Analysis of the price trends of crypto PI, SUI, and Dogecoin (DOGE)

The crypto markets seem to be in trouble again, this time mainly following the price trends of PI, SUI, and Dogecoin (DOGE).

Analysis and comparison between the crypto PI, SUI, and Dogecoin (DOGE)

Pi is the native cryptocurrency of Pi Network.

Despite the network having existed for several years, the crypto debuted on the market only a few weeks ago.

Initially, the trend of its price was declining, but by the end of February, it had risen enough to almost bring Pi into the top 10 cryptocurrencies by market capitalization.

Now instead it has slipped to the 26th place.

The debut on February 20 occurred at a price of about $1.8, but already the day after it had fallen below $0.7.

After climbing back up to almost $3 at the end of February, the prezzo di Pi has now returned to $0.7.

So the one at the end of February was just a mini-bubble, inflated in just five days, and then burst in about a month.

At this point, the drop on the day following its debut, down below $0.7, should be considered as the initial adjustment of an excessive initial price, while what happened afterward should be considered only as the inflating and deflating of a mini-bubble.

In fact, often the initial token prices at the debut on the crypto markets are not very indicative, while what matters much more is the level reached after the first stabilization. In the case of Pi, this level is below $0.7, with a market capitalization below 5 billion dollars.

Note the -25% over the last seven days, and the -67% over the last thirty.

The trend of the price of Sui

For Sui the situation is different.

Sui is the native cryptocurrency of the network with the same name.

Made its debut on the crypto markets just under two years ago, and reached the all-time high at the beginning of January, above $5.3.

The initial price at debut was $1.4, then it fell below $0.4 after the long initial settling period that lasted a full five months.

In the early months of 2024, a first mini speculative bubble inflated, taking it beyond $2 within three months.

Subsequently, however, the prezzo returned below $0.6, which is 50% more than the bottom of the first descending phase post-listing.

Even after Trump’s electoral victory, another mini-bubble formed on the price of SUI, with an incredible +190% in just two months.

However, even that bubble eventually burst. The interesting thing, though, is that since then the price has not fallen below $2, which indicates that the second mini-bubble probably hides something more than just a simple medium-short term speculative trend.

The problem is that for the coming months, several Sui token unlocks are expected, which will significantly increase the circulating supply. It should be noted that with just over 3 billion Sui tokens in circulation, there are still almost seven billion already created but not yet distributed.

The trend of Dogecoin’s price

For Dogecoin the problem seems more serious.

DOGE is the native cryptocurrency of the memecoin Dogecoin, which landed on the crypto markets more than ten years ago.

Its sensational success is due to Elon Musk, who promoted it a lot in 2021.

Just think that before 2021 its price had never even exceeded 2 cents of a dollar, while as soon as Musk started promoting it, it jumped first to 7 cents, and then even up to the all-time highs of 73 cents in May of that year.

That incredible bull bubble then deflated, as always happens, and the price of DOGE in 2022 fell back below 6 cents of a dollar.

At the end of October 2024, the price had risen to 10 cents, but with Trump’s electoral victory, and especially with the creation of the D.O.G.E. (the Department Of Government Efficiency by Elon Musk), it managed to rise to almost 50 cents, not too far from the highs.

Instead, it was later discovered that Dogecoin has nothing to do with the D.O.G.E., so much so that Musk himself declared that the choice of the name of his department is not connected to Dogecoin, and that there are no government plans to use Dogecoin, or anything like that.

At this point, after being dumped by Musk, Dogecoin has very little left to bet on. It’s no coincidence that its price, which has dropped 7% in the last seven days and 19% in the last thirty, has slipped to 16 cents, not far from those 10 cents from which the mini speculative bubble of November and December started to inflate.