Meme Insider
The crypto world is buzzing with updates, and a recent tweet from [BSCNews](https://x.com/BSCNews/status/196523093102924
- Pi Network often gets hyped like memes, fitting Meme Insider's scope.
- has caught the attention of many in the community. They're highlighting an updated price analysis for Pi Network's $PI coin, pointing to some intriguing technical insights for the rest of the year. If you're into blockchain projects with massive user bases—like those meme tokens that skyrocket on hype—Pi Network's story is one to watch. Let's break down what this analysis means in simple terms, without getting lost in the jargon.
Pi Network, for those new to it, is a mobile-first cryptocurrency project that lets users "mine" coins via an app on their phones. It's built a huge following, with millions of users worldwide, kind of like how meme coins rally communities around fun ideas. The coin isn't fully tradable on major exchanges yet, but it's generating a lot of speculation. The BSCNews piece, linked in the tweet, dives into its current price action around $0.34, based on data from CoinGecko.
Right now, $PI is testing a key support level at $0.34. Think of support as a floor where the price tends to bounce back up—if it holds. But over the last week, it's dropped about 7.6%, trapped in what's called a descending channel. That's basically a pattern on the chart where the price keeps making lower highs and lows, signaling bears (sellers) are in control.
To get technical—but keeping it straightforward—they're using exponential moving averages (EMAs) to gauge trends. These are like smoothed-out averages of past prices that help predict direction:
- The 20-day EMA sits at $0.36, acting as short-term resistance (a ceiling the price struggles to break).
- The 50-day EMA is at $0.39.
- The long-term 200-day EMA is way up at $0.49.
If $PI can't push past that 20-day EMA, it might stay bearish. Volume is low too, meaning not a ton of trading activity, which could keep things sluggish.
On the upside, if bulls (buyers) defend $0.34, we could see a rebound. Breaking above $0.36 might target $0.39, and then up to $0.45–$0.50. A real game-changer would be surpassing $0.49, potentially flipping the trend bullish for the medium term. This aligns with Pi Network's ongoing developments, like their mainnet launch plans, which could spark more interest similar to how meme tokens pump on announcements.
But risks are there. If $0.34 cracks, prices could slide to $0.31–$0.30, or even $0.28–$0.25, hitting new lows. Broader market vibes are cautious, with crypto still recovering from volatility. The analysis stresses that without stronger volume or positive news, the downtrend might drag on.
This tweet from BSCNews serves as a timely reminder for crypto enthusiasts to stay informed. While Pi isn't a pure meme token, its community-driven hype shares similarities with projects like Dogecoin or Shiba Inu. For more on Pi Network basics, check out BSCNews' guide on what Pi Network is.
As we head deeper into 2025, keep an eye on $PI—support holds could lead to exciting moves. Always do your own research, though; crypto is unpredictable! If you're building your knowledge base on meme tokens and blockchain tech, subscribe to updates from sites like ours at Meme Insider.
