Pi Coin Tumbles 20% from $1.60 to $0.70 as Dr Altcoin Accuses the Core Team of Pre-mining

Dr Altcoin warns Pi may fall to $0.40 amid KYC privacy risks; contrarian Mr Spock calls it FUD and expects a rebound.

Popular crypto analyst Dr Altcoin is raising serious concerns about Pi Network, warning of a potential price drop to $0.40 and a core team that may no longer need the pioneers who helped build the network.

Here’s a breakdown of the key issues highlighted by the analyst:

* Dr Altcoin claims that all Pi Coins were pre-mined, giving the core team (which is composed of Stanford University professors) complete control over the token’s supply and price. This stands in direct contrast to the assertions made by the team in a recent interview with Consensus 2025.

* The analyst adds that during the Consensus 2025 hype, about 12 million Pi Coins were sold by the core team, which he calls a “rug pull” in plain sight. However, some members of the Pi Network community argue that there’s no on-chain proof of the core team selling any tokens. They suggest that these were routine transfers to pioneer wallets, not evidence of a sell-off.

* Dr Altcoin also expresses worries about the new automated KYC process, which he says may compromise user data privacy and weaken verification standards. With less oversight, he warns that the system may become more vulnerable to misuse.

* The analyst believes the price could fall further and advises users to wait until it drops to around $0.40 for a better entry point. He’s demanding that the core team offer a public explanation for the recent crash.

However, another crypto analyst, Mr Spock, has a contrarian view. He thinks this is just a temporary dip caused by FUD (Fear, Uncertainty, Doubt). Mr Spock highlights Pi’s strong community and growing utility, adding that it’s still valuable despite the recent plummet.

"Don’t fall for the panic. Pi Network is still valuable. It has a strong community, growing utility, and a unique use case. Those who bought high will surely get hit the worst. But it will pass. New all-time highs will be set. Don’t get caught up in the FUD. Pivot to the good times and enjoy the ride," Mr Spock advises.

He warns that short sellers may be spreading false narratives to scare new investors, especially since many Pi holders are new to crypto and may be easily panicked by rumors.

The post Pi (PI) May Drop to $0.40, Warns Analyst, as FOMO May Be Over appeared first on Benzinga.

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