๐ฅ Gate Square Event: #PTB Creative Contest# ๐ฅ
Post original content related to PTB, CandyDrop #77, or Launchpool on Gate Square for a chance to share 5,000 PTB rewards!
CandyDrop x PTB ๐ https://www.gate.com/zh/announcements/article/46922
PTB Launchpool is live ๐ https://www.gate.com/zh/announcements/article/46934
๐
Event Period: Sep 10, 2025 04:00 UTC โ Sep 14, 2025 16:00 UTC
๐ How to Participate:
Post original content related to PTB, CandyDrop, or Launchpool
Minimum 80 words
Add hashtag: #PTB Creative Contest#
Include CandyDrop or Launchpool participation screenshot
๐ Rewards:
๐ฅ 1st
Pi Coin's Price Movement Linked to Potential Dogecoin ETF
A recent article suggests that Pi Coin (PI), which has been experiencing a price decline, could see a short-term boost from a potential Dogecoin (DOGE) ETF launch. The connection isn't direct, but is based on the correlation Pi Coin has with other meme coins.
The Meme Coin Correlation
The article highlights that Pi Coin has a strong correlation with other meme coins, specifically a 0.79 Pearson correlation with BONK. This means that Pi Coin's price tends to move in tandem with BONK's. Since BONK is a leader in the meme coin sector, a rally sparked by a Dogecoin ETF could potentially lift the entire sector, including Pi Coin.
Technical Indicators Point to a Potential Bounce
Beyond the market correlation, the article also points to technical indicators that support a possible price bounce for Pi Coin. The Chaikin Money Flow (CMF) has turned positive, indicating that new money is beginning to flow into the token. Additionally, the Bull-Bear Power (BBP) shows that selling pressure is weakening, even though bears are still in control. These signals suggest that traders might be preparing for a rally.
The Outlook: A Critical Juncture
While the technical and correlation signals are optimistic, the article notes that Pi Coin's price is still under bearish control. However, if the Dogecoin ETF news does trigger a broader meme coin rally, it could provide the necessary momentum for Pi Coin to experience a relief bounce.
๐ Disclaimer
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high level of risk and volatility. Always conduct your own research (DYOR) and consult a professional financial advisor before making any investment decisions.