#成长值抽奖，赢 iPhone 16 和精美周边 The reason for the continuous fall of Pi Network on May 27

Negative News and Crisis of Confidence: Crypto analyst Atlas called Pi Network "the biggest RUG in 2025", alleging insider trading. The two-day investigation revealed a massive sell-off of 12 million tokens, sparking panic in the market. At the same time, on-chain data such as a large number of tokens being sent from exchanges to private addresses was exposed, deepening doubts about the transparency and long-term intentions of the core team, leading to a setback in investor confidence and a rush to sell tokens.
Token unlocking pressure: 7.4 million tokens have been unlocked into the market, causing a surge in circulating supply, while market demand has not increased correspondingly, leading to increased selling pressure and downward pressure on prices.
Project development is below expectations: At the Cons 2025 conference, while the founder of Pi Network discussed strategic initiatives, the community remained skeptical of the plans, such as the $100 million venture capital fund plan being criticized for lacking appeal, and the mainnet delay causing investors to worry about the project's prospects, which in turn affected market sentiment and led to a fall in coin prices.