Pi Network Navigates Volatility and Scrutiny Amid Price Swings
Pi Network’s token has shown significant price volatility, dropping to $0.75 after briefly spiking to $1.6796 on May 8. The decline follows allegations of a pump-and-dump scheme and suspicious wallet activity, raising concerns about the project’s integrity.
Despite these challenges, the Pi Core Team announced new job openings and a $100 million ecosystem fund to accelerate network development. The community remains divided, with some seeing the fund as a bullish catalyst while others stay cautious amid the ongoing price correction.
The token has retreated substantially from its late-February all-time high (ATH) of $2.98, highlighting both market pressures and reputational risks as Pi Network works to establish credibility in the crypto space.
