Is Pi Coin Heading for a Dogecoin ETF Launch Lifeline?

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Oh, Pi Coin, you fickle beast. The price has dropped nearly 15% in the last month. Sure, there was a tiny blip upward-about 1%-in the last 24 hours. But honestly, who’s buying into this shaky momentum? 😒

With the token dancing around $0.34, traders are nervously eyeing the abyss, wondering if we’re about to revisit the glory of its all-time low of $0.32. But here’s the twist, folks: a signal-albeit an unlikely one-could give it a temporary boost. Enter the Dogecoin ETF. 🐶💰

Pi Coin, Meet Meme Coin Magic (Yes, Really)

Let’s talk correlation. Pi Coin has been on a rollercoaster ride with other meme coins-BONK (we all have questions) and Shiba Inu. In the last month, Pi Coin’s Pearson correlation with BONK is a comfy 0.79, and with Shiba Inu, it’s a respectable 0.62. That’s a decent little connection, if you ask me. 📈

The Pearson correlation metric is like the awkward first date-you get a sense of how much two assets like each other. A 1.0 means true love, while 0.79 shows that Pi Coin and BONK are practically holding hands. 🤝

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Why does this matter, you ask? Because Bonk is a meme coin… a real “leader” in that space. If the Dogecoin ETF (DOJE) creates a meme coin mania, Pi Coin might just catch the ride, thanks to its close relationship with this bizarre sector of the market. 🤑

But wait, there’s more! The money flow is starting to look slightly bullish. The Chaikin Money Flow (CMF) indicator, which tracks the movement of cash into or out of assets, just turned positive at +0.02. A flicker of hope! 🙌

The last time CMF shifted like this, on August 30, Pi Coin had a brief green bounce. The timing might be pure coincidence, but with CMF rising and Pi Coin getting all cozy with BONK, well… let’s just say it’s not a total stretch to think buyers are making their move, hoping for a meme coin rally post-DOJE ETF. 🤷‍♂️

For a solid move, CMF would need to hit +0.08, like it did back in late August. That would mean a lot more cash is backing this meme coin story. But right now, even the smallest uptick in CMF would be a win for Pi Coin traders. 🙏

Bearish Grip Eases, but Not Gone Yet (We’re Watching You, Bears)

Now let’s talk about the Bull-Bear Power (BBP)-no, it’s not the latest superhero movie. This little indicator helps us see who’s winning in the buy-and-sell battle. Since September 2, the BBP suggests that the selling pressure is, um, loosening up. But the bears are still technically in control. 🐻

The pressure is weakening, though. In the past, this has led to fleeting moments of upward movement. If the bears get too tired (probably from all that grumbling), even a small push from the bulls could send Pi Coin soaring for a brief moment. 🎯

The bears weakening right before the meme coin ETF launch? Hmm, smells fishy… but in a good way. 🐟

The technical chart still screams “bearish” though. Pi Coin is stuck in a descending triangle, a pattern that’s historically linked to breakdowns. The support is hanging around $0.33 and $0.32, and if those levels crumble, well, we might just see Pi set some new all-time lows. That’s a nice little plot twist, isn’t it? 😬

But here’s the catch-unless the bulls can push Pi Coin above $0.36, that bearish setup still holds. So, even if we do get a tiny bounce, it might just end up being a one-off green candle rather than a rally. Sorry, no happy ending… yet. 😅

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2025-09-11 00:54