Pi Network: A Tragic Farce of Crypto Hubris and Fallen Dreams

by

Ah, the Pi Network, a tale as tragic as it is comical, has continued its descent into the abyss of financial obscurity. From the giddy heights of $2.99 in February of yesteryear, it now languishes at a paltry $0.1720, shedding over $18 billion in value like a peacock molting its once-majestic feathers. How the mighty have fallen, and how the market has laughed!

  • The Pi Network price has plummeted by a staggering ~94% from its all-time high, a fall so graceless it would make Icarus blush.
  • Its market capitalization, once a robust $20 billion, now stands at a mere $1.4 billion, a sum that would scarcely cover the whims of a moderately extravagant dandy.
  • The cause? Oh, the usual suspects: fading demand and a supply that seems to multiply like rabbits in spring. How quaint.

Pi Coin (PI), that darling of the crypto world, was trading at $0.1717 on Wednesday, its market capitalization a shadow of its former self at $1.43 billion. One cannot help but wonder if its creators are now weeping into their monocles.

Why Pi Network’s Mainnet Launch Was Less a Triumph and More a Farce

Pi Network, with its 60 million users, has become the epitome of a project that promised the moon but delivered a pothole. Since its mainnet launch in February last year, it has been under more pressure than a debutante at her first ball. The decline, my dear reader, has been as inevitable as a bad pun in a Wildean dialogue.

The volume, a mere $10 million in the last 24 hours, is but a drop in the ocean compared to the crypto industry’s $116 billion. And the supply? Oh, it rises like the tide, with 134 million tokens unlocked in January and 1.2 billion more to come. One might say the Pi Network is drowning in its own abundance.

The delay in migrating from Protocol 19 to 23 of the Stellar network has been a spectacle of inefficiency. Stuck in testnet, while Stellar itself has sashayed into Protocol 25, Pi Network resembles a guest who arrives fashionably late-only to find the party has long ended.

Pi is down over 90% since its listing in February last year.

Am I surprised?
Hardly.

After 7 years, if the Pi Core Team moves with the alacrity of a sloth, one cannot expect the price to soar. Markets, my dear, reward progress, not procrastination. And progress, since launch, has been as scarce as a witty remark at a dull dinner party.

– Dr Altcoin ✝️ (@Dr_Picoin) January 27, 2026

Centralization, that bane of crypto purists, plagues Pi Network like a persistent cough. The team holds all the reins, and the Pi Foundation, with its 90 billion tokens scattered across hundreds of wallets, remains as opaque as a foggy London morning. The community, alas, has no say, no vote, no voice-mere spectators in this grand charade.

Listed on but a handful of exchanges, Pi Network has failed to secure a spot on the likes of Coinbase, Upbit, or Binance. One wonders if it has even bothered to send its calling card.

The lack of an ecosystem is perhaps the most damning indictment. While Ethereum and Solana flourish with DeFi, Real-World Asset tokenization, and gaming, Pi Network remains a ghost chain, a digital wasteland where ambition went to die.

And let us not forget the recent crypto market crash, which has dragged Pi Coin down with it. Bitcoin, Ethereum, Solana, Avalanche-all have suffered, but Pi Coin, poor thing, seems to have taken the brunt of the blow, diving like a stone in a pond.

Pi Coin Price Technical Analysis: A Study in Despair

The daily chart, a grim tableau, reveals Pi Coin’s relentless downward march. Below the Supertrend indicator, below all moving averages, it forms a double-top pattern at $0.2828 and a neckline at $0.2015, its lowest point since November 4. The prognosis? Dire. The immediate target? Its all-time low of $0.1500. How utterly predictable.

Read More

2026-01-28 22:39