Pi Network Drops to $0.86 — Has Pi Coin Just Lost Its Spot in the Crypto Elite?

Jakarta, Pintu News – Pi Network’s price plummeted 33% in just a few hours after Pi Network announced a $100 million venture fund (VC fund) on May 15, 2025 yesterday.

The announcement sparked a backlash from the Pioneer community due to disappointment with the lack of decentralized applications (DApps) that actually work.

Previously, Pi Network (PI) coin had touched a high of $1.50 earlier this week. But now, its value has dropped by around 45%, erasing almost all the gains made throughout the week.

Then, how will the Pi Network price move today?

Pi Network Price Rises 1.7% in 24 Hours

On May 16, 2025, the price of Pi Network (PI) was recorded at $0.86, having risen 1.7% in the last 24 hours. If converted into today’s rupiah ($1 = IDR 16,409), then 1 Pi Network is IDR 14,112.

Read also: Pi Network Price Prediction: Will the Opening of 265 Million Tokens Derail the 234% Rise?

In the last 24 hours, PI price moved in the range of $0.8363 to $0.9357. Currently, PI’s market capitalization stands at $6.14 billion, with a fully diluted valuation (FDV) of $9.45 billion.

Trading volume in the last 24 hours stood at $506 million, indicating that market interest is still quite high.

Why is Pi Network’s price plummeting despite $100 million in VC funding?

On Wednesday, the Pi Network core team announced the launch of Pi Network Ventures, a $100 million venture fund aimed at funding projects and startups building decentralized applications(DApps) in the Pi ecosystem.

But instead of being welcomed positively, this announcement was heavily criticized by the Pioneer community.

Many community members feel betrayed that to date there hasn’t been a single DApp that actually works on the Pi platform, even though the project has been running for six years.

One of the well-known figures in the Pi community, Dr. Altcoin, expressed his disappointment publicly:

“Today’s announcement of Pi Network Ventures by the core team is nothing short of a betrayal of the Pioneer community – the people who have built this project from scratch over the past six years. We waited, we believed, and we contributed with the promise that time was needed to build a robust ecosystem with 100 real, working DApps. Now, six years later, we’re being told that the promised DApp doesn’t even exist.”

This disappointment became one of the main factors that triggered a sharp drop in Pi Coin’s price, although logically, the launch of such a large fund should have given a positive signal.

The reality that old promises have not been fulfilled seems to have more impact on market confidence.

Is the Pi Network Team Starting to Neglect the Core Community?

Community leader, Dr. Altcoin, has again come out with sharp criticism of the Pi Network core team. He alleges that the core team has begun to ignore key community members and does not value their contributions over the years.

Read also: Pi Network Shuts Down Central Nodes: A Big Step Towards Decentralization?

According to him, more than 94% of Pioneers failed to collect 1,000 Pi tokens due to the core team’s perceived reluctance to provide referral bonuses fairly.

“It’s not just unfair; it’s clear evidence that the community’s contributions have been undervalued,” said Dr. Altcoin.

The Pioneer community alone consists of over 70 million members in 200 countries, which over the years has been the main foundation of Pi Network’s growth. However, Dr. Altcoin believes that Pi Network’s grand ambitions to reach the global market are at the expense of the interests of the core community that built the project in the first place.

“The silence of Pi’s core team towards protecting the interests of its community is striking. Pioneers are not just users – we are the stakeholders, the foundation, and the reason Pi Network exists,” he emphasized.

Amidst the community’s discontent, crypto exchange Binance also took a shot at Pi Network.

In an attention-grabbing statement, Binance said that Pi developers have “zero sense in design.” Many suspect this is a signal that Pi Coin will not be considered for listing on Binance anytime soon.

This situation reinforces the concern that Pi Network is drifting further away from its own community – a community that has believed in, built, and promoted the project to the rest of the world since its inception.

Pi Coin Thrown off the Top 20 Crypto List

After experiencing a price spike of up to $1.5 earlier this week, Pi Coin’s market capitalization skyrocketed to $11.12 billion, surpassing even Litecoin and Bitcoin Cash.

However, the euphoria didn’t last long. In the last three days, Pi Coin’s market value shrank by almost $5 billion, signaling that the hype from the latest announcement is fading fast.

Furthermore, another cause of the price drop was the unlocking of 5.2 million tokens, which sparked fears of selling pressure. Traders also expect further volatility before Pi Coin can break the $1 mark again.

This situation shows that the hype of the Pi Network core team is not strong enough to maintain the trust of the Pioneer community. Disappointment began to set in after big promises were not accompanied by tangible achievements.

Now, all eyes are on Pi Network Ventures’ next steps-whether they can deliver concrete projects that can restore market sentiment and prove that the Pi ecosystem is indeed viable for the future.

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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:

• Coingape. Pi Coin Crashes 33% as Pi Network Community Screams Betrayal from Core Team. Accessed on May 16, 2025
• Coinpedia. Pi Network Drops 33%, Falls Below $1 Amid Accusations of Betrayal from Community. Accessed on May 16, 2025