Rug Pull allegations on PI Network, what is the truth?
May 19, 2025
There was a lot of discussion and upheaval among the users of Pi Network. When the Pi Coin Price suddenly fell from $ 1.60 to $ 0.679. After this decline, many users on social media have accused the core developers of Pi Network of “Rug Pull”. A well-known member of Pi Community Dr. Altcoin has claimed that the Insiders sold Millions Pi Token, just before this decline. However, till the news is written, Pi Coin has seen recovery and is trading at $ 0.73.
What said Dr. Altcoin?
Dr. According to AltCoin, the members of Pi Core Team saw the price of tokens rising after some big announcements during the CONSENSUSS 2025 Event and then took advantage of that opportunity, not millions, but sold millions of Pi coins.
In his words:
“The core team sold Pi Coin when the entire community was busy with the false expectations of new announcements and progress.”
Dr. According to Altcoin’s claim, this entire activity is already planned, as the wallet that is being linked to the Pi Core Team was transferred 12 million Pi Token in the last 24 hours.
Some users told allegations wrong
However, some others gave Dr. Altcoin’s claims are misunderstood. A X user named “Pinnewszone” wrote that this wallet is actually a distrbuction wallet, which Core team only uses to transfer users’s balances to the mannet.
He said:
“Core Team is not selling tokens, but this confusion is being spread so that you can sell tokens in an environment of fear and some people can buy cheaply.”
Pi Core Team’s silence and FUD spread
The most important thing among these allegations is that Pi Core Team has not given any official statement so far. This silence has created an atmosphere of fear (FUD – Fear, Uncertain, Doubt) among the users.
The price falls and its reason
The price of Pi Token reached $ 1.60 on May 12, but suddenly fell to $ 0.679. This is a decline of about 58%. One of the major reasons for this decline is that users hoped that this announcement was being awaited for a long time. Pi coin listing on binance Will be related to
Trading volume also falls heavy fall
According to Coinmarketcap, Pi Token’s 24 -hour trading volume has fallen by 34% to $ 265.28m million. Whereas on 13 May this volume reached $ 2.03 billion. This indicates that users sold tokens in the middle of rumors and as soon as the announcement took place, the trading volume declined. But in the announcement made on 14 May Pi Network Ventures Launch invested $ 100mThis news did not find users very attractive and started selling tokens.
What happened in Consensus 2025?
Consensus 2025 Founder of Pi Network Dr. Nicholas Kokkalis announced some technical updates:
-
Now the Central Node of Pi Network has been discontinued so that the network can become fully decentralized.
-
A new software version “Horizon” has been launched for Node Operators.
-
Pi Network will now integrate with Artificial Intelligence (AI).
-
AI companies have been invited to make DApps on the network.
Conclusion
PI Network is surrounded by controversies and uncertainties these days. On the one hand, the silence of the core team is making users into confusion, while on the other hand some people are considering this decline as a chance to buy. If you are investing or want to invest in Pi Token, it is very important to understand and research the current situation carefully. In the coming few days, it will be clear whether it was only a rumor or really a big truth related to Core Team will be revealed.