{"id":534444,"date":"2025-10-07T05:30:40","date_gmt":"2025-10-07T00:00:40","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=534444"},"modified":"2025-10-06T18:16:18","modified_gmt":"2025-10-06T12:46:18","slug":"pi-network-sheds-18b-in-six-months-thats-basically-a-rug-pull","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/pi-network-sheds-18b-in-six-months-thats-basically-a-rug-pull\/","title":{"rendered":"Pi Network sheds $18B in six months: \u2018That\u2019s basically a rug pull\u2019"},"content":{"rendered":"

Key Takeaways<\/h2>\n

Why is Pi Network facing rug pull claims again?<\/em><\/h3>\n

It has plunged over 90%, erasing nearly $18 billion in market cap and fueling investor distrust.<\/p>\n

What\u2019s next for PI?<\/em><\/h3>\n

Without resolving community concerns and supply growth issues, the token could stay under pressure in the coming months.<\/p>\n

\n

Pi Network [PI]<\/span><\/a> price has crashed over 90% since it debuted in March, renewing “rug pull” allegations.\u00a0<\/span><\/p>\n

In March, the price shot up to $2.79 and reached about $18 billion in market cap amid FOMO after its debut. But it has slipped below $1 and dropped further to $0.26, shedding over $16 billion in market cap over the past six months.\u00a0<\/span><\/p>\n

\"PI<\/a>
Source: CoinMarketCap<\/figcaption><\/figure>\n

According to a pseudonymous crypto market commentator, <\/span>Mr Spock<\/span><\/a>, the 90% crash meant the project was a “rug pull.”<\/span><\/p>\n

\u201cPi crashed over 90% from its highest position, that\u2019s basically a rug pull.\u201d<\/span><\/p><\/blockquote>\n

Hype and speculative interest fade<\/strong><\/h2>\n

Back in May, PI faced a similar rug pull claim after the team allegedly created a $100 million venture fund amid unmet expectations and broken promises for over six years.\u00a0<\/span><\/p>\n

The community <\/span>felt<\/span><\/a> that the $100 million fund, partly gained from internal revenue and mining, was diverted for external uses instead of the ecosystem.\u00a0<\/span>Unsurprisingly, the backlash capped the attempted rebound in May and dragged PI below $0.50.\u00a0<\/span><\/p>\n

Despite the souring market sentiment on the altcoin, Pi Scan <\/span>showed<\/span><\/a> that some players were still accumulating it.\u00a0<\/span><\/p>\n

In the past 24 hours, a Net Flow of $112.3 million was recorded, underscoring that more PI tokens flowed out of exchanges than into them, suggesting a buying spree.\u00a0<\/span><\/p>\n

\"Pi<\/a>
Source: Pi Scan<\/figcaption><\/figure>\n

Derivatives data show speculative interest has collapsed<\/strong><\/h2>\n

Even so, the speculative interest suggested otherwise. While there has been an improvement in Futures market demand, the overall speculative interest dropped by over 10X.\u00a0<\/span><\/p>\n

Glassnode data showed that PI\u2019s Open Interest (OI), or the number of opened contracts in the derivatives market, declined from nearly $120 million to about $20 million.\u00a0<\/span><\/p>\n

\"Pi<\/a>
Source: Glassnode<\/figcaption><\/figure>\n

In other words, the altcoin has been under multi-month bearish pressure as the community felt sidelined by the team<\/span><\/p>\n

The inflationary pressure also tanked the price. Since May, the PI\u2019s circulating supply has increased by over 1 billion tokens.\u00a0<\/span><\/p>\n

\"PI<\/a>
Source: Glassnode<\/figcaption><\/figure>\n

Collectively, the unhappy PI community and distrust of the project team have left the altcoin under bearish drift. As a result, PI\u2019s muted price action may continue for a while unless the team addresses <\/span>community concerns<\/span><\/a>.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The community\u2019s patience runs thin while Pi\u2019s supply balloons and market cap vanishes.<\/p>\n","protected":false},"author":79,"featured_media":534456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-534444","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"\nPi Network sheds $18B in six months: \u2018That\u2019s basically a rug pull\u2019 - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Pi Network price has dropped over 90% renewing rug pull allegations as about $16B in market cap has been wiped out.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/pi-network-sheds-18b-in-six-months-thats-basically-a-rug-pull\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pi Network sheds $18B in six months: \u2018That\u2019s basically a rug pull\u2019 - 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