Pi Network Under Fire as Rug Pull Allegations Loom

The Pi Network finds itself at the center of controversy after crypto analyst Dr. Altcoin accused its Core Team of orchestrating a significant sell-off, driving down the token price by more than 20% in a single day. These allegations stem from claims made on May 17th that the team used strategic marketing and vague announcements to hype up prices before liquidating massive amounts of Pi tokens, leaving investors blindsided. This comes after Pi coin surged past the $1 mark on the back of an anticipated mainnet release and promotions surrounding the upcoming Consensus 2025 conference.