Just took a look at the Pi situation – and well, it's not very encouraging. The price has completely crashed from its initial hopes. We're talking about current $0.15 after reaching $0.86. That's tough.

But back to the beginning: What exactly is this Pi Mining that has fascinated so many people? The idea sounds tempting – just open an app, click a button daily, and you're collecting Pi Coins. Sounds too good to be true, right? Well, it is.

The thing is: It’s not real mining in the traditional sense. With Bitcoin or other proof-of-work coins, you need massive computing power. With Pi, it’s different. The Pi Network uses the Stellar Consensus Protocol and is based on an engagement model. You build so-called Security Circles – trusted contacts that form a trust graph together. That’s the foundation of the entire system. No mining in the technical sense, more like an activity token system that calls itself mining.

The reality of Pi mining is: You show up daily, build trust, and for that you get coins. No hardware, no electricity costs, no real calculations. Clever marketing, I must say. And it worked – 55 million active users have joined.

Only: The open mainnet has been live since February, and since then it hasn’t gone as hoped. The IOU price (promises of future coins) has collapsed quite a bit. From hopes of several dollars, we’re now at 15 cents. That’s a loss of over 80% within a year.

Technically, it doesn’t look much better. The RSI is weak, the MACD is negative, volume is decreasing. No classic buy signal. The support at $0.60 has been broken, and now the market is testing how much substance is still there.

The big question remains: Can Pi still rise? Theoretically yes. With only 10.5 billion coins in circulation, $1 would be feasible. But the maximum supply is 100 billion. And as they are gradually released, the price pressure will be massive. Then $1 is no longer realistic unless demand grows exponentially.

For long-term pioneers who mined for free, every positive price is a gain – mathematically. But for new entrants? Why buy now if the chart shows no strength and the network isn’t fully operational yet? That’s the key question.

My assessment: Pi is in a consolidation phase with a downward trend. The project isn’t a scam – no one had to invest money, there are no hidden fees. But the lack of transparency is a real problem. Years of promises, vague roadmaps, no external audits. And this mystical $314 price that the community circulates? Total illusion.

In short: Pi Mining was an interesting experiment, but currently the fundamental drivers are missing. Anyone jumping in now is going against the trend and hoping the sell-off is over. That’s speculation, not investment.