"Pi Network’s price dropped 33%, falling below $1 to around $0.86 after hitting $1.40 recently."

The drop followed a May 14 announcement of a $100 million Pi Network Ventures fund to support startups building real-world Pi apps.

Many community members feel betrayed, as promised decentralized apps (DApps) remain scarce after six years.

Crypto analyst Dr. Altcoin criticized the move, saying it undervalues the efforts of Pioneers who helped build the network.

Over 94% of users reportedly have less than 1,000 Pi tokens due to limited referral rewards, fueling frustration.

Pi Network has 70 million+ users globally, but many feel ignored as the team shifts focus to big projects and investments.

Community backlash includes calls for protests and social media campaigns demanding transparency and rewards.

The announcement triggered a sharp price fall and loss of market confidence amid ongoing delays and unmet promises.