Launched as a revolution in mobile mining, Pi Network has captivated millions of investors before faltering under the weight of its own promises. Since the launch of its mainnet in February 2025, the project has faced setbacks: blocked tokens, lack of listing on major platforms, and ambiguity around its funding. The result is a drop of over 75% in price within three months and a disillusioned community. Behind the initial excitement, doubt is emerging about the actual viability of this "inclusive" cryptocurrency.