Pi Network price remains in a deep slumber even as Bitcoin and most altcoins rebounded following the Iran-Israel truce. Pi Coin token was trading at $0.5410, a level it has remained at in the past few days. This price is about 67% below the highest point in March.
Pi Network Price Prediction Points to a Rebound
The 12-hour chart shows that the Pi Coin price has crashed from a record high of $2.99 in February to the current $0.5410.
This crash happened as centralized exchange (CEX) listings remained elusive and as the Pi Network Ventures announcement came short of expectations. Pi has also continued to have substantial token unlocks that have boosted supply.
However, there are signs that the token will bounce back in the coming days. This chart shows that the token formed a double-bottom pattern at $0.3945 and a neckline at $1.6622.
A double-bottom is a common reversal pattern comprising of two distinct lows and a neckline. It often leads to a strong rebound since it signals that bears are afraid of shorting it below the double-bottom point.
Pi Network price has also formed a falling wedge pattern, comprising of two descending and converging trendlines shown in green. In most cases, this pattern often leads to a strong bullish breakout when the two lines are nearing their confluence level.
Indicators point to more gains as well. The Relative Strength Index (RSI) has emerged from the oversold level of 22 to the current 42, while the Percentage Price Oscillator (PPO) has formed a bullish divergence pattern.
The other notable indicator is the Bollinger Bands, whose three lines have narrowed, signaling that it has no volatility. This formation often leads to a squeeze in either direction, but in this case, chances are that the breakout will happen in the upper side.
Therefore, a bullish breakout will likely push Pi Network price to the psychological point at $1, which is about 85% above the current level. A move above that level will signal more gains to the double-bottom’s neckline at $1.66.
The bullish Pi Coin price forecast will become invalidated if it drops below the support level at $0.3945.
Pi Network price chart | Source: TradingView
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Bitcoin Pepe is Firing on All Cylinders as it Nears $16M in Total Raised
Meanwhile, crypto traders are embracing Bitcoin Pepe (BPEP), a fast-growing project currently in a presale that has raised almost $16 million. Bitcoin Pepe’s goal is to disrupt the crypto industry by focusing on Bitcoin and meme coins.
Most meme coins today are launched on Solana, a popular network known for its speed and low transaction costs. Other tokens are launched on chains like Ethereum, Binance Smart Chain (BSC), and Binance Chain.
Until now, it has not been possible for one to launch a meme coin on Bitcoin because it lacks smart contract features. This is where Bitcoin Pepe comes in as its developers are building a Bitcoin layer-2 network similar to Stacks and Core.
While most layer-2 networks focus on all areas like DeFi and gaming, Bitcoin Pepe specifically focuses on the meme coin industry, which is now valued at over $60 billion.
With Bitcoin Pepe, users will be able to launch new Bitcoin meme coins easily using a platform with low transaction costs and fast speeds.
Bitcoin Pepe’s token sale is about to end, and the developers are providing a 30% bonus. Most importantly, the current price is lower than the planned listing one, almost guaranteeing a positive return. You can buy the BPEP token here.
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