Pi Network's native token has rebounded approximately 35% from its July low and currently trades around $0.095, according to CoinGecko data. The token has gained 11% over the past month and remains among widely discussed cryptocurrencies in the market.
Industry participants have offered varied price forecasts for PI. Some analysts point to a key support zone between $0.09 and $0.10, suggesting potential for an uptrend above $0.30 if the token reclaims $0.20. Others have noted growing speculation about a possible burning mechanism, though this development has faced skepticism from some market observers.
Ethereum's September Outlook
Ethereum, the second-largest cryptocurrency, jumped nearly 5% in a 24-hour period and has exceeded the $2,500 level. Spot Ethereum ETFs posted 12 consecutive days of inflows before pausing on September 2, with momentum returning in the following 24 hours.
Several bullish indicators suggest potential for further gains. The amount of ETH held on cryptocurrency exchanges recently fell to approximately 14.9 million coins—the lowest level since summer 2016—signaling reduced selling pressure as investors avoid centralized platforms.
However, seasonal patterns present a cautionary note. Ethereum has closed seven of the past 11 Septembers in negative territory, and no year has seen both August and September close with gains. August delivered a 32% price increase for ETH.
Shiba Inu Faces Headwinds
Shiba Inu appears more likely to underperform in September compared to posting a major rally. Concerns include stalled activity on Shibarium, a declining burn rate, and the token's historical poor performance during September, finishing in the red three out of five times.
Some optimism persists, as the token gained 7.5% in August and posted gains in both August and September during 2021, raising hopes for a repeat performance.
