The global cryptocurrency market cap stands at $3.07 trillion, down 1% over the past 24 hours. Bitcoin (BTC) is holding steady near $94,880, while altcoins like LTC, XRP, AVAX, and LINK have recorded losses.
As for Pi Coin, the altcoin has struggled since peaking near $3 in February, with its price action remaining largely bearish. Pi Coin has recorded a 12% monthly decline despite a few short-lived rebounds.
Will Pi Coin Price Rise in May?
However, as May approaches, there are signs that Pi Coin could be gearing up for a recovery. Pi is currently trading at $0.6249, showing a 7% rise, and with a market cap now over $4 billion.
While the broader crypto market sentiment shows improvement, Pi’s rise is still being limited by the absence of key catalysts, such as major exchange listings or significant mainnet upgrades. evel.
On the technical front, the RSI has steadily improved from its April lows, showing growing accumulation, although at a slower pace. Overall, traders appear cautiously optimistic about Pi Coin’s future, given its historic volatility and the relatively low liquidity on exchanges. Additionally, 7.8 million Pi tokens are set to be unlocked today, which could impact the price.
Is $1.70 Incoming?
Despite all these challenges, analysts like Dr. Altcoin believe that Pi Coin’s price could rise to $1.70 by mid-May. The expected price increase is based on upcoming events, particularly the Consensus Summit scheduled for May 14–16, where Dr. Nicholas Kokkalis, the founder of Pi Network, is expected to give a speech.
Analyst Andrew Griffiths shared that Pi Coin is currently stuck between the bulls and bears around the 0.6 level. If the trend continues upwards and breaks above 0.75-0.78, it could reach 1. However, if the price drops below 0.55, it could signal a bearish trend, possibly heading towards 0.288.
Dankrad Feist has unveiled a massive scaling proposal for Ethereum to save the network from a steep decline. The researcher notes that an unconventional Ethereum Improvement Proposal (EIP) to increase the gas limit will be a lifeline for the beleaguered network.
Ethereum developer Dankrad Feist has submitted EIP-7938 designed to increase Ethereum’s gas limit exponentially. According to the improvement proposal, the ambitious plan is seeking to increase the network’s capacity by 100-fold in a push over the next four years.
While the plan is an uphill climb, Dankrad Feist argues that EIP-7938 is a necessary for Ethereum’s survival over years. However, community members have poked holes in the proposal for being unconventional but Dankrad Feist says a 100X scaling for Ethereum is the solution to waning network activity.
“I do think it is time for being unconventional, because the current way of doing things is likely to make Ethereum irrelevant over the next 5-10 years,” said Feist.
Cardano founder Charles Hoskinson says Ethereum will fall within 15 years given its outdated tech and L2 fragmentation. Solana’s rise and glowing network activity have not only sparked speculation of a flippening but is stoking conversation of Ethereum’s incoming demise.
Here’s Why The Expert Is Defending The Massive Scaling Proposal
Apart from handing a lifeline to the network, Dankrad Feist notes that the 100X scaling proposal will be the strongest statement of intent for the network. For starters, the proposal offers strategic benefits to Layer 1 while preventing fragmentation of liqudity across several L2s.
Secondly, the expert argues that Ethereum can scale the L1 by 100X without losing its verifiability and censorship resistance perks. Finally, Feist committing to the scaling timeline will offer a range of benefits including the advantages of “working backwards from a goal” rather than sticking to small, incremental changes.
“Ethereum L1 is currently still the home for DeFi but this might not be true for much longer if we don’t start strongly supporting applications,” said Feist.
The developer warns that the final outlook might see some part of Ethereum look like Solana but he says comparison is “irrelevant.”
Firms like Galaxy Digital are offloading ETH for SOL given an underwhelming price performance for the largest altcoin. ETH price currently trades at $1,845 after a shoddy performance in Q1, sparking fears of a steeper drop below $1,000.
The Ethereum-to-Bitcoin ratio has sunk to its lowest level in five years with Taproot Wizard co-founder Eric Wall blaming the decline on rising competition and the failure of ETH to evolve as a “wartime asset.”
