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- The movement of 1.5 million Pi tokens to exchanges is a red flag, often a precursor to deeper sell-offs.
- Despite some bullish divergence, Pi Coin lacks the momentum needed for a recovery.
- Rising interest in alternative assets like TOKEN6900 could pull liquidity away from struggling coins like Pi.
The Pi Coin price continues its downward spiral after large-scale holders transferred 1.5 million PI tokens to major crypto exchanges within a 24-hour window. As broader altcoin markets post steady gains, Pi Coin remains an outlier, raising concerns about weakening investor confidence.
Whale Activity Sparks Sell-Off Fears
According to PiScan, major Pi Coin wallets sent a total of 1.5 million tokens to exchanges such as OKX, Bitget, and Pionex. This movement has rattled the Pi community, as whale sell-offs often signal a lack of confidence in short-term recovery.
Currently trading at $0.4415, Pi Coin has fallen nearly 10% in a single day. Analysts warn that if this bearish momentum continues, the price could slide further toward $0.26—its next technical support level. The token’s underperformance is in stark contrast to rising altcoins that are benefiting from broader bullish sentiment.
Technical Indicators Offer Mixed Signals
Despite the bearish trend, not all technical signals point downward. On the 4-hour chart, Pