Pi Network: The Crypto That Dares to Ask, ‘Is This Rock Bottom?’

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Ah, the Pi Network, that grand experiment in human folly and digital delusion! Its native token, PI, has plummeted with the grace of a man condemned, leaving its faithful followers to clutch at straws and whisper of legitimacy in the shadows of their own doubt. The air is thick with the scent of despair, and yet, in the heart of this abyss, a flicker of hope-or is it mere madness?-dares to suggest a rally, a fleeting resurrection from the grave of financial ruin.

The Great Exodus from the Temples of Trade

This week, PI sank to a depth of $0.18, a stone’s throw from its all-time low of $0.17, achieved in the dark days of October past. A brief, pathetic flutter upward, and then-nothing. It lingers, a ghost of its former self, down 9% on the week and a staggering 94% since its fevered peak of $3 in February 2025. Oh, the hubris of man! The crypto market, too, has turned its face away, cowering under the weight of geopolitical squabbles between the USA and the European Union, their spat over Greenland casting a long, cold shadow.

Yet, in this sea of woe, a curious phenomenon: four million coins, no less, have fled the exchanges, seeking refuge in the arms of self-custody. A desperate bid to stem the tide of selling, perhaps? Or merely the last gasp of a dying beast? The exchanges, those modern-day temples of greed, now hold but 419.7 million PI, with Gate.io and Bitget clutching the lion’s share like misers hoarding their gold.

The Bears, Those Eternal Companions

Pi Network, with its vast and blindly devoted horde, stands as a monument to the human capacity for self-deception. Yet, even among the faithful, whispers of discontent grow louder. One such voice, Pi Update on X, dubs it “the longest-running crypto cope,” a farce of endless KYC queues, frozen balances, and a mainnet that remains as elusive as a mirage in the desert. “At some point,” they declare with a bitter laugh, “you must admit this is not early-it is late, and still, the work is unfinished.”

Another, pinetworkmembers, adds their lament, confessing it is “hard to stay bullish” on PI. The coin, they note, has failed to ride the wave of the market’s resurgence, bogged down by an unclear supply, a mainnet that exists only in dreams, centralized control, and balances locked tighter than a miser’s purse. And yet, they cling to hope, like a man drowning in a sea of his own making.

Ah, Pi Network! Will you rise again, or are you but a cautionary tale, a reminder that in the world of crypto, even the most fervent belief can crumble to dust? Only time, that cruel and unforgiving judge, will tell.

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2026-01-20 16:00