Pi Coin is currently trading like any top meme coin — Will the price follow?

Pi Coin price increased by 5.5% last week, outperforming XRP, BCH, Ton, and even Uniswap. However, the broader price decline has raised questions among investors.

A new line of thinking has emerged, aligning its price behavior with coins from a popular cryptocurrency sector; a change that could reshape its short-term prospects.

Current Pi Coin Correlation Reflects Major Meme Coins

The latest monthly correlation data shows that PI's market behavior has changed significantly. Currently, it has a correlation of 0.76 with Dogecoin, 0.84 with Shiba Inu, 0.89 with Bonk, and 0.86 with Floki. These numbers firmly place PI in the meme coin volatility group, meaning the sector's surges and corrections are likely to spread to Pi Coin's price action.

If meme coins start another price surge, PI could leverage that momentum. Conversely, if the sector cools down, PI's recent linkage means it could quickly follow suit, making meme coin sentiment the most critical short-term factor for Pi Coin's direction.

A Pearson correlation matrix is a table showing the strength of how different variables move in relation to each other, using Pearson correlation coefficient values from -1 to +1. Values near +1 mean two variables move in the same direction most of the time, values near -1 mean they move in opposite directions, and values near 0 mean little or no linear relationship. In cryptocurrency analysis, it is often used to measure the extent to which a coin's price changes track or differ from other coins over a specific period.

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Technical Risks Increasing on 4-Hour Chart

Pi Coin's increasing correlation with top meme coins means it is currently more susceptible to sector-wide movements. In recent days, the meme coin market has been under pressure, and if this weakness continues, Pi Coin could be pulled lower.

On the 4-hour chart, the 20-period EMA or Exponential Moving Average (orange line) is approaching crossing below the 50-period EMA (red line); a pattern called the Death Cross. If this crossover is confirmed while meme coin sentiment remains negative, it could increase selling pressure and deepen the current correction.

The Exponential Moving Average (EMA) is a type of moving average that prioritizes recent price data, making it more sensitive to short-term price fluctuations compared to the Simple Moving Average (SMA).

Pi Coin Price Action Maintains Bullish Divergence Setup

The link between Pi Coin and meme coins means any recovery in that space could spread to PI's price action.

On the daily chart, the token shows a clear bullish RSI divergence; price has created a lower high, but RSI has printed a higher high. RSI is holding near 43.71, and a push above 47 would confirm a new high, reinforcing the bullish case.

If meme coins recover, that momentum could be the missing trigger for Pi Coin. This could help PI reclaim $0.39 and retest the $0.41–$0.43 range. Until then, the setup remains unconfirmed, and the 4-hour Death Cross risk still haunts the chart.

A break below $0.37 would not only invalidate the divergence but also make Pi Coin more vulnerable. Especially if the correlated sector continues to weaken. The price chart still has a slight bullish bias. But the sector's trend will determine whether that advantage turns into a breakout or fades with the rest of the market.