Is the Pi Network Dead? Pi Coin Price Plummets Causing Concerns

In the past 24 hours, the Pi Network community has been in shock as the price of Pi Coin has plummeted sharply, falling more than 20% from a recent peak of 1.60 USD to just 0.7017 USD. This sudden drop occurred right after the wave of expectations from the Consensus 2025 event, where the Core Team promised to launch the official Mainnet and build a robust ecosystem. However, according to a well-known analyst in the Pi community – Dr. Altcoin, behind this event are worrying signs that could even completely change the way millions of users view the Pi Network project. Does the Core Team No Longer Need the "Pioneers" Community? Dr Altcoin pointed out that recently, the Pi development team tends to ignore the community that helped build the network: Last March, they also called on "Pioneers" to actively promote the project. The Core Team stated it took 6 years to bring Pi Network to a "ready-to-use" level. However, since receiving funding from Pi Network Ventures, it seems they have started to push the community aside. Notably, Dr. Altcoin also discovered that in recent updates, the development team no longer uses the term "Pioneer" – a term that was once seen as a symbol of the contributions and sacrifices of millions of users. The Truth About "Mining Pi": Has Pi Been Pre-mined From The Start? Another controversial accusation from Dr. Altcoin is that the entire amount of Pi Coin has been "pre-mined" – meaning it was mined beforehand by the Core Team, rather than actually being created through the mining process by users. This denies the popular belief that users are "mining Pi" daily, and raises a significant question about the decentralization of the project. If the Core Team holds the majority of the Pi supply, they can completely control the price and liquidity – which goes against the spirit of a transparent and fair blockchain project. Is There a Silent Sell-Off Happening? Dr. Altcoin revealed that approximately 12 million Pi Coins were transferred during the Consensus 2025 event. He referred to this as a "public rug pull" – implying that the Core Team secretly sold off tokens while public opinion was being distracted by promises of DApp and Mainnet. However, not a few members of the community refute this, claiming that there is no clear on-chain evidence proving the act of selling Pi. Some people believe that this is just an internal transfer to the wallets of Pioneers, rather than a sale to the market. Automated KYC: Convenience or Trade-off of Privacy? Another concern comes from the new automated KYC system that Pi Network has just implemented. Dr. Altcoin warns that this process may pose risks to personal data security and reduce transparency in identity verification. Automating the KYC process without strict controls can lead to security vulnerabilities and pave the way for fraudulent activities or exploitation. Price Forecast: Will Pi Coin Drop to $0.40? According to Dr. Altcoin's assessment, Pi Coin may continue to fall, and he advises users to wait for the price to drop to the $0.40 range before buying in to ensure lower risk. He also calls on the Core Team to publicly explain the reasons behind this price plummet to reassure the community. Optimistic Perspective: Is It Just Temporary FUD? Contrary to the pessimistic view, analyst Mr. Spock believes that this is just a short-term correction due to FUD (fear, uncertainty, and doubt). He emphasized that Pi Network still has a strong community, along with the potential to build an ecosystem and real-world applications. According to him: "Pi Network still has value. Don't panic because of false rumors." Mr. Spock also warns that short-selling speculators may be deliberately spreading negative rumors to confuse new investors – those who have little experience in the cryptocurrency market. Conclusion: What Future Awaits Pi Network? The plummet of Pi Coin not only caused the value of the currency to fall sharply but also raised a series of questions about the transparency and development direction of the project. Is this just a normal correction, or is it a sign that the loss of confidence is gradually spreading within the community? The answer now depends on the level of transparency and the response of the Pi Core Team in the coming time.