — worth over $175 million at current prices — are set to unlock in June.

This token release includes developer and miner allocations, and it’s one of the largest scheduled unlocks in the Pi Network’s history. If even a fraction of these tokens hit the market, it could introduce heavy sell pressure, especially in the absence of major new buyer interest.

Combine this with the subdued trading volume and lukewarm sentiment, and it becomes clear — June could be a make-or-break moment for PI’s price.

Interest in Pi Is Falling — But Pi2Day Could Change That

Despite the network's technical momentum, user interest is fading fast. Google search data shows Pi Network sitting at its lowest point of global visibility this year. Trading volumes on unofficial PI markets have also nosedived, with a 90%+ drop in daily liquidity since May.

That said, there’s still a wild card: Pi2Day on June 28. This annual community celebration is expected to bring announcements, updates, and — hopefully — a few surprises. Rumors are swirling about potential exchange listings or major partnerships, but nothing has been confirmed by the Core Team yet.

If you're holding or watching PI, mark your calendar. Pi2Day could either reignite momentum… or prove to be another overhyped moment if big announcements don’t materialize.

What Investors Should Do Now

With over 12 million users on-chain, a defined migration roadmap, and a potential Pi2Day catalyst on the horizon, Pi Network is showing signs of movement. For investors, June is packed with possible triggers: a major token unlock, a volatile price range, and an event that could swing sentiment. Whether you’re already holding PI or just watching from the sidelines, now is the time to stay sharp.

And most importantly — protect your assets. Scammers are circling, and your best defense is caution. Never share your passphrase, and only interact with verified Pi platforms.

Big things are happening. But whether they’re breakthroughs or breakdowns depends on what comes next.