Pi Network Faces Strong Volatility: Token Price Plummets, Suspicions of "Pumping - Dumping" and Suspicious Wallet Activity

Pi continues to plummet despite the announcement of a 100 million dollar fund, leaving the community confused as the development team announces the recruitment of additional personnel. Price Plummets Despite Good News After reaching a short-term peak of $1.6796 on May 8, the price of the Pi token has sharply declined and is currently trading around $0.75. Although it is still slightly higher than the bottom earlier in April, the price of Pi has significantly decreased from the peak of $2.98 at the end of February. It is noteworthy that even when the Pi Core Team announced a 100 million USD ecosystem development fund on May 14 – news that was expected to boost prices – the market still did not respond positively. On the contrary, some members of the community believe that the announcement of the fund may be creating additional selling pressure instead of supporting the market as expected. Currently, technical analysts are focusing on monitoring the important support level at $0.70. If this level is broken, the 50% Fibonacci support area will be invalidated and may cause the price to plummet to the $0.40 region. New Recruitment Amid Crisis Despite the unstable price situation and the controversies surrounding transparency, the Pi development team unexpectedly announced a new recruitment list.

This move has left the community surprised and raised a big question: Why hire more staff at a time when investor confidence is seriously shaken? Is this a sign that the team is expanding for development, or just a PR move to distract from the increasing suspicions? Suspicion of "Pump and Dump" and Suspicious Wallet Activities The biggest concern of the community right now is not just the falling prices, but also the accusations of "pump-and-dump" ( and the non-transparent wallet management. Many people believe that the Pi development team is controlling more than 10,000 wallets and sub-wallets, although currently only 7 major wallets are easy to track. In the past 5 months, internal transactions between the platform wallets have raised considerable concerns: 5.4 billion Pi has been transferred from Wallet Foundation 1 to Wallet Foundation 3. Approximately 700 million Pi was transferred from Foundation 3 to Foundation 2 in the form of small transactions. More than 1 billion Pi was directly transferred from Foundation 1 to Foundation 2. Currently: The Foundation 3 wallet is holding approximately 4.7 billion Pi. Meanwhile, the Foundation 2 wallet has only about 24 million Pi left. The community demands a clear explanation from the development team regarding these large token movement flows, while also calling for increased transparency and accountability. Conclusion Pi Network is undergoing a tumultuous phase with many questions and pressure from the community. While the token price continues to plummet and suspicious behaviors in asset management are being exposed, moves such as announcing a large fund or recruiting personnel further increase the community's skepticism. Investor confidence is at a "tipping point" – either continue to wait for transparency or abandon a project that is gradually losing credibility.