Pi Coin (PI) Price Crashes 42% After Disappointing Launch of Pi Network Ventures Venture Capital Fund

The price of Pi Coin PI $0.60 24h volatility: 2.7% Market cap: $4.21 B Vol. 24h: $104.11 M has sharply dropped within hours

The price of Pi Coin (PI) has sharply dropped by 24% within hours after the Pi Network’s highly anticipated announcement revealed the launch of a $100 million venture capital initiative, Pi Network Ventures.

Notably, Pi Coin recently rallied more than 350% from $0.40, driven by mounting hype over a May 14 announcement by the Core team. On a single day last week, prices jumped over 50% in anticipation.

However, instead of optimism, the announcement triggered anger within the Pioneer community, who have long awaited the release of working decentralized applications (DApps) on the platform.

From its recent peak of $1.50 on May 12, Pi Coin has now plunged over 42%. At the time of writing, the 24th largest cryptocurrency is trading near $0.87, down by 30% in the last 24 hours. This decline has wiped out around $2.65 billion from the project’s market cap, which now stands at $6.28 billion.

Community Disappointed

While the announcement of the VC fund was intended to encourage developers to expand the Pi ecosystem, it has instead drawn sharp criticism.

Popular crypto analyst Dr Altcoin noted on X that after six years of community-driven growth, the Core team still hasn’t delivered on their promise of a functioning ecosystem.

He argued that over 94% of active users failed to collect even 1,000 Pi tokens, largely due to the lack of sufficient rewards and referral incentives.

Dr Altcoin conducted a poll among his followers, where 60% expressed frustration with the announcement. The analyst claimed that the loyal users are feeling betrayed. According to him, the community expected “real progress” rather than another promise of future development.

Other users echoed the frustration, pointing to a backlog of unverified KYC processes, slow validator approvals, and stagnant token status. One user remarked that the entire structure was starting to feel unstable.

Long-Term Vision Still Has Supporters

Despite the criticism, not all community members were negative. One X user highlighted that the Pi Network was never about fast profits but building a sustainable ecosystem through collective effort.

Looking ahead, analysts believe that a listing on a major exchange like Binance, Coinbase, or Upbit could significantly improve liquidity and restore confidence in the project.

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.