Pi Network Poised for Meaningful Price Rebound as Whale Investment Skyrockets
Pi Network might see a surge in value soon, thanks to increased investment from whales and the onset of altcoin season.
A whale investor sees great potential in Pi Network following its recent sharp decline. On-chain evidence suggests substantial daily buys totaling millions of dollars. This strategy led to the investor owning over 373 million Pi tokens, warranting their position as the biggest holder. Currently, these tokens hold a value exceeding $132 million but could skyrocket to $1.12 billion if Pi reaches its previous peak.
- Pi Network marks a significant drop since its mainnet start.
- The Altcoin Season Index reached 78,suggesting besteht upswing for many altcoins.
- Pending Federal reserve rate cuts may further boost demand for altcoins.
The technical picture looks promising. The 12-hour chart shows a ‘double-bottom’ formation at around $0.3321, hinting at possible upward pressure. The neckline at $0.4652 could become Pi’s next target.
Also encouraging is the Relative strength index forming a ‘bullish divergence,’ indicating a likely rise despite price fluctuations. With this index now above the neutral threshold of 50,Pi Network seems positioned for a notable rebound.
