Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Cryptocurrency Drops Out of Top 20 After 33% Decline
    Cryptocurrency

    Cryptocurrency Drops Out of Top 20 After 33% Decline

    May 15, 20254 Mins Read


    TLDR

    • Pi Coin crashed 33% in price following the launch of a $100 million VC fund
    • Market cap plummeted by nearly $5 billion, dropping out of top 20 cryptocurrencies
    • Pioneer community expressing frustration over lack of functioning DApps
    • Community leaders accuse Core Team of neglecting early supporters
    • Price dropped from $1.5 to around $0.84-0.89 within days

    Pi Coin has experienced a sharp decline in value following what many expected to be positive news for the network. The cryptocurrency dropped by 33% in the hours after the Pi Network announced the launch of a $100 million venture capital fund.

    The price fell from recent highs of $1.5 earlier this week to approximately $0.88, erasing most of its weekly gains. This represents a 45% decline from its peak.

    The sharp drop came despite what appeared to be a major development for the ecosystem. On May 14, the Pi Foundation revealed “Pi Network Ventures,” a $100 million fund designed to support startups building on the platform.

    PI Network $PI is nearing support at $0.79 📊

    If that breaks, the range POC + trendline at $0.65 is a big level of support 📈

    Bulls need the trendline to hold for more upside 🟢 pic.twitter.com/nWo76TzDrF

    — Trader Edge (@Pro_Trader_Edge) May 15, 2025

    According to the announcement, the fund will operate similarly to a typical Silicon Valley venture capital firm. It aims to back projects across various sectors including generative AI, gaming, FinTech, e-commerce, and social media platforms.

    The fund will also support blockchain-native companies working on the Pi Network. The goal appears to be expanding the ecosystem’s real-world utility and driving wider adoption.

    Community Backlash

    The price drop coincides with growing discontent within the Pi Network community. Many long-term supporters, known as “Pioneers,” have expressed feelings of betrayal over the current state of the platform.

    A key complaint centers on the lack of functioning decentralized applications (DApps) on the network. This issue has become particularly frustrating for community members who have supported the project for up to six years.

    Dr. Altcoin, a prominent voice within the Pi Community, described the announcement as “nothing short of a betrayal.” He pointed out that after six years of development, the DApps promised by the Core Team still do not exist.

    Today the Pi Core Team announcement about Pi Network Ventures is nothing short of a betrayal to the Pioneer community, the very people who built this project from the ground up over the past six years.

    We waited, we believed, and we contributed under the promise that time was…

    — Dr Altcoin (@Dr_Picoin) May 14, 2025

    The criticism extends beyond just the absence of applications. Dr. Altcoin has also accused the Core Team of neglecting core community members and undervaluing their contributions to the network’s growth.

    According to his statements, more than 94% of Pioneers who helped build and sustain the network failed to acquire 1,000 Pi tokens. This was attributed to the Core Team’s refusal to adequately reward referral bonuses.

    Market Impact

    The price decline has had a substantial impact on Pi Coin’s market position. During its rally to $1.5 earlier this week, Pi Coin’s market capitalization had reached $11.12 billion. This placed it ahead of established cryptocurrencies like Litecoin and Bitcoin Cash.

    However, the excitement surrounding the announcement faded quickly. The altcoin lost nearly $5 billion in market value over just three days.

    Trading volumes have increased amid the volatility, rising 35% to $951 million. Some analysts point to a 5.2 million token unlock as another factor contributing to the price decline.

    Pi Network Price on CoinGecko
    Pi Network Price on CoinGecko

    Technical indicators show mixed signals for the cryptocurrency. Pi is trading above important moving averages, including the 50-day SMA and the 10-day EMA, which generally indicate buy signals.

    The relative strength index at 57.24 remains in neutral territory, suggesting market indecision. Meanwhile, the moving average convergence divergence points to potential short-term bullish movement.

    If the price holds above support at $0.85, analysts suggest there could be a recovery toward $1.10. However, if it drops below this level, Pi might retest support around $0.74.

    The Pioneer community, which reportedly includes 70 million members across 200 countries, continues to express concerns about the project’s direction. Many feel that Pi Network’s global ambitions have come at the expense of its core community.

    The price currently stands at approximately $0.84-0.89, representing a substantial drop from its recent high. Market participants appear to be reassessing their positions as the project continues building despite the current price decline.

    The latest trading data shows Pi Network hovering near the $0.85 support level as traders digest the recent news and price movement.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Cryptocurrency Live News & Updates : Shiba Inu Price Faces Potential Volatility Ahead

    Cryptocurrency

    What’s the best Crypto to buy in August? This new Cryptocurrency could deliver 5x ROI bypassing ETH 2x

    Cryptocurrency

    Which Cryptocurrency Is More Likely to Be a Millionaire Maker? Dogecoin vs. Solana

    Cryptocurrency

    Is a Cryptocurrency Market Crash on the Horizon?

    Cryptocurrency

    Pakistan at risk of FATF grey list return over digital transactions, warns Pak Finance Minister Aurangzeb – World News

    Cryptocurrency

    FinMin raises alarm over unregulated digital deals

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Property

    The UK’s ‘best’ seaside town to move to in 2025 with properties on sale for just £70k | UK | News

    Cryptocurrency

    The future of digital currency: Why ‘programmable’ money could reshape global finance

    Stock Market

    Infosys dividend today; dividend history, Q4 results preview & key things to watch

    Editors Picks

    the revolution in finance and banking

    July 31, 2025

    TD Bank Provides Update on U.S. AML Matters – FF News

    August 21, 2024

    Hideo Kojima a une idée totalement inédite pour son prochain jeu, et on est déjà fan

    May 16, 2025

    Mesa Laboratories (NASDAQ:MLAB) Will Pay A Dividend Of $0.16

    July 12, 2025
    What's Hot

    The good times pass Mupane by :: Mmegi Online

    April 9, 2025

    Bitcoin Sees Slight Dip Ahead Of Modi 3.0’s First Union Budget Presentation

    July 23, 2024

    Greenheart Gold Inc. (GHRT) ouvre les marchés -Le 21 janvier 2025 à 16:29

    January 21, 2025
    Our Picks

    Stock market falls on Trump & Elon’s political turmoil and Musk is much less rich on Tesla’s plunge

    March 7, 2025

    Cyber fraudsters targeting cryptocurrency investors-Telangana Today

    April 3, 2025

    LIC Offloads 2.09% Stake In Hindustan Copper For Rs 447 Crore

    August 19, 2024
    Weekly Top

    ‘Could fundamentally change how we power our world’

    August 24, 2025

    What’s the best Crypto to buy in August? This new Cryptocurrency could deliver 5x ROI bypassing ETH 2x

    August 24, 2025

    Your energy drink habit may lead to debilitating nerve damage – and it takes far less than you’d think to reach a toxic overdose

    August 24, 2025
    Editor's Pick

    Harris once wanted to ban fracking. Trump wants voters in energy-rich Pennsylvania to remember

    August 7, 2024

    Al-Jouf Agricultural Development affiche un bénéfice net et un chiffre d’affaires en hausse pour l’exercice 24 -Le 26 février 2025 à 07:46

    February 25, 2025

    Earn passive income with cryptocurrency at SIX MINING

    March 25, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.