Jakarta, Pintu News – The price of Pi Network (PI) in Indonesia today, October 24, 2025, was recorded at around Rp3,386 or approximately $0.2037, showing a slight increase in the last 24 hours.
A Pi community expert, Mr. Spock, claims that the Pi Network team is behind the selling pressure on PI tokens. This statement comes as reports suggest that the team recently released over 1.2 million PI tokens into the market.
On October 24, 2025, the Pi Network (PI) price showed a daily gain of 1.7%. 1 Pi Network in Indonesia today is trading at $0.2037 or equivalent to Rp3,386 ($1 = Rp16,625). In the past 24 hours, the PI price moved in a narrow range between $0.1997 to $0.2052, reflecting mild but consistent buying pressure.
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Pi Network’s market capitalization stood at approximately $1.69 billion, while its fully diluted valuation stood at over $2.59 billion. Daily trading volume hovered around $14.86 million, indicating relatively stable market activity in the short term.
In a recent post on the X platform, crypto expert Mr. Spock indicated that Pi Network’s core team is likely the source of the selling pressure that has recently affected the token’s price.
I’ve said many times that it’s our Core Team selling Pi because they don’t have any other source of income. Pi doesn’t have any real utility or anything that generates revenue, so their only option for liquidity is to sell Pi.” @PiCoreTeam 🤦 https://t.co/ZDa4MQAuUr
He suspects that project developers may be selling tokens to raise funds, given that Pi currently has no real functional product or utility that can generate sustainable revenue.
“I have said many times that our core team is selling Pi, because they have no other source of income,” Spock wrote. He emphasized that the only way for the team to gain liquidity is by selling their own tokens.
This statement comes after a Pioneer flagged the sale of 1.2 million PI tokens. He called the incident “bad” and called on the project to focus on real utility, on-chain transparency, and decentralization.
😯 Pi CT selling 1.2M $Pi yesterday. Despite such awful facts, Pioneers keep defending them. $Pi urgently needs more demand, transparency, decentralization and actual on chain products. #pi #pinetwork #picoin #minepi pic.twitter.com/pMRvKgWqZY
Some community members also supported the accusation. One commenter stated that only the core team had a large enough volume of PI tokens to drop the price from $3 to $0.20. They also added that no Pioneer holds enough tokens to cause such a large drop.
Interestingly, this is not the first time the Pi team has faced similar allegations. Former Pi executive McPhilip once accused the team of misusing $20 million in project funds. Court documents from 2020 reveal that Pi Network’s long-term growth and public credibility were allegedly compromised by internal conflicts and divisions in management.
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Despite the criticism, some Pioneers argue that the token sale in question could be related to legitimate project funding needs. For example, testnet is currently being used to test the Pi Network Protocol 23 upgrade. Experts think that the need for additional liquidity may come from such development costs.
In the past month, Pi Coin’s price has recorded a drop of almost 30%, extending a downward trend that has erased more than 90% of its value since its peak.
Crypto expert Mr. Spock even called Pi Network a rug pull project, and warned that many Pioneers have yet to realize the magnitude of the losses incurred and the increasingly unclear direction of the project.
Pi crashed over 90% from its highest position that’s basically a rug pull. Why should I or other Pi Network investors be happy about that? Pi Network has lost over $18 billion in value in just six months, and most Pioneers don’t invest; they mine. So they don’t see Pi Network’s… https://t.co/VIzP4LYbYu
This price drop comes despite the Pi Network ecosystem experiencing some recent developments. One of them is the addition of decentralized exchange (DEX) and automated market maker (AMM) features to their testnet, which aims to help developers create new tokens on the network.
Not only that, but the report also mentions that SPi – a potential stablecoin powered by Pi – is currently being tested on the testnet. This hints at a possible future launch of a stablecoin pegged to the US dollar.
However, so far, these technical updates have not been able to lift the price of Pi Coin, which continues to be pressured by negative sentiment and community doubts about the direction of the project’s development.
Based on the test, USPI may not be released. But there may be some meaning behind the test. pic.twitter.com/cUgq58syh5
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