TLDR
- Pi Coin price fell 33 percent within hours after the Pi Network VC fund announcement.
- The cryptocurrency lost 45 percent from its weekly high of $1.5, erasing most gains.
- The Pi Core Team launched a $100 million venture fund to support DApp development.
- The Pioneer community expressed anger over the lack of functioning DApps on the platform.
- Community leaders claim the Core Team has ignored users who helped grow the network.
Pi Coin dropped over 33% in hours after Pi Network announced a $100 million VC fund for DApp development. From a peak of $1.5 earlier this week, Pi Coin now trades at $0.8881. The sharp fall erased nearly $5 billion in market value, triggering massive backlash from the community.
Pi Core Team Faces Growing Backlash
On Wednesday, the Pi Core Team revealed Pi Network Ventures, a $100 million venture capital fund to support DApp projects. However, the announcement triggered anger among Pioneers, who cited the absence of live decentralized applications. Community members voiced disappointment, claiming six years of support have yielded no usable applications.
Many have accused the team of shifting focus from product development to external investments. Despite long development timelines, the promise of 100 functional DApps remains unmet. While the fund aims to attract developers, Pioneers feel ignored after years of platform growth without direct rewards.
Dr Altcoin, a prominent figure in the community, criticized the team’s priorities and transparency. He stated that the Core Team neglected its early supporters while failing to deliver a working ecosystem. The statement gained traction as many users echoed his frustration on multiple community platforms.
Pioneers Claim Undervaluation and Broken Promises
Community members argue that their efforts have not received proper recognition or rewards from the Pi Core Team. According to Dr Altcoin, over 94% of users have not accumulated 1,000 Pi tokens. He attributes this to poor incentive models and limited referral bonuses offered over the years.
Today the Pi Core Team announcement about Pi Network Ventures is nothing short of a betrayal to the Pioneer community, the very people who built this project from the ground up over the past six years.
We waited, we believed, and we contributed under the promise that time was…
— Dr Altcoin (@Dr_Picoin) May 14, 2025
Furthermore, the lack of meaningful rewards has raised doubts about the project’s commitment to its core supporters. Despite contributing to network security and growth, many users feel excluded from the platform’s evolving vision. The community believes their contribution has been sidelined for broader, unproven goals.
The Pi Network currently boasts over 70 million users across 200 countries. However, supporters are questioning the value of their participation without tangible DApps or rewards. Discontent is growing as communication from the Core Team remains minimal.
Pi Coin Volatility Grows as Unlock Adds Pressure
Pi Coin has faced backlash and struggled with high volatility following a 5.2 million token unlock. This token release increased short-term supply, which further impacted the price. As a result, Pi Coin’s trading volume surged 35% to $951 million within 24 hours.
The sharp price movement wiped out nearly all gains made earlier this week. Market participants expect extended price fluctuations before Pi Coin stabilizes above $1 again. The combination of supply pressure and negative sentiment continues to affect market confidence.
Earlier, Pi Coin’s market capitalization had surpassed $11 billion, briefly overtaking Litecoin and Bitcoin Cash. However, it has since dropped sharply, with the current valuation reflecting a 45% weekly decline. The long-term impact will depend on DApp rollouts and community engagement.
#Coin #Plunges #Fund #Reveal #Sparks #Community #Fury
