Pi Network's token has plunged nearly 90% from its February 2025 peak, primarily due to token unlocks and weak demand. The leadership, headed by Dr. Nicolas Kokkalis, has remained silent, failing to address the crisis publicly, which has exacerbated community concerns. The lack of communication and delayed development updates have eroded investor confidence, despite the anticipated Protocol 23 upgrades. The absence of verified timelines and strategic clarity continues to undermine stakeholder trust.