Pi Network Drops 61% Despite Telegram Wallet Deal as BBTrend, RSI Signal Ongoing Bearish Pressure

Despite integrating with Telegram Wallet, Pi Network’s token dropped over 61% in a month, as bearish signals and skepticism dominate.

In a surprising twist for many retail investors, the Pi Network token has lost over 61% of its value in just one month—even after the much-hyped integration with Telegram’s crypto wallet, a move expected to spark bullish momentum. Instead, the price spike that followed the announcement quickly faded, and the token continued its downward trajectory.

The integration was initially seen as a strategic move. With Telegram boasting over 1 billion monthly active users, many analysts anticipated that Pi would capitalize on expanded accessibility and visibility. However, the expected positive momentum failed to materialize, leaving Pi locked in a deeply bearish trend.

📉 BBTrend and RSI Paint a Bearish Picture

The token’s BBTrend (Bollinger Band Trend) has remained in negative territory for 12 consecutive sessions, currently sitting at -22.34. On March 21, it hit a new monthly low of -41, a stark indicator of ongoing selling pressure. In general, the further the BBTrend dips below zero, the more dominant the sellers become—and for Pi, the distance is growing.

While the Relative Strength Index (RSI) saw a modest bounce—from 23.8 to 40.45—it still lingers under the neutral 50 mark, suggesting that buying momentum remains weak. Analysts view this combination of negative BBTrend and under-50 RSI as a sign that the bulls are yet to regain meaningful control.

❗ Accusations and Reputation Concerns Linger

The Pi Network is also grappling with ongoing reputational damage. Allegations of the project being a scam continue to circulate, casting a shadow over any technical progress or adoption milestones.

Critics such as Bybit CEO Ben Zhou and Cyber Capital’s Justin Bons have gone on record calling the project a scam—citing its mobile mining system and MLM-like referral structure. Bons, for instance, slammed Pi’s approach as “a gimmick” that “does not contribute to consensus,” labeling it an investment fraud.

In response, Pi Network issued a public denial, asserting that unauthorized individuals impersonated the team and approached exchanges like Bybit to request token listings. The platform defended its referral model, emphasizing that it is cost-free and strictly limited to one level of referral. Furthermore, both the referrer and referred receive a 25% mining bonus—only while actively mining together.

🚨 What’s Next for Pi?

Despite the ongoing downward trend, Pi’s team maintains that the project has long-term potential and continues to expand integrations. However, with technical indicators in the red, public trust under scrutiny, and major exchanges distancing themselves from the token, the path to recovery appears challenging.

Whether future updates or continued adoption within messaging ecosystems like Telegram can shift the narrative remains to be seen. For now, Pi finds itself at a critical juncture—caught between momentum loss and image repair.

🏷️ Tag:
Pi Network decline

🎨 Prompt for AI (News Image):
A futuristic desert under a crimson sky, where a towering Pi-shaped monolith cracks and sinks into the sand. A glowing Telegram logo floats above, casting flickering blue light over collapsing digital bridges. Traders in long coats observe from a distance, while red warning signals pulse across a digital skyline. In the far background, a fragile balance scale holds “Trust” on one side and “Volatility” on the other. Logos must be subtle, etched into metal or reflected in data streams—no charts or graphs.

📸 Reflection Image Prompt – news –
A crumbling Pi-shaped monument under digital storm clouds, its base eroding with each token fall. Above, the Telegram light shines faintly, while distant traders weigh risk and reputation on the edge of a fading crypto frontier.

Можу згенерувати зображення за цим описом — просто скажи.