Pi Network’s Price Hits Another ATL but PI Community Looks Ahead to a New Phase

PI keeps digging new lows.

The substantial correction that began last week and culminated (for now) yesterday evening has not been kind to Pi Network’s native token.

The asset, which launched just over a year ago, doesn’t seem to have found a bottom and marked yet another all-time low.

Recall that PI was actually trading quite promisingly during the November crash when BTC, ETH, and most larger-cap alts were suffering. It remained well above $0.20 and even challenged $0.30 at one point, but to no avail.

The following month and a half were quite sluggish, and PI failed to move alongside the market in either direction. However, its $0.20 floor gave in mid-January and has been a straight-on calamity since then.

CryptoPotato repeatedly reported on the asset’s new lows. It finally regained some traction on Saturday morning, but the market-wide crash hours later drove it south hard yet again. This time, the bears took it to its latest ATL of $0.1527 (CoinGecko data). This meant a 94.8% decline in less than a year since it launched.

Nevertheless, its community continues to be hopeful about a turnaround. Pi News, arguably the most popular news-related channel outside the official Pi Network account, outlined that “PI is not just a coin, it’s a movement.”

They speculated about some sort of “new era” that is “about to begin,” claiming that Pi Network started on mobile, but it’s now evolving into a global digital currency.

So far, this prediction has yet to materialize, but the Pi Network Core Team continues to introduce frequent updates to the overall ecosystem, which could be a silver lining after the latest crash.

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Jordan Lyanchev
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Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.