Pi Network’s Price Hits Another ATL but PI Community Looks Ahead to a New Phase
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.
The post Pi Network’s Price Hits Another ATL but PI Community Looks Ahead to a New Phase appeared first on CryptoPotato.
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