This is honest, and I agree with nearly all of it. The numb…

This is honest, and I agree with nearly all of it. The numbers are real — down heavily on the year, down a long way over the years — and you're right that nobody saves in something falling faster than their own currency, let alone spends it.
But let me gently carry your own point one step further, because I think you're holding both ends of it without quite joining them.
You say it needs a price pump to fix this. Here's the snag. If the price did pump, what would people do? Hold it, harder — waiting for more. And a thing people hold because it might rise is exactly a thing they don't spend. So the pump that's meant to make it usable as cash is the same force that stops it being spent as cash. You've actually named the trap yourself: it's not used as money whether it falls OR rises. Falling, nobody wants it. Rising, nobody spends it.
So I don't think price is the missing piece at all. A high price never turned a coin into cash — look at the second biggest coin in the world, worth a fortune, still not spent at the shop. The thing that makes something money isn't the price. It's whether a stranger will take it and spend it onward without a second thought.
You're closer to the truth than most. I'd just say the answer isn't "pump it." It's the cash use that has to come first — and that's the bit nobody's built.
Build thinkers, not followers.