Pi Coin Drops by Over 20% in a Single Day, Wiping Out Recent Gains and Shaking Confidence Across Its Massive User Base

The drop has rekindled suspicions about the project's leadership and raised new questions about its direction.

Optimism sparked by Consensus 2025 has evaporated as quickly as it arrived, with Pi Coin plummeting by over 20% in a single day. This move has wiped out recent gains and threatens to shake confidence across the project’s massive user base.

The drop has also notably brought renewed suspicion towards the project’s leadership and raised questions about its direction.

At the heart of the backlash is growing concern that the Pi Network’s Core Team is drifting away from its early community-first ethos. The disappearance of the term “Pioneers” from recent official communications has fueled this suspicion.

One analyst, known as Dr Altcoin, said the team is "quietly distancing" itself from the user base that helped the project get this far. He also highlighted an ongoing controversy surrounding the notion that Pi Coin was fully pre-mined. If true, this would mean supply control lies heavily in the hands of the Core Team, undermining the network’s decentralized image.

This suspicion was furthered when 12 million Pi tokens were moved during peak market hype, leading some to believe a hidden sell-off took place. While no hard blockchain evidence has confirmed a liquidation, the timing has drawn scrutiny.

Concerns were also raised over the project’s automated KYC system, which some argue sacrifices data privacy for efficiency.

However, despite the doom and gloom, not everyone is convinced the project is in trouble. Some analysts remain optimistic, viewing the price dip as temporary and driven by panic rather than fundamentals.

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