Is Pi Coin a Scam? Investors Flee as Price Crashes 20%

Pi Coin is in free fall, dropping over 20% today and sinking below the $1 mark. This latest dip extends a brutal week, with the cryptocurrency losing more than 43% of its value. Just days ago, it was ranked 11th among top cryptocurrencies – now, it has tumbled out of the top 20.

So, what’s behind this rapid decline? From delayed exchange listings to growing concerns about transparency, Pi Coin is facing a storm of problems. With a massive token unlock just around the corner, could things get even worse?

Here’s what’s happening.

What’s Causing Pi Coin’s Decline?

One of the biggest reasons for Pi Coin’s drop is its failure to get listed on major exchanges like Binance and Coinbase. Initially, investors were hopeful after hints of a potential listing, but when it didn’t happen, demand for the coin fell.

Another major issue is the uncertainty surrounding the Open Mainnet launch. While most crypto projects provide clear timelines, Pi Network has not, leading to speculation about whether the project is reliable.

Is Pi Network a Scam? Experts Weigh In

Dr. Altcoin, a well-known crypto analyst, addressed growing concerns, saying there is no solid proof that Pi Network is a scam. However, he admitted there is a serious lack of communication from the Pi Core Team. He emphasized that better transparency is needed to regain investor trust.

Meanwhile, Justin Bons, founder of CyberCapital, has openly criticized Pi Network. In a series of posts on X (formerly Twitter), he claimed that despite its promises of decentralization, Pi Network remains highly centralized.

Bons also raised concerns about insider influence, suggesting that around 20% of Pi’s total supply may be controlled by insiders. Bybit CEO Ben Zhou echoed these concerns, calling Pi Coin “more dangerous than meme coins.”

Mainnet Delays and Technology Concerns

Pi Network’s repeated delays in launching the mainnet have frustrated investors. Originally planned years ago, the project is now five years behind schedule, raising doubts about its progress.

Bons also accused Pi Network of copying its core technology from Stellar (XLM), casting further doubt on its claims of innovation.

A Massive Token Unlock Could Bring More Trouble

Adding to the uncertainty, Pi Coin’s price has fallen ahead of a major token unlocking event. Soon, 129 million Pi coins—worth approximately $140.61 million—will be released.

Historically, large token unlocks like this have caused price drops, as more coins in circulation can lead to sell-offs. Many Pi Network users, known as Pioneers, have already started locking up their Pi holdings in an effort to protect the price.

What’s Next for Pi Coin?

With delays, transparency concerns, and an upcoming token unlock, Pi Coin is facing serious challenges. The Pi Core Team must act quickly to restore confidence by providing clearer communication and concrete progress. Until then, uncertainty remains high, and investors are watching closely.