Despite a 54% drop, Pi Network price prediction remains surprisingly bullish. Can PI defy market doubt and rebound?

Despite a 54% drop, Pi Network price prediction remains surprisingly bullish. Can PI defy market doubt and rebound?Table of ContentsPi Network price takes a hit

The price of Pi Network (PI) has taken a significant hit, with a 54% drop recorded over the past week. Among the top 100 crypto assets, this marks the steepest weekly decline.

This downturn follows a short-lived rally that saw Pi Network surge from $0.78 on May 11 to a peak of $1.61 on May 12.

Within 24 hours, this move translated into a 106% increase. The rally was largely driven by anticipation surrounding Pi Network’s upcoming appearance at Consensus 2025 and early hints at a major ecosystem update.

However, the momentum quickly faded. After the May 14–15 reveal of a $100 million ecosystem fund and a planned 'ownerless' Foundation, sentiment shifted.

The announcement, though sizable on paper, was widely interpreted by community members as yet another delay in actual network access rather than a clear turning point.

As a result, the price fell to $0.68 by May 18, which represents a nearly 58% drop from the May 12 peak.

As of this writing on May 19, PI is trading around $0.71, reflecting a modest 4.4% recovery from the recent low.

In addition, the ongoing lack of exchange listings and persistent KYC limitations continue to restrict trading activity, leaving the price more exposed to perception-driven volatility.

Let’s now look more closely at Pi Network’s current ecosystem, recent technical and structural issues, and what kind of price action can reasonably be expected in the days ahead.

What really happened with Pi Network?

Over the past month, Pi Network made a series of announcements that were supposed to mark a turning point for the project. Instead, they introduced more questions than answers.

The core team had previously hinted at a major ecosystem milestone scheduled for May 14, creating anticipation that the long-awaited decentralized applications would finally become a reality.

Some developments did occur. In early May, Pi Network completed the shutdown of its last remaining central node as part of the Horizon upgrade. This was framed as a step toward decentralization, aligning with earlier claims about preparing the infrastructure for full network autonomy.

The team also signaled plans to open-source its codebase, something community members have been requesting for years as a move toward transparency.

On the accessibility side, Pi partnered with Banxa to integrate fiat onramps into the app, allowing users to buy PI using traditional payment methods like credit cards and Apple Pay or Google Pay.

Notably, this service became available even before users completed the in-app know-your-customer process. While this improved entry points into the ecosystem, it did not equate to actual utility for the token itself.

The key announcement on May 14 was the launch of Pi Network Ventures, a $100 million investment fund aimed at supporting ecosystem development.

Alongside this, the team introduced the concept of an “ownerless” Pi Foundation, meant to provide long-term governance for the network.

While both initiatives are structurally important, neither included a timeline for the launch of widely usable applications. For users who had been mining Pi for years with the expectation of real-world usage, this marked another delay.

This is especially relevant in the context of earlier guidance. Back in February, the team suggested that over 100 decentralized applications would accompany the Open Network launch.

As of now, aside from experimental events like a Pi domain name auction or a small-scale shopping festival, the actual presence of working applications remains limited. There is no clear indication of when that broader app ecosystem will go live.

Further disappointment followed Pi’s appearance at the Consensus 2025 conference. During a keynote, founder Dr. Nicolas Kokkalis discussed long-term visions involving artificial intelligence, digital identity, and decentralized finance.

However, he did not provide a roadmap or dates, leaving many attendees and community observers uncertain about the next steps.

Allegations, confusion, and a trust gap

The past week has not only seen Pi Network’s price fall sharply, but also a visible breakdown in trust within its user base. As the price corrected, community sentiment across platforms like Discord and X turned openly critical.

A growing number of long-time Pi users, known as “Pioneers,” began voicing concerns that the project was being deliberately delayed, with little effort to provide real utility or access.

These frustrations were compounded by fresh allegations. On May 17, an X user known as Dr. Picoin, a Pi-focused community analyst, posted blockchain screenshots claiming that a Pi core team-linked wallet moved 12 million PI tokens close to the time when the token reached its recent high.

In the last 24 hours alone, PCT sold approximately 12 million Pi! @PiCoreTeam@nkokkal