$Pi Network Price Freefalls 60%— Faces Community Backlash

On 14th May, the Pi core team announced a $100 million VC fund, Pi Network Ventures, to support DApp development. But many in the PI community aren’t buying it. With no working apps to date, critics like Dr Altcoin say the announcement feels hollow, accusing the team of losing sight of core promises made to early adopters. 

“We waited, believed, and contributed,” Dr Altcoin said. “Now we’re told that the real DApps (decentralised apps) the team promised still don’t exist—and that $100 million in value will finally be used to build them. That value came from the trust and efforts of the Pioneer community,” he added.

Instead of fueling growth, Pi Network’s $100 million venture capital reveal has sparked a meltdown. Just as excitement peaked with the announcement of  $Pi reaching $1.50, the coin tanked within hours. It shed 33% of its value. Over the past week, Pi network price crashed over 57% and $6 billion in market cap wiped out. Now, it’s down more than 13% intraday, and nearly all recent gains are gone. 

What was supposed to be a vote of confidence has cast a shadow of doubt. For many in the Pi community, the timing feels off, and the messaging is unclear. The sudden shake-up might prove costly for a project built on long-term faith. The hype machine misfired, and Pi Network now faces its most critical moment yet.

Read about Pi Network’s Price Prediction for 2025.

$100M Fund, But No Real Utility Yet

The market didn’t crash because of the VC fund—it crashed because of what wasn’t said. Where are the DApps? Where are the open magnets? Pi Network’s latest announcement only reminded users of what is still missing. After years of mining and waiting, users wanted functional tools, not future funding dreams. The project remains locked in a testnet loop with no open mainnet and unclear token timelines. It hasn’t even crossed the starting line for a blockchain aiming to lead the Web3 future.

The Empire Wobbles

In the relentless terms of the crypto cycle, narratives can crumble overnight. Once a darling of mobile-first blockchain evangelism, Pi Network is now under scrutiny. The veneer of mass adoption is cracking under the pressure of persistent delays and a lack of functional output. The Web3 space no longer celebrates potential demands for delivery without fundamental tools, and with this, Pi’s empire risks becoming a monument to missed opportunity.

Pro Tip: Don’t just follow buzzwords if you are holding or trading $Pi. Wait for confirmed progress and live products before betting on long-term gains.