Pi Coin has dropped to an all-time low of $0.51, marking an 83% drop since its peak in late February. At the time of writing, it’s trading at $0.52, reflecting a sharp loss of momentum and investor confidence.

The sudden price drop has raised red flags within the crypto community, with many questioning Pi Network’s credibility. Concerns about its centralized structure and fears of a potential “rug pull” are surfacing.

Critics on social media are vocal. One user, referencing a video by @SonOfATech, labeled Pi Network as a data aggregator app with questionable practices. They pointed out that 50% of the coin’s supply is controlled by insiders—20% to the development team, 20% pre-mined, and 10% to the foundation—leaving only 45% available for mining.

Another user echoed the sentiment, claiming, “Another rug pull. $PI is definitely going to zero.” With credibility issues, heavy insider control, and a sharp price decline, the future of Pi Coin remains uncertain.

Can Pi Hit $1 Again?

After its February launch, Pi saw a quick surge, reaching $3 just days after trading began. Now, analysis suggests that Pi might be entering a reversal zone. Historically, Pi moves differently from Bitcoin ($BTC) and Ethereum ($ETH), and since both are currently dropping, we might soon see Pi bounce back.

With capital shifting around, Pi could see some short-term gains, possibly targeting $1 as the next milestone.

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