{"id":99075,"date":"2026-06-07T00:18:06","date_gmt":"2026-06-07T00:18:06","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=99075"},"modified":"2026-06-07T00:18:06","modified_gmt":"2026-06-07T00:18:06","slug":"pi-network-how-a-viral-crypto-project-with-60m-users-lost-18-billion","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=99075","title":{"rendered":"Pi Network: How A Viral Crypto Project With 60M Users Lost $18 Billion"},"content":{"rendered":"<div>\n<p><strong>Pi Network<\/strong> <a href=\"https:\/\/www.benzinga.com\/quote\/PI-USD\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"PI\" data-exchange=\"CRYPTO\" rel=\"noopener\">(CRYPTO: <\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/\">PI<\/a>), a viral cryptocurrency project that attracted over 60 million users known as \u2018Pioneers,\u2019 saw its price crash to a record low during the ongoing crypto winter. It slipped to a record low of $0.1232, down by 96% from its all-time high of $3.\u00a0<\/p>\n<p>This painful crash has led to a substantial decline in its market capitalization, moving from $20 billion to $1.3 billion today.\u00a0<\/p>\n<p><figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"567\" src=\"https:\/\/editorial-assets.benzinga.com\/wp-content\/uploads\/2026\/06\/06115206\/Pi-Network-Price-1024x567.png\" alt=\"Pi Network price has crashed since its mainnet launch\" class=\"wp-image-1495276\" srcset=\"https:\/\/editorial-assets.benzinga.com\/wp-content\/uploads\/2026\/06\/06115206\/Pi-Network-Price-1024x567.png 1024w,https:\/\/editorial-assets.benzinga.com\/wp-content\/uploads\/2026\/06\/06115206\/Pi-Network-Price-300x166.png 300w,https:\/\/editorial-assets.benzinga.com\/wp-content\/uploads\/2026\/06\/06115206\/Pi-Network-Price-768x425.png 768w,https:\/\/editorial-assets.benzinga.com\/wp-content\/uploads\/2026\/06\/06115206\/Pi-Network-Price-1536x851.png 1536w,https:\/\/editorial-assets.benzinga.com\/wp-content\/uploads\/2026\/06\/06115206\/Pi-Network-Price-2048x1134.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"><figcaption class=\"wp-element-caption\"><em>Pi Network price has crashed since its mainnet launch | Source: TradingView<\/em><\/figcaption><\/figure>\n<\/p>\n<h2 class=\"wp-block-heading\">The Rise and Fall of Pi Network<\/h2>\n<p>Pi Network is a popular crypto project that was inspired by <strong>Bitcoin <\/strong><a href=\"https:\/\/www.benzinga.com\/quote\/BTC-USD\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"BTC\" data-exchange=\"CRYPTO\" rel=\"noopener\">(CRYPTO: <\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>). Chengdiao Fan and Nikolas Kokkalis, the founders, believed that they could solve Bitcoin&#8217;s main challenges, including the high transaction costs and the need for expensive mining hardware.\u00a0<\/p>\n<p>They launched Pi Network on 3rd March 2019, a date that coincided with Pi Day, day that commemorates the mathematical constant that represents the ratio of a circle&#8217;s circumference to its diameter.<\/p>\n<p>Pi became an instant hit, with over 60 million users participating in its &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/crypto\/cryptocurrency\/26\/06\/53048026\/pi-network-how-a-viral-crypto-project-with-60m-users-lost-18-billion?utm_source=benzinga_taxonomy&amp;utm_medium=rss_feed_free&amp;utm_content=taxonomy_rss&amp;utm_campaign=channel\" alt=\"Pi\" network: how a viral crypto project with users lost billion>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pi Network (CRYPTO: PI), a viral cryptocurrency project that attracted over 60 million users known as \u2018Pioneers,\u2019 saw its price crash to a record low during the ongoing crypto winter. It slipped to a record low of $0.1232, down by 96% from its all-time high of $3.\u00a0 This painful crash has led to a substantial [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-99075","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/99075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=99075"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/99075\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=99075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=99075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=99075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}