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The Pi Network price plummeted over 17% in the last 24 hours to trade at $0.6147 as of 3:18 a.m. EST as investors dump their holdings in the crypto on the market.
The drop in the PI price comes even after Bitunix launched futures trading for the altcoin on its platform.
📣 $PI @PiCoreTeam Trading is now available on Bitunix Futures!
🚀 Futures Trading https://t.co/oXvKTInRtj
ℹ️ More Details https://t.co/VY3xIj4yus pic.twitter.com/qsOZNeWGhk
— Bitunix (@BitunixOfficial) April 14, 2025
Pi Network Price Resting On Support, Will The Level Hold?
4-hour chart for PI/USDT (Source: TradingView)
The Pi Network price is resting on a support level at $0.6032. Should the crypto drop below this technical safety net within the next 12 hours, it could stand the risk of plunging all the way down to the subsequent support at $0.5054.
However, traders identifying the current Pi Network price as a buy opportunity might lead to a more bullish scenario playing out in the short term. Traders could then try to push PI up to the resistance at $0.7519. Thereafter, continued pressure from buyers might boost the Pi Network price all the way up to $0.8650.
Pi Network Price Might Undergo A Bullish Trend Reversal Soon
From a technical standpoint, it seems PI is in a short term negative trend. However, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators on the 4-hour chart show that the bearish cycle may have reached its peak.
In the last couple of hours, the MACD line has started to level off below the MACD Signal line after a violent drop over the past 24 hours. While the alignment of the two lines is still negative, the leveling off of the MACD Histogram slope suggests a bullish trend reversal might be in the cards for the altcoin.
The current RSI reading in the low 30s also indicates the Pi Network price is nearing oversold territory, which is signaled by an RSI value below 30.
Usually, low RSI readings are seen as a buy signal, because they suggest that a crypto’s upside potential is greater than its downside potential.
Given the leveling off MACD Histogram slope, PI nearing oversold conditions and the altcoin’s price resting on support, traders might start to enter into long positions for the crypto in coming hours.
While PI clings to support, traders are buying a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL) that’s giving away real BTC.
Influential YouTube channel 99Bitcoins, which has over 725K subscribers, predicts the meme coin could soar 10X after its launch.
Investors Will Receive Free Bitcoin By Just Holding BTCBULL
BTC Bull Token aims to support Bitcoin on its journey to $1 million per coin and beyond, rewarding its token holders with BTC airdrops and BTCBULL token burns as the leading crypto’s price climbs.
According to BTC Bull Token’s website, the next airdrop will be when Bitcoin’s price reaches $150K for the first time. There will then be an airdrop with every $50K increase in BTC’s price thereafter.
Meanwhile, the next BTCBULL token burn will be triggered when BTC hits $125K, with every subsequent $25K increase in price also permanently removing BTCBULL tokens from the meme coin’s supply. These burns are meant to mimic BTC’s ever-growing scarcity.
The combination of BTC airdrops and BTCBULL token burns could lead to a favorable supply and demand scenario for the meme coin. As more investors rush to buy to get in on the BTC airdrops, it will introduce some upside pressure on the crypto’s price, which will likely be boosted by the shrinking supply.
Given BTC is currently trading above $83K, BTC Bull Token could be a more cost-efficient alternative for investors looking to gain direct exposure to the flagship crypto. In addition to the much cheaper BTC exposure, BTCBULL also stands to surge off of its meme coin appeal.
Investors Rush To Buy BTCBULL While It’s Still In Presale
The opportunity to receive free Bitcoin has prompted investors to pump more than $4.7 million into the project’s presale.
Selling for $0.002465, the meme coin can be bought with either crypto or bank card. There is also an 87% annual return for investors who stake their tokens.
Buyers looking to secure the best deal will want to hurry, however, because the token’s price will increase as its presale progresses. The next price hike is due in about 2 days.
Learn more about BTC Bull Token.
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