Pi Network News: Core Team Posts Job Vacancies Amid Scam Claims and Price Crash

The Pi Network is under fire. The price of its token has dropped hard. Rumours of pump-and-dump schemes are everywhere. Wallet movements involving billions of Pi tokens have made things worse. In a surprise twist, the Pi Core Team has announced new job vacancies.

Let’s break it all down.

Token Price Slides Despite Big Ecosystem Fund

Just a few weeks ago, Pi was riding high. On May 8, it spiked to $1.6796. But as of now, it’s dropped to about $0.75. This is a sharp dip from its late February high of $2.98.

Many expected better. On May 14, the Pi Core Team announced a $100 million ecosystem fund. The goal was to attract developers and boost adoption. In theory, that kind of fund should have helped support prices.

It didn’t.

Instead, the price continued to fall. Traders and community members are questioning whether the fund has had the opposite effect. Some say it’s encouraging sell-offs, not development.

Technical Analysts Sound the Alarm

Crypto chart watchers are focusing on one number now: $0.70. That’s a key support level.  If Pi dips below that, it breaks past the 50% Fibonacci retracement level. That could open the door for a fall to $0.40. In short, technicals are not looking great.

Pi Core Team Posts Job Listings, At a Strange Time

Amid all the fear, doubt, and losses, the Pi Network is hiring.

Yes, really. The team behind Pi just announced a wave of job vacancies. It’s unclear what roles they’re filling or how many positions are open. But the timing has left many scratching their heads.

Why recruit during a PR and price crisis?

Some in the community believe it shows confidence. They say the team is still building for the long-term. Others, however, are suspicious. They wonder if the hires are just for show, or worse, a distraction.

Community Worries: Scam Rumours Grow Louder

Let’s address the elephant in the room. Many Pi holders are whispering the same phrase: Pump and dump.

The project has been accused of shady wallet activity. Blockchain data shows huge movements between Foundation wallets. These movements involve billions of Pi tokens.

Here’s a breakdown of recent activity:

• 5.4 billion Pi moved from Foundation 1 to Foundation 3
   
• 700 million Pi transferred from Foundation 3 to Foundation 2 in chunks
   
• 1 billion+ Pi sent straight from Foundation 1 to Foundation 2

Currently:

• Foundation 3 wallet holds 4.7 billion Pi
   
• Foundation 2 is almost drained, with just 24 million Pi

That’s not all. Some community investigators believe the team controls over 10,000 wallets. Only seven are easy to track. The rest? Not so transparent.

This lack of clarity has fueled accusations of insider manipulation and dumping. Investors want answers. They want transparency and accountability. And so far, they’re not getting either.

Can Trust Be Rebuilt?

It’s a critical moment for Pi Network. Once a shining light of mobile crypto mining, it now faces serious questions.

• Is the token being artificially propped up?
   
• Are the job hires part of a bigger, more legitimate plan?
   
• Or is the team scrambling to restore public image?

Some long-time users still believe in the mission. They point to the $100 million fund as a sign that the core team is serious about development. They highlight the project’s early success in onboarding millions of users.

But sentiment is shifting. Fast.

What Investors Are Saying

On social platforms like X and Reddit, Pi holders are split. Some are furious. Others are in wait-and-see mode.

A few common reactions:

• “The price tanked, and now they’re hiring? Sounds like a distraction play.”
   
• “Where’s the transparency about those wallet movements?”
   
• “I mined Pi for two years. I’m starting to regret it.”
   
• “If they want trust, they need to explain the Foundation wallets. Period.”

The demand for communication is loud and clear. So far, the Pi Core Team hasn’t responded directly to the allegations.

The Bigger Picture

The Pi Network is still a big name in mobile crypto. Millions of users have downloaded the app. Many still check in daily to mine tokens.

But the project’s true utility and future remain unclear. The price volatility, shady wallet activity, and awkward timing of job postings all raise red flags.

Yet not all hope is lost. If the Pi Core Team can:

• Clarify the purpose of the job hires
   
• Provide transparency about wallet movements
   
• Rebuild trust through better communication
   

Then the project may still have a path forward.

But time is ticking.

Final Thoughts

The Pi Network is walking a tightrope as price action is bearish. Trust is fragile, and the community is restless.

Announcing job openings during such a storm might seem bold. or reckless, depending on your perspective.

But one thing is clear: the next few weeks will be pivotal. The team must address the growing fears. They need to stop the bleeding, and they must prove to the community that Pi is more than just hype and hidden wallets.

Until then, we expect more volatility, more questions, and, perhaps, more exits.