Pi Network Price Prediction as Experts Shift to New Coin
3 min read
Pi Network continues to move laterally this week, even after Bitcoin and most old coins have broken out. It has remained around 0.60 US dollars this month, which could trigger a short squeeze in the coming days or weeks.
PI network price forecast
The 12-hour diagram shows that the PI-Münz Prize has remained unchanged this month, even though data from third-party providers indicate a higher volume. Coinmarketcap data show that the token had a 24-hour volume of $ 60 million.
A closer look at this consolidation shows that it takes place in a place where it formed a double floor pattern. This pattern comprises two different low levels and a neckline that is $ 1.667 in this case, the highest level in May.
A double floor pattern usually leads to a strong bullish outbreak, as it signals that bears are afraid of laying short business below the price.
Read more: Here is the reason why Pi Network Coin Price can rise this week
Another bullish catalyst for the price of PI Network is that the top volatility indicators indicate a potential squeeze. For example, the indicators of historical volatility and the average actual range (ATR) (ATR) (ATR), as the following diagram shows, fell.
Similarly, the three lines of the Donchic channels have narrowed considerably. The same applies to similar indicators such as Bollinger tapes and the Klinger oscillators.
Therefore, these indicators will point out a strong Bullisches Breakout in the coming weeks or days. In this case, the PI -Münz Prize will probably be transferred to the psychological point at 1 US dollar, followed by the high of USD 1.65 in the last month.
Some catalysts can trigger a PI network with a short square, the most important thing being a CEX exchange list. Such a step, especially through an exchange such as bony or uplit, would probably lead to a strong advantage, as we saw with token like Pocket Network and live person.
PI network price diagram | Source: Tradingview
Bitcoin Pepe wins in dynamics
In the meantime, Krypto dealers are relocating to Bitcoin Pepe, a project that is supposed to disrupt the Meme Münz industry. While Bitcoin Pepe does not create a meme coin himself, he builds up a Bitcoin layer 2 network, which hopes that it will be the largest starting pad for them.
Bitcoin Pepe's approach reflects that of other Layer 2 networks such as the Lightning Network, the stack, the root floor and the Merlin chain. The only difference in these is that they are intentionally built for Meme coins.
While Meme coins have no use, they are among the most popular cryptocurrencies in the industry. For example, Coingecko data show that their 24-hour volume was $ 8.7 billion, with Dogecoin, Pepe and Dogwifhat the most popular.
Bitcoin Pepe has already become viral and has collected over 14.1 million US dollars from thousands of investors. This dynamic has recently increased before a great announcement in which the developers will present the listing date. After the first purchase, they also offer a 30% bonus. Here you can buy Bitcoin Pepe.
