Pi Network Founder Called a Fraud After Defending Price Crash — You Won’t Believe What He Said!

Jakarta, Pintu News – The cryptocurrency market has been struggling lately, and Pi Network is no exception. Pi Coin’s price recently dropped below $0.50, even touching $0.47 before recovering slightly.

As of June 23, Pi is trying to hold above $0.50, which is now an important support level.

However, it’s not just Pi that’s having a tough time. Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have also taken a hit due to the rising tensions between the United States and Iran. Bitcoin even dropped below $100,000 for the first time in months.

Pi Network Founder Steps in to Appease Supporters

As the price of Pi continued to decline, Pi Network founder, Dr. Nicolas Kokkalis, took to social media to respond to anxious investors, known as Pioneers.

Read also: Pi Network Jumps 5% Today (June 24) – Is This the Calm Before a Pi2Day Price Explosion?

He assured them that this was just a temporary phase in the market, not a permanent crash.

However, not everyone was convinced. One frustrated user commented, “Are you a scammer or a criminal? Is Pi falling every day? Support Pi and raise its value.”

In response to this, Dr. Kokkalis replied, “Do you understand crypto? Why are other cryptos going down too?”

However, the user remained dissatisfied and said, “Since I bought the Pi, the price has continued to drop. I’ve seen 3 increases and 5 decreases. I no longer believe in Pi. I will cut my losses and will not invest in companies like yours.”

Will Pi Fall Below $0.40?

On June 23, Pi Coin was under pressure. Experts state that it will take positive changes in the market for its price to rise back above $0.60.

Read also: What is Pi2Day? Pi Network’s Big Day that Could Change the Fate of the Pioneers!

Crypto analyst, Dr. Altcoin, predicts that Pi is now in the $0.40 range and will likely stay at that level until the end of August.

He also mentioned that the upcoming Pi Day 2 event will likely not be able to push prices higher.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpedia. Pi Network Founder Slammed as ‘Scammer’ for Defending Price Crash; He Responds. Accessed on June 24, 2025