Pi Network may welcome a Rebound, and the launch of the DOGE ETF could serve as a potential catalyst for PI.

Pi Network (PI) has fallen nearly 15% in the past month. Although it has slightly risen by 1% in the last 24 hours, the overall trend remains weak. However, with the upcoming launch of the DOGE ETF, the market is showing two major signals indicating that Pi coin may experience a short-term Rebound.

is highly related to meme coins

Data shows that the Pearson correlation of Pi coin with Bonk is as high as 0.79, while the correlation with Shiba Inu (SHIB) is 0.62, indicating that its price trend is highly synchronized with the meme coin sector.

As Bonk is one of the leaders in the meme coin space, if the DOGE ETF listing triggers a collective pump in meme coins, the PI coin is likely to follow suit.

Funds flow turns positive

(Source: Trading View)

The Chaikin Money Flow (CMF) indicator that tracks capital inflow has turned to +0.02, marking the first return to positive territory in nearly two weeks. The last time a similar situation occurred was on August 30, when PI coin experienced a quick short-term rebound.

If the CMF rises to +0.08, it will indicate a larger scale of capital inflow, further supporting the Rebound market.

The power of the bear market weakens

The Bull-Bear Power (BBP) indicator shows that since September 2, the selling pressure of Pi coin has been easing. Although the bears still dominate, their advantage is narrowing, which means that even if buying momentum is weak, it could trigger a short-term pump.

Technical aspects still carry risks

(Source: Trading View)

Despite the rebound signals, PI coin is still operating within a descending triangle pattern, which is a bearish technical structure.

Support levels: $0.33 and $0.32

Resistance level: $0.36 (only possible to reverse the bearish pattern after breaking through)

If it falls below 0.32 USD, PI may test historical lows, and the rebound expectation will be broken.

Conclusion

Pi coin is currently at a key moment where the technical outlook is bearish but the funding aspect is warming up. The launch of the DOGE ETF may become a short-term catalyst, driving the meme coin sector to collectively pump and subsequently push Pi coin to rebound. However, if it cannot break through 0.36 USD, the rebound may only be a brief correction. Investors should closely monitor the ETF listing progress and the performance of key support levels.