Pi Network is under scrutiny for allegations of financial withdrawal—could this indicate a potential scam?

Dr. Altcoin alleges that the Pi Network’s Pi Core Team has been misleading the community with exaggerated claims about significant mainnet developments that have not materialized. The analyst pointed out that essential elements of the ecosystem, such as decentralized applications (DApps), are still not fully developed, and it is only now that utility projects are starting to receive backing from Pi Network Ventures. Despite the announcement of a $22.5 million venture capital fund aimed at supporting tangible projects on the platform, the price of Pi Coin has plummeted below $123 from a high of $212 in May. Furthermore, the Pi Core team faces significant allegations of deceiving the Pioneer community, with accusations of key members committing a rug pull amid a recent price surge. In a post on the X platform, Dr. Altcoin revealed that the Pi Core team sold off 25 million Pi Coins. The analyst observed, “While many pioneers grasp my stance, there are a few who do not.” Instead of questioning me, ask the Co-founders for clarification: what caused the price to plummet from $1.60 to $0.70 when the update from PCT was actually a positive one? Within the past 24 hours, PCT has sold around 12 million Pi! Check out this tweet from @PiCoreTeam, mentioning @nkokkalis and @Chengdiao: pic.twitter.com/TdzF8ucdtX. — Dr Altcoin (@Dr_Picoin) May 17, 2023. Has the Pi Core Team Betrayed the Community of the Pi Network?