Pi Network Token Loses Momentum, Crashes Post-Announcement

Pi Network’s token price dropped over 25% to $0.85 within 24 hours after announcing a $100 million investment fund aimed at boosting startup innovation.

The announcement briefly pushed Pi above $1.50 and into the top 20 cryptocurrencies, fueled by speculation of a Binance listing. However, the sharp decline sparked criticism, with some accusing the team of overhyping the news and misreading community sentiment.

Despite the backlash, Pi Network emphasized that their focus remains on building ecosystem utility rather than short-term price gains. Pi’s market cap fell from $9 billion to $6.2 billion, pushing it out of the top 20 rankings.

Clever Robot News Desk 16^th May 2025