Pi Network Down 33%, Price Below 1 USD: Community Outraged

Pi Network has recently seen a bullish rise to 1.40 USD after a 100% increase, but has now fallen by 33%, trading around 0.86 USD. This sharp decline occurred after the announcement on May 14 from the core team of Pi, leaving many supporters disappointing and angry.

What event took place?

On May 14, the core team of Pi announced Pi Network Ventures—a $100 million investment program aimed at supporting startups and businesses to promote the use of Pi cryptocurrency in practice. This fund, held in the form of Pi and USD, aims to support innovative projects across various industries to develop the Pi ecosystem. Users can learn more directly from the Pi Network app.

Why is the community outraged?

Cryptocurrency analyst, Dr. Altcoin, criticized this announcement on social media, calling it a "betrayal." He argued that this update, with the launch of Pi Network Ventures, has ignored the efforts and loyalty of the community that has built Pi over the past six years. "We waited, we believed, and we contributed," he wrote. "Now, we are informed that the actual decentralized applications that the team promised do not yet exist—and 100 million USD will be used to finally build them."

Other concerns from the community

Dr. Altcoin also pointed out that the majority of users, known as Pioneers, have not even earned 1,000 Pi Tokens due to the team's decision not to reward referrals. "This is unfair and shows that the community's efforts have been overlooked," he said. With over 70 million users worldwide, Pi Network's growth is not due to investors, but to the users themselves. Currently, many Pioneers feel forgotten as the team focuses on big ambitions and new projects.

"The silence from the core team is truly disgusting," Dr. Altcoin added. "Pioneers are not just users—we are the foundation of the Pi Network."

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