I think the pi network are taking too long to launch the mainnet and most especially validate most of their users in queue for the kyc process.
Unlike before, the pi network hype had really gone down because of their delay.
I learnt people lost significant amount of pi coin due to late kyc entry and till date some people weren't able to pass kyc hence their pi coin is gone maybe I don't know if there were other ways they have used to restore back their pi coin. Just as you said have been hearing about this coin and they made lots of noise on social media causing them to gain much popularity even more than some of those meme coin that has been listed in the market today. Most times good projects takes time to list their coin, they takes all the time because they knew that most of the people who are holding their coin are just looking for a way to go dump them on market this made most project to set some limits and a total amount one could be able to sell.