Pi (PI) as underperformed may other cryptocurrencies in the past 30 days with a 23% loss as the project keeps struggling to convey credibility. However, although this favors a bearish Pi Coin price prediction, whale activity shows that something may be brewing.
The official account of the crypto community Cobak recently shared an interesting alert about some significant whale accumulation going on for Pi.
This whale wallet has amassed $125 million worth of the token – accounting for more than 3% of the circulating supply at the time – and has become the 6th largest holder of the cryptocurrency in just a few weeks.
Some notable patterns were spotted as well including increased purchases when PI dips and large withdrawals from exchanges that suggest a long-term investment horizon. No one seems to know the identity of this wallet but the community has speculated that it could either be a large exchange preparing for an upcoming listing of PI.
Large CEXs including OKX and Bitget control a significant share of the spot volume. This shows that there’s enough interest in the asset despite its latest downtrend. A Binance listing could result in a big move for the token in the near term and favors a bullish Pi Coin price prediction.
Pi Coin Price Prediction: Can PI Recover After Making a New All-Time Low?
Looking at the 4-hour chart, we can see that PI broke below a key trend line support recently as it made a new all-time low at $0.34. The whale we cited earlier scooped up a significant amount of tokens as this recent dip unfolded.
Although his involvement was not enough to keep PI above its $0.40 psychological support, the market is watching closely at how this narrative will unfold as it could anticipate a huge move for PI if listing rumors are confirmed.
The Relative Strength Index (RSI) shows a small bullish divergence already as it made a higher low as the price hit the $0.34 area again. This could be a signal that the downtrend is losing steam. However, it is still way too early to tell if it can result in a full-blown trend reversal.
A move above the $0.41 area could invalidate the trend line break. For now the baseline prediction is bearish from a technical standpoint but a listing on a top CEX could change the price’s trajectory dramatically.
Although Pi has not delivered the kind of returns that early investors expected this year, the best crypto presales like Bitcoin Hyper (HYPER) keep sending shockwaves across the market and attracting millions from investors.
Bitcoin Hyper (HYPER) Raises Nearly $7M to Launch its Bitcoin L2
Bitcoin Hyper (HYPER) is an ambitious project that aims to leverage the power of the Solana blockchain to foster a new era for BTCFi.
Through the Hyper Bridge, BTC holders will be able to invest in DeFi apps built on Bitcoin Hyper without having to leave the Bitcoin blockchain.
A canonical address will receive BTC in the Bitcoin network and the corresponding amount of tokens will be minted on the Hyper L2 to access its DeFi ecosystem.
Once top wallets and exchanges embrace this protocol, the demand for its utility token $HYPER will explode. To be an early buyer and reap the highest returns, you can head to the Bitcoin Hyper website and connect your wallet (e.g. Best Wallet).
You can either swap USDT, ETH, or SOL or use a bank card to invest.
Alejandro Ar
Tags: Bitcoin Bitcoin Hyper