Pi Coin Slips Despite Crypto Market Rally: Is Pi Network a Scam?

Key Insights:

• Pi Coin price dip sparks intense debate about the project’s legitimacy and future.
• Analyst Dr Altcoin defends Pi Network, citing its strong compliance measures and other features.
• Looming token unlocks and a lack of clarity weigh heavily on Pi Coin’s price performance.

Pi Coin price has continued to bleed, moving in the opposite direction of the broader crypto market. Amid the topsy-turvy scenario in the asset’s momentum, the Pi Core Team is facing heavy backlash from the community members due to a lack of transparency and other factors.

Besides, the discussions are also soaring on social media platforms about whether the Pi Network is a scam.

Notably, PI has long faced allegations of being a scam project, especially before its mainnet launch in February 2025.

However, since its mainnet launch, the crypto has gained notable traction, but the momentum was not sustained for long.

Pi Coin has slipped from its all-time high of $2.98 to as low as $0.4, which has sparked discussions in the market.

Pi Coin Price Slips: More Dip Ahead?

Pi Coin price has shed around 2% today and rested below the $0.44 mark, but its trading volume rose around 14% to $99.68 million.

The gloomy performance of the crypto is further evident by its monthly loss of 22%, while its weekly chart shows a plunge of 8%.

The ongoing retreat comes despite a broader crypto market rally. However, it’s worth noting that BTC price was marginally down today but traded above $118,300.

Meanwhile, Pi Network has moved between $0.4326 and $0.4537 over the last 24 hours, struggling to find a catalyst to boost its value.

Amid this, discussions are soaring about whether crypto could witness further decline ahead, potentially below its all-time low.

While analyst Dr Altcoin has previously refuted claims over Pi going down below $0.4, the current market trends speak otherwise. For context, the Pi community is actively criticizing the Pi Core Team for a lack of transparency.

In addition, the looming token unlocks, worth millions of dollars, have further weighed on investors’ sentiment.

Amid this, many are calling Pi Network a scam, which raises concerns over a further dip in the asset’s value.

Pi Network Faces Scam Allegations, But Analyst Defends

Pi Coin faces immense pressure, with many questioning whether the project is a scam. However, this has led analyst Dr Altcoin to step in and defend the project, citing key reasons.

Dr Altcoin has highlighted Pi Network’s revolutionary approach and compliance measures as evidence of its legitimacy.

Despite the lack of fully functional utilities, he noted that the project consistently ranks among the top 30 crypto, with its current market cap of $3.39 billion.

Meanwhile, the analyst pointed out that every user must pass Know Your Customer (KYC) verification.

Besides, every business must undergo Know Your Business (KYB) verification. According to Dr Altcoin, this level of compliance is rarely seen in early-stage crypto projects.

This rigorous approach has set Pi Network apart from others in the industry. The expert believes that the true organic value of Pi will emerge as the AI App Studio becomes fully operational.

In addition, the $100 million Pi Network Ventures fund to support ecosystem growth has further bolstered confidence.

Moreover, Dr. Altcoin highlighted that Pi Network is the only crypto that has made KYB approval mandatory for businesses to list and trade Pi.

Major exchanges such as OKX, MEXC, and BITGET have undergone the KYB approval process, demonstrating their confidence in Pi Network’s potential and its large user base.

Notably, these key features of Pi Coin have helped alleviate some concerns, indicating his strong confidence in the project.

Why is Pi Coin Value Falling?

A flurry of factors might have contributed to the recent losses in Pi Coin price. As said earlier, many investors might be waiting on the sidelines, seeking more clarity from the Pi Core Team on the project’s future path.

In addition, the looming token unlocks might have also impacted the risk-bet appetite of traders. A total of 304.93 million PI, worth $162.71 million, is scheduled to unlock through July.

Meanwhile, the number of unlocks in August and September will be 132.77 million and 115.46 million PI, respectively.

Analysts have flagged this soaring supply and lack of demand as the core reason that has continued to impact Pi Network’s price.