The Pi Coin community is in turmoil. In what many Pioneers are calling a “betrayal,” the Pi Network’s native token saw its price crash by 33% shortly after the core team unveiled a $100 million venture capital initiative. The sudden shift in sentiment underscores deep-rooted frustration from early adopters who feel sidelined in the project’s evolution.
From Promise to Panic
Earlier this week, Pi Coin was riding high. It touched $1.50, climbing into the top 20 cryptocurrencies by market cap, and briefly surpassed legacy players like Litecoin and Bitcoin Cash. But just as quickly as it ascended, Pi’s value tumbled—dropping over 45% from its peak and wiping nearly $5 billion from its market capitalization in less than three days.
The source of the backlash? The Pi Network Ventures fund. On the surface, a $100 million investment in ecosystem growth should be a positive. However, longtime Pioneers were quick to point out a glaring contradiction: after six years of waiting, they still haven’t seen a single fully functioning decentralized app (DApp) launched on the Pi Network.
Dr. Altcoin, a prominent voice in the Pi community, didn’t mince words: “This announcement feels like a slap in the face to the people who’ve been here since the beginning. We were promised time to build a real ecosystem with real apps. But six years later, the Core Team is prioritizing VC headlines over actual delivery.”
Neglected Stakeholders?
Dr. Altcoin went even further, accusing the Pi Core Team of failing its most loyal contributors. “Over 94% of Pioneers couldn’t even accumulate 1,000 Pi tokens due to restrictive referral policies. We helped build this from nothing, yet we’re left unrewarded.”
With over 70 million users spread across 200 countries, the Pi Network community has long prided itself on grassroots engagement. Now, many of those early supporters are questioning whether their efforts were valued at all. The mood has shifted from optimism to skepticism.
“The silence from the Core Team is deafening,” Dr. Altcoin emphasized. “We’re not just users; we’re the reason Pi Network even exists. And right now, we feel abandoned.”
Binance Throws Shade
To add fuel to the fire, crypto giant Binance appeared to mock Pi Network’s design efforts in a cryptic social media post, suggesting the platform lacks basic polish. Though no names were directly mentioned, the implication was clear—and it likely hints that a Pi Coin listing isn’t on Binance’s radar anytime soon.
The Aftermath: Can Pi Recover?
At the time of writing, Pi Coin is trading at $0.8881, down 32% on the day. Trading volume, however, has spiked to over $950 million, suggesting traders are positioning for either further downside or a possible recovery. A recent unlock of 5.2 million tokens has also contributed to short-term selling pressure.
Despite the sharp correction, all eyes are now on the newly announced Pi Network Ventures. Will this fund actually accelerate the development of DApps and restore trust? Or is it just another distraction while the real promises remain unfulfilled?
For now, the Pioneer community remains wary. Trust, once shaken, is hard to rebuild. If the Pi Core Team hopes to regain momentum, it will need to deliver more than flashy announcements—it must show real, working products that validate the years of belief and participation from its earliest backers.
