Pi Network Under Fire as Token Price Plummets and Insider Wallet Activity Raises Concerns - Coinfea

After the value of its token declined sharply, many are questioning the fairness of insider decisions in Pi Network

ContentsCommunity split over insider activityPI token sees major price dropNew upgrades unveiled at consensus 2025Individuals from the community have mentioned a rug pull could occur, as many sell-offs have been caught on the blockchain. The controversy began when well-known community figure Dr Picoin claimed insiders sold millions of tokens shortly after updates were announced at Consensus 2025.

Community split over insider activity

Dr Picoin suggested that the developers of Pi Core sold millions of PI tokens while optimizing trading volume with marketing. He explained that the updates strongly increased the price, allowing people close to the project to sell when others were focused on what it might do. As proof of his claim, blockchain data reveals that a wallet under Core Team management sent out 12 million PI in a single day. At the same time, some people from the community challenged the accusations against Zodiac. The Pinewszone account said the wallet sends funds to the public mainnet wallet. They urged users not to sell their tokens due to false information.

## PI token sees major price drop

The price of PI has fallen by more than 50% over the last week. Once it hit $1.60 on May 12, the token quickly dropped to $0.679 which was 58% lower. More users are getting angry because they felt the significant milestone promised at the recent announcement did not occur. Many users were expecting the announcement of the start of the switch to the mainnet. Nevertheless, the news was focused on the Pi Network Venture Fund which plans to award $100 million to help the Pi Network expand. Because of this, more people became disappointed and sold their assets contributing to the panic. There is less trading taking place on PI. The market value of all cryptocurrencies decreased by 34% in 24 hours, falling far from the May 13 top value of $2.03 billion.

## New upgrades unveiled at consensus 2025

Despite growing tension, Pi Network continues to introduce updates. Founder Dr Nicholas Kokkalis announced that the network has disabled its central node, a step toward decentralization. He also introduced Horizon, a new node software version that improves security and performance.

Kokkalis said Pi Network would integrate artificial intelligence and encouraged AI developers to build on the platform. He added that technical upgrades will continue as the project works toward its mainnet launch.