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Current market data shows PI Coin is gradually becoming the focus of attention in the crypto market.
Recent whale accumulation and market behavior suggest a possible shift in investor confidence.
While Bitcoin struggles under selling pressure, fresh developments around PI Coin’s movement, user base, and upcoming events raise talks about a potential breakout.
PI Coin Outlook, Selloff and Rebound Moves
It is worth mentioning that PI Coin has been going through a turbulent run in recent days. CoinMarketCap listed its price at $0.4992 after a 0.51% drop within 24 hours.
This resulted from a broader crypto selloff that affected top coins like Bitcoin and Ethereum.
Dr. Nicolas Kokkalis, one of the lead figures in the PI Network, confirmed this in a post on X, noting the broader market correction.
Notably, the dip saw PI Coin fall below the $0.85 resistance mark, forming a descending triangle pattern.
Despite the pressure, some analysts believe the coin may bounce back. Reports pointed out that the current price action shows signs of being oversold.
If the price stays above the $0.53 support line, a rebound to $0.95 may follow.
PI Coin is trading within a limited range mainly because of its status as an enclosed mainnet. It is still not openly tradable on major exchanges.
The Pi Coin and Bitcoin correlation trend is quite interesting because Bitcoin’s price continues to dip. Pi Network team is focused on ecosystem growth, giving it room to decouple from the top coin.
With over 50 million users and an increase in utility-driven applications, the network is laying the groundwork for long-term relevance.
Current Whale Accumulation Trend and Implications
One of the most talked-about movements in the community is the recent whale activity.
In a recent post on X, Smartpioneer_Pi shared a wallet address now holding over 300 million PI Coins.
This is a boost from the 290 million previously reported by news outlets. The wallet’s total value is estimated at around $152 million.
Meanwhile, its source has been traced to a series of OKX withdrawals, including over 1.3 million PI Coins within two days.
This kind of movement shows growing interest among large holders. Some see it as a sign that major players expect a price rally.
Others are concerned about how much control one wallet can have on the future price of PI Coin in the open market.
The timing is especially important with the upcoming Pi2Day event on June 28, which may coincide with exchange listings.
OKX’s update recently hinted that this whale activity may be linked to possible trading announcements.
Bullish Breakout Soon?
There is growing speculation that PI Coin may be close to a bullish breakout. Several technical indicators and market signals point in that direction.
A Dr. Nicolas Kokkalis Parody account believes the real value of PI Coin will become apparent after it is listed on major exchanges.Imag
In his words, the current low price is temporary. He also emphasized that real apps are being developed on the network, making it more than just a digital token.
The number of active users and community engagement also set the project apart from many other coins.
If exchange listings are announced during the Pi2Day event, and if momentum holds, analysts say PI Coin could test the $0.95 level soon.
CoinDCX’s longer-term projections suggest a possible range of $4.00 to $4.30 by the end of the year.
A $5 mark is still speculative, but not entirely out of reach if adoption grows steadily.