Pi Network’s price drops by 20% weekly, but this mysterious whale continues to buy PI: Details – Bitrss – Crypto World News

Tl; Dr.

• An unknown large investor has collected millions of PI ($ 0.35) tokens in the midst of the fall in assets in recent months.
• PI’s RSI has fallen in sold -up territory and points to a potential rebound. Moreover, the tokensali on exchanges have fallen somewhat in recent days, which suggests a reduced sales pressure.

This whale is on its way

The newest correction of the cryptomarkt only strengthened the unsatisfactory state of the Pi Network PI. His price recently immersed To a new low of $ 0.34 before returning somewhat to the current $ 0.35, which represents a fall of 21% on a weekly scale.

Pi -Price, Source: Coingecko

Despite the negative performance, some factors suggest that the free fall can stop in the short term. In recent months, a mysterious whale that is known as “Gas … ODM” has collected 350 million Pi -Tokens.

X Users Cobak unveiled That the big investor is now the sixth largest holder of the active and rumors caused the potential identity behind the wallet. Some theories include the Pi Network Foundation or even a large stock exchange that is preparing for a future list.

Last month, the PI community noted “Unusual activity” in the hot portfolios of Binance, assuming that the company could be the following to embrace the coin. Some members see August 15 as a potential date for the move.

Remember that Binance issued A vote in February to determine whether its users want to see PI available for trade on the platform. The vast majority was supportive, but the exchange still has to respect their wishes.

List of the Crypto -Kolos would most likely have a positive effect on the price of PI as a result of increased liquidity, improved accessibility and the reputation shot provided.

The whale activity (even if Binance is not the entity behind it) is a generally bullish development, because it reduces the amount of tokens on the open market. Fundamental principles of the economy determine that the valuation should be Go to the north If the question remains constant or to rise. Moreover, the actions of the large investor can also encourage smaller players to become a member of the ecosystem.

Extra bullish factors

Last week the amount of Pi -Tokens was stored on crypto fairs hit A new peak of more than 405 million. In the following days there has been a clear shift in that trend, and the figure now stand At around 400.4 million. Usually a falling balance on centralized platforms reduces immediate sales pressure and vice versa.

Pi’s relative strength index (RSI) also suggests that a rebound income can be. The technical analysis tool measures the recent speed and extent of price changes to help traders identify possible reversal points. The 30 measurements below indicate that it is actively sold over and possibly revival, while measurements above 70 are considered a Bearish territory. The RSI currently points to 25.

Pi RSI, Source: TradingView

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