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The Pi Network is once again under intense scrutiny following serious allegations from crypto analyst Dr Altcoin, who claimed on May 17 that the project’s Core Team orchestrated a significant sell-off while the token price peaked. As Pi coin drops more than 20% within 24 hours, concerns about market manipulation and transparency have reignited across the crypto community.
Analyst Claims Manipulation Behind Price Rally
In a detailed post shared on social media platform X (formerly Twitter), Dr Altcoin accused the Pi Network Core Team of engineering artificial hype through vague ecosystem announcements and strategic event marketing. According to the analyst, promotions surrounding the upcoming Consensus 2025 conference and the unveiling of the Pi Network Ecosystem—which allegedly includes over 100 decentralized applications (DApps)—were used to drive prices from $0.40 up to a brief peak of $1.60.
However, instead of launching a fully operational mainnet, the Core Team merely introduced a new investment entity called Pi Network Ventures. During this window of inflated market sentiment, Dr Altcoin claims the team liquidated millions—if not hundreds of millions—of dollars worth of Pi tokens, leaving investors blindsided.
Price Plunges Trigger Community Outrage
According to CoinGecko, Pi coin saw a steep decline following its surge, now trading at $0.6883, down over 20% in a single day. At its 24-hour high of $0.937, Pi attracted strong attention—but the subsequent crash has fueled speculation of an internal sell-off strategy.
The market behavior, coupled with the absence of any substantial technical upgrade, has shaken community confidence. Some users accuse the Core Team of deliberate misdirection, suggesting that promises of a mainnet release were used to bait retail investors while the team cashed out at the top.
Turkish NY Radio reached out to Pi Network representatives, but no official response has been made public as of this writing.
Will Pi Return to $0.40?
Dr Altcoin believes the correction may not be over yet. If Pi continues to trade below the key psychological level of $0.80, analysts fear the asset could revisit the $0.40 support zone—a level seen before the project gained broader attention despite lacking listings on major exchanges.
These concerns raise broader questions about Pi’s tokenomics transparency, utility, and long-term project viability. While parts of the community still defend the team’s vision, others argue that the lack of technical delivery undermines trust.
Final Thoughts
The controversy surrounding Pi Network highlights a recurring issue in the crypto industry: the fine line between marketing hype and genuine innovation. Without clarity on token distributions and roadmap execution, investor sentiment remains fragile.
For now, the future of Pi coin will likely depend on whether the Core Team addresses the claims and delivers a functioning mainnet product—before community trust erodes further.
References
- CoinGecko: https://www.coingecko.com/en/coins/pi-network
- Dr Altcoin Official X Account (May 17, 2025 Statement)
