As of Monday, the price of Pi Network (PI) has fallen by 3%, forming a bearish pattern, and market enthusiasm has cooled. However, there has been a significant outflow of balances from the trading platform, indicating that some traders still maintain confidence. The price of PI is nearing historical lows, and technical indicators show increasing selling pressure. Investors need to remain cautious and avoid risky investments in small market capitalization projects.

The Pi Network faces strong criticism, particularly from Justin Bons, who accuses it of being a scam due to its centralized operations, delayed mainnet launch, and lack of transparency. Concerns about its functionality, referral program, and market performance raise questions about its legitimacy and value.