Pi Coin is currently trading at $0.74, down by more than 6% from its peak of $1.50 amid speculation around a major ecosystem announcement during the Consensus event.
After no significant announcement, Pi's value declined by over 70%, with daily trading volume dropping by 44%, indicating reduced buying interest.
Analysts caution that without a significant catalyst, Pi could fall back to its historical low of $0.40.
Investor frustration was exacerbated by the introduction of Pi Network Ventures, a $100 million investment initiative, along with concerns about transparency and accountability from the Pi Core Team.