Pi Coin has slipped slightly again, down 1% in the past 24 hours, 4.9% over the past week, and nearly 26% this month. The token has been range-bound for days, showing little enthusiasm from traders.
Yet, big wallets haven’t completely walked away. Instead, they appear to be watching for a clearer signal — and that cue might come from the meme coin cycle. Surprised? Well, read on to know how the meme coin connection can impact the Pi Coin price.
SponsoredMeme Coin Link Meets a Bullish Signal
Over the past month, Pi Coin’s price swings have started to mirror those of Dogecoin and Bonk. Its correlation coefficient now stands at 0.87 with DOGE and 0.94 with BONK, meaning it often moves the same way as these meme tokens.
The Pearson correlation coefficient measures how closely two assets move together, with values near 1 showing strong positive correlation.
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This tight link points to one thing: PI is now heavily influenced by the broader meme coin sentiment. And the monthly Pi Coin price drawdown of 26% also validates this influence. The month-on-month dip falls between Dogecoin’s 20% and Bonk’s 30% drops.
The Relative Strength Index (RSI) — which tracks momentum — on the daily chart is hinting at a possible rebound. Between September 23 and October 22, Pi’s price made lower lows, but RSI made higher lows, forming a bullish divergence.
That means momentum is improving even as price trends down. If meme coins recover, PI’s RSI setup could give it a push upward, supported by lingering interest from larger holders. More about them later in this piece.
And if the broader altcoin market begins reacting again, this correlation could play in Pi Coin’s favor, amplifying any rebound that follows the meme coin cycle.
Pi Coin Price Levels and Money Flow Hint at an Underlying Strength
If this bullish divergence unfolds, PI’s first major target sits near $0.21, just above its current Fibonacci 0.382 level ($0.19). A clean daily close over $0.29 would confirm a breakout and invalidate the bearish structure, potentially restoring short-term confidence.
Do note that on the daily timeframe, the PI’s price is trading against a descending trendline. That trendline, along with clear Fibonacci bases (marked in orange), marks the bearish structure (descending triangle to be exact).
The Chaikin Money Flow (CMF) — which measures how much money is entering or exiting the market — supports the same story. Despite falling prices, CMF has stayed positive since September 12, showing that big wallets haven’t fully exited.
Between August 29 and October 22, CMF formed higher lows, showing a bullish divergence similar to RSI and hinting that money inflow continues beneath the surface.
However, if $0.19 fails to hold, Pi could slip toward $0.18 (0.236 Fibonacci) or even $0.15, marking a 9%–20% downside and confirming renewed bearish momentum. However, with both RSI and CMF flashing bullish divergence, the odds of a relief rally increase if $0.19 holds.
