Is Institutional Interest in PI Network Evident Through a Massive Transfer ?
The Pi Network, a popular cryptocurrency project, is back in the spotlight after a significant movement of “whales,” sparking renewed interest. With the current PI price at $0.6423, down 77.13% from its all-time high of $2.98, recent on-chain activities hint at a potential turnaround.
Indeed, a massive transfer of 200 million tokens was recently made from a liquidity pool to a private wallet, sparking numerous speculations. According to popular crypto analyst Moon Jeff, this movement appears to be an over-the-counter (OTC) purchase, a method often used by institutional investors to avoid market slippage.
“This type of discreet accumulation usually signals strong confidence from large players,” Jeff stated on X.
OTC transactions bypass public exchanges and are typically conducted by major investors, indicating institutional interest and strategic accumulation within the network, even during a sluggish market.
PI Price Analysis : Volatility and Pi2Day Anticipation
The token price analysis shows a volatile trajectory, with fluctuations ranging from +2,889.30% between February 20 and 26 to -81.47% compared to its peak on March 31. More recently, PI has experienced a 14.3% drop over the last 14 days and 1.6% over the past 7 days. However, in the last 24 hours, the price has risen by 1% to reach $0.6423.
Currently, PI is entering its Ichimoku cloud in 4H. A breakout above the resistance at $0.66 could propel the PI price towards the resistance zone at $0.72.
Conversely, PI must maintain its support at $0.6 to avoid falling lower, potentially to $0.5 or $0.4. The CMF has been negative in 4H since May 27, raising concerns about PI token interest and demand. The POC at $0.639 could serve as a major support for this breakout.
In essence, all eyes are now on June 28, when the Pi Network will celebrate Pi2Day – a day known for significant updates and community events. Rumors suggest that a listing announcement on Binance could be imminent, though confirmation is pending. Such a development could drastically alter market dynamics.
While the token is still far from its peak, the recent whale movement and anticipation of Pi2Day could act as catalysts for a price surge. Investors closely monitor whether the $1.2 resistance can be breached or if ongoing Pi Network issues will continue to hinder its growth.
How to Buy PI on Bitget ?
- Create your account: Sign up on Bitget through their website or mobile app to explore PI.
- Complete KYC: Perform KYC verification, compliant with GDPR and AMF in 2025.
- Deposit funds: Add fiat currencies (EUR) or cryptos (USDT, BTC) to your wallet.
- Buy PI: If listed, access the spot market, select the PI/USDT pair, and place your order.
