Pi Network price continues to fall today, August 15, as demand thins and unlocks continue. However, one anonymous whale investor has continued to accumulate the token, pointing to an eventual surge. Here are the top three reasons why the Pi crypto value may surge soon.
Pi Network Price May Surge Amid Whale Buying
A common recommendation in finance is to buy assets when most investors are fearful. One investor is using this quote to accumulate Pi Network tokens, a sign that he sees it as cheap. He also sees the ongoing fear as being highly unwarranted.
Data shows that the investor has bought 350 million Pi coins in the past few months such that he has become the sixth-biggest holder. At the current Pi Network price of $0.3830, his holdings are valued at over $134 million.
The whale has not commented on his buying spree. However, one can assume that he believes in Pi’s vision of building a popular cryptocurrency that will match Bitcoin’s popularity.
He also likely believes that Pi can become a major player in the artificial intelligence space through the recently launched Pi AI Studio product.
Potential Pi Coin Exchange Listings
The other possible reason why the Pi Network price may surge is that it may be listed by one or more tier-1 crypto exchanges. Today, Pi is only available in a handful of exchanges, with OKX being the only tier-1 company that has listed it.
The other exchanges where Pi tokens can be traded are Gate, BitMart, and MEXC. Notably, no new exchange has added it since its mainnet launch in February this year.
Therefore, the Pi coin price would explode higher if it is listed by top companies like Upbit and Binance.
There are a few reasons why these exchanges are yet to list it despite its popularity. It could be because they are concerned about its centralization since the developers hold billions of tokens in their wallets.
The lack of listing could also be due to Pi Network’s refusal to pay the listing fees that many companies charge for listing cryptocurrencies. These fees could range from $100,000 to millions of dollars for a token of Pi’s size.
Additionally, there are concerns that Pi Network could be a scam as one top crypto exchange warned in February.
Pi Network Price Technical Analysis
Meanwhile, a closer look at the 12-hour chart shows that it has formed the highly bullish falling wedge pattern. This pattern is made up of two descending and meeting trendlines. A bullish breakout normally happens when the spread between the two lines are about to converge.
In Pi Network’s case, the convergence has already happened. It has also retested the upper side, confirming a break-and-retest pattern, which often leads to a continuation.
Therefore, the most likely outcome is where the Pi Network price stages a strong comeback and hits the resistance at $1. $1 is about 150% above the current level.
The bearish Pi coin price forecast 2025 will be cancelled if it drops below the all-time low of $0.3229.
Summary
Pi Network token has been falling in the past few months. This crash could be about to end as whale accumulation continues, a falling wedge pattern forms, and exchange listing odds rise.
Frequently Asked Questions (FAQs)
Yes, a contrarian case for the Pi Network price can be made amid the ongoing whale buying.
Pi token price will likely rise as the odds of an exchange listing rise. It is only available in smaller tier 2 exchanges.
Yes, Pi Network has formed a falling wedge pattern and a double bottom, pointing to a strong bullish breakout in the near term.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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