Jakarta, Pintu News – As of October 23, 2025, Pi Network has experienced another small decline, down 1% in 24 hours, 4.9% in the past week, and nearly 26% so far this month. The token has been moving in a narrow price range over the past few days, indicating a lack of interest from traders.
Nevertheless, the big wallets haven’t completely abandoned the market. They still seem to be waiting for a clearer signal – and that signal could come from the meme coin cycle.
In the past month, Pi Coin’s price movements have started to resemble those of Dogecoin and Bonk . Pi Coin’s correlation coefficient now stands at 0.87 with DOGE and 0.94 with BONK – meaning that Pi’s price often moves in the same direction as the two meme tokens.
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The Pearson correlation coefficient measures how closely related the movements of two assets are, with values close to 1 indicating a strong positive correlation.
This close relationship shows one thing: Pi is now heavily influenced by the general meme coin market sentiment. Pi Coin’s monthly price drop of 26% also reinforces this influence – it falls between Dogecoin’s 20% and Bonk’s 30% drop.
The Relative Strength Index (RSI) indicator – which measures the strength of price momentum – on the daily chart showed a potential reversal. Between September 23 and October 22, the Pi price continued to record new lows, but the RSI actually printed higher lows – forming a bullish divergence pattern.
This means that momentum is starting to improve even though the price is still declining. If meme coin starts to recover, this RSI pattern on Pi could be an impetus for an increase, especially since there is still interest from large holders. Details about them will be discussed further in this article.
And if the altcoin market as a whole starts to show a positive reaction, this correlation could be a boon for Pi Coin, reinforcing the potential recovery that follows the coin meme cycle.
If this bullish divergence pattern does materialize, the first upside target for PI is around $0.21 – slightly above the current 0.382 Fibonacci level at $0.19. A clean daily close above $0.29 would confirm the breakout and invalidate the bearish structure, which could restore confidence in the short term.
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It should be noted, however, that on the daily time frame, the price of PI is still moving against the descending trendline. This trendline, along with the obvious Fibonacci levels (marked in orange), forms a bearish structure – adescending triangle pattern to be precise.
The Chaikin Money Flow (CMF) indicator – which measures how much money is entering or leaving the market – also supports this narrative. Despite the price drop, the CMF has remained positive since September 12, indicating that the big wallets haven’t really exited the market.
Between August 29 and October 22, the CMF showed higher lows, reflecting a bullish divergence similar to the RSI, and hinting that fund inflows were still taking place behind the scenes.
However, if the $0.19 level fails to hold, Pi Coin could potentially drop to $0.18 (Fibonacci 0.236), or even to $0.15 – which would mean a further drop of between 9% to 20%, while confirming new bearish momentum.
However, with RSI and CMF both showing bullish divergence, the chances of arelief rally will increase if the price manages to stay above $0.19.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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