Notable Solana meme coins to watch in March include DOGEai (DOGEAI), Official Trump (TRUMP), BONK, AI16Z, and Official Melania (MELANIA). DOGEai has surged nearly 20% in a week, capitalizing on AI and government transparency narratives.
TRUMP could see renewed interest from the White House Crypto Summit, while BONK remains the second-largest Solana meme coin despite a sharp decline. AI16Z is struggling along with the broader AI crypto sector, and MELANIA has faced heavy losses but could benefit from the upcoming political events.
DOGEai (DOGEAI)
DOGEai, an artificial intelligence meme coin, has a market cap of nearly $35 million after rising over 50% in the past two weeks. The project capitalizes on Dogecoin’s popularity, the growing interest in DOGE (Department of Government Efficiency), and the AI crypto trend.
It functions as an autonomous AI agent designed to analyze government spending and policy decisions, providing bill summaries and insights into public expenditures.
If the uptrend continues, DOGEai could challenge resistance at $0.0573, with upside targets at $0.0683 and potentially $0.098 in a strong bullish move.
On the downside, support sits at $0.048, and a breakdown below that level could send the price to $0.029 or even $0.0119.
Official Trump (TRUMP)
The upcoming Trump Crypto Summit, set for tomorrow, could significantly impact Official Trump (TRUMP), a meme coin that has been struggling below $20 for over two weeks. The event could reignite interest in the coin, which has been in a downtrend for several weeks now.
TRUMP was one of the most hyped meme coins at launch, briefly reaching a $15 billion market cap. However, it has since lost over 80% of its value and is now worth $2.7 billion.
If momentum returns, TRUMP could test resistance at $14.4, $17.4, and $20.7, with a strong rally pushing it toward $24.5 for the first time since January 31.
On the downside, continued selling pressure could bring the price to support levels at $12.17 or $11, with a break below $11, making new all-time lows.
BONK
BONK, once the largest Solana meme coin, now holds the second spot after being surpassed by TRUMP, with a market cap of around $983 million.
Despite remaining one of the most relevant Solana meme coins, its valuation has dropped significantly from its $4 billion peak in November 2024. The broader Solana ecosystem has been in a sharp correction over the past 30 days, weighing on BONK’s price action.
If Solana and its meme coins regain momentum, BONK could test resistance at $0.000014 and $0.0000156. A breakout above these levels could push the price to $0.0000197, with a strong rally potentially sending it as high as $0.0000265.
However, if the correction continues, BONK could drop below $0.000012, test $0.0000109, and possibly fall under $0.00001 for the first time since December 2023.
AI16Z
AI16Z, a Solana-based crypto AI agent meme coin, has a market cap of around $315 million. Like the broader AI agent crypto sector, it has been in a sharp correction over the past 30 days, with its price dropping nearly 30%.
Despite this downturn, some AI-related coins have shown signs of recovery in the past week, creating uncertainty around the sector’s next move.
If momentum returns to the crypto AI agents narrative, AI16Z could test resistance at $0.419, with a breakout potentially sending it to $0.627.
On the downside, if the correction continues, the price could drop to test support around $0.25, and a break below that level would push AI16Z to its lowest price since November 2024.
Official Melania (MELANIA)
MELANIA, like TRUMP, could benefit from Trump’s Crypto Summit as investors look for catalysts in political-themed meme coins. Launched on January 19, MELANIA quickly surged to a $2 billion market cap but has been in a steep decline since, dropping 50% in the last 30 days.
The coin has struggled to find support, trading below $1 for more than a week and hovering near its all-time lows.
A strong rebound could push MELANIA to $0.94 and $1.296, with further momentum driving it to $1.39 and potentially $1.61 for the first time since February 6.
On the downside, if the selloff continues, MELANIA could break below $0.795 and $0.763, with a drop under $0.7 setting new record lows.
Ripple token is among the top cryptos of the market, and the XRP Rich List for June clearly explains the popularity, as 6.65 million accounts hold billions worth of tokens. Notably, in most cases, the top 100 wallets carry the majority of the token holdings, and the same holds true here as well. But Ripple’s
