Pi Network’s price reaches a new ATL, but the PI community is looking ahead to a new phase

Pi Network’s price reaches a new ATL, but the PI community is looking ahead to a new phase

PI continues to dig new lows.

The substantial correction that started last week and culminated (for now) last night was not favorable for Pi Network’s native token.

Launched just over a year ago, the asset doesn’t appear to have found a bottom yet, marking another all-time low.

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

The next month and a half was quite slow and PI failed to move with the market in either direction. However, the bottom of $0.20 fell in mid-January and has been an absolute disaster ever since.

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

Nevertheless, the community remains hopeful of a turnaround. Pi News, perhaps the most popular news-related channel outside of the official Pi Network account, outlined that “PI is not just a currency, it is a movement.”

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

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So far this prediction has not come true, but the Pi Network Core Team continues to introduce regular updates to the overall ecosystem, which could be a bright spot after the latest crash.

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