Ah, Pi Coin! The star of the crypto world, now descending into the abyss with all the grace of a stone skipping across a frozen lake. Currently, it’s dangerously close to its all-time low, as if it were standing on the edge of a precipice, waiting for an unfortunate gust of wind to push it over. The previous encounter with this depressing level was at the start of August, and all signs indicate that we may revisit this thrilling moment in September.
The mood among investors? Pessimistic at best. It’s like watching a group of people trying to sell a sinking ship, with no one willing to buy the life jackets. Selling pressure is suffocating the poor altcoin, preventing it from even thinking about recovering any previous support levels.
The Suffering of Pi Coin
Behold the Chaikin Money Flow (CMF), a reliable indicator that’s practically crying out, “Sell, sell, sell!” Currently, it’s at a six-week low, which means one thing: strong selling pressure. Investors are fleeing from Pi Coin like rats from a sinking ship, and without any fresh capital inflows, the chances of a rebound are about as likely as a miracle.
With every passing day, Pi Coin seems to grow more and more fragile. The price is now hovering near its all-time low, and the mood in the market is one of despondency. Investors have left the building, and the sentiment is so negative that even a glimmer of hope would be like a candle flickering in the middle of a storm.
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And then, there’s the pesky little problem of Pi Coin’s correlation with Bitcoin. At a whopping 0.92, it’s practically glued to Bitcoin’s every move. If Bitcoin stumbles, Pi Coin is sure to follow, like a loyal dog chasing its master into the abyss.
August was a tough month for both, as Bitcoin failed to reclaim $115,000, and Pi Coin, like a devoted follower, kept sliding down the same slippery slope. If Bitcoin continues to slide into oblivion, Pi Coin is not likely to be far behind, possibly setting new lows.
Will Pi Coin Break Free from Its Miserable Fate?
Pi Coin is currently languishing at $0.353, just below resistance at $0.362. For the past three months, it’s been stuck in a relentless downtrend. Attempts at escape? Four failed attempts to break out, leaving the token vulnerable, as if it were a rabbit trapped in a snare.
If this sorry state continues, Pi Coin could soon lose support at $0.344. A further plunge to $0.322 would revisit its all-time low, and at this point, it’s anyone’s guess how much further it might fall. The possibility of a price collapse to $0.300 looms like a dark cloud, confirming new weaknesses and possibly setting fresh historic lows for the token.
However, if by some miracle Pi Coin manages to break free from this curse, it could reclaim $0.362 as support and potentially rally toward $0.401. This might be enough to stabilize the market, offering some relief to investors clinging to hope like a lifeline.
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2025-08-29 19:12