Pi Coin’s Plunge: From $2.99 to $0.20 in 10 Months – Is the Project Dead or Just Dormant?
Pi Network's native token just completed a staggering 93% price collapse. The numbers don't lie—a fall from a February high to a December low that would make even seasoned crypto veterans wince.
The Anatomy of a Decline
This isn't a typical market correction. The sheer scale of the drop points to deeper issues: waning user engagement, stalled mainnet progress, or a classic case of hype deflating before real utility arrives. Projects live and die by their communities and deliverables, and the charts are screaming a warning.
Beyond the Price Tag
Focusing solely on the price misses the forest for the trees. The real question isn't about the current valuation—it's about the network's fundamentals. Has development activity flatlined? Are the core developers still building, or have they moved on to the next 'revolutionary' idea? In crypto, a low price can be a buying opportunity or a tombstone; the difference is all in the execution.
A Reality Check for 'Easy Money'
Let's be blunt—the entire episode serves as a perfect case study for the 'greater fool' theory in action. It's a reminder that in the wild west of digital assets, not every project promising to bank the unbanked actually builds the bank. Sometimes, they just print the brochures.
The road ahead is binary. Either the team delivers the open mainnet and tangible ecosystem they've been promising for years, proving this was a brutal but necessary consolidation, or this price action becomes the final, definitive chapter. In crypto, hope is a powerful fuel, but it's not a sustainable business model.
Pi Coin Price Prediction: Is PI Done For?
The current bearish tone looming over the market is attributed to macroeconomic factors. The larger economy is still weak, and investors are opting for low-risk assets. PI and other cryptocurrencies have seen massive outflows over the last few months.
Despite the macroeconomic worries, PI’s downtrend began much earlier than the ongoing market dip. The crypto market took a big hit in October, while PI has been on a downward trajectory since its February peak, with some sporadic rallies. The lacklustre performance could be due to the lack of utility for the coin. Moreover, the hype around PI has significantly fallen since early 2025.
PI could make a rebound, but it may not happen anytime soon. The crypto market is far from entering a recovery phase. Given the slow economic growth and high jobs figures, there is a high chance that we will enter another crypto winter. Such a scenario could lead to PI facing further selling pressure.
PI could see some relief if Bitcoin (BTC) experiences a price surge. Grayscale and Bernstein anticipate BTC to hit a new all-time high in 2026. BTC hitting a new high could trickle into a rally for PI as well.
