Pi Network Price Today May 18, 2025: Evaporation is very strong, suspected of scamming the Pi community

Pi Network Price Today 5/18/2025

Pi price on OKX exchange on May 18, 2025 is fluctuating around the price from 0.6826 USD to 0.937 USD (equivalent to 17,690 VND to 24,290 VND. Thus, at the time of writing, Pi price on OKX exchange decreased by 25.9% compared to yesterday, reaching 17,940 VND

Pi Network is currently facing accusations of price manipulation. Analyst Dr. Altcoin believes that the development team has staged a sophisticated "dumping" campaign.

They are suspected of creating a media effect ahead of the Consensus event and the announcement of the Pi Ecosystem, causing the price of Pi to increase from $0.4 to $1.6. When the market was still excited, the group is said to have sold a large amount of tokens.

The community's expectations of a Mainnet launch accompanied by hundreds of quality decentralized applications quickly dissipated.

Instead, on May 14, the development team only announced the Pi Network Ventures initiative, which disappointed many.

After that, Pi price dropped sharply to $0.8 and according to Dr. Altcoin, it could return to its original level of $0.4, wiping out all expectations.

Dr. Altcoin stated: “Pi Core Team has been scamming the community, and no one has realized it yet.”

Currently, Pi Network has not yet made an official response. The incident is considered a warning to retail investors about the risks of chasing media effects and vague expectations in the cryptocurrency market.

Nicolas Kokkalis's empty and uninformed speech

For the first time since Pi Network launched in 2019, founder Nicolas Kokkalis has officially appeared in the media, quashing rumors that he has “abandoned the project” or disappeared like Bitcoin’s Satoshi Nakamoto.

However, instead of creating a positive effect, his speech at the Coindesk Consensus 2025 conference coincided with the downward trend of Pi price.

“I’m not here to talk about technology, I’m here to talk about trust,” Kokkalis said during a May 16 presentation in Austin, US. He asserted that Pi Network is not just a cryptocurrency but also a global ecosystem.

His topic revolved around AI, blockchain, and the path to mass adoption of the technology. However, he did not provide any specific information about the development progress or plans to open the Pi network.

Kokkalis believes that KYC is the core of a sustainable blockchain. While he acknowledges that the network is not yet fully open, he emphasizes that openness should be accompanied by safeguards and anti-fraud measures, rather than rushed.

Many users later expressed disappointment as the speech was deemed general, providing no clear information or impetus for the Pi price, which continued to fall after the event.

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Source: https://baonghean.vn/gia-pi-network-hom-nay-18-5-2025-boc-hoi-cuc-manh-nghi-an-lua-dao-cong-dong-pi-10297548.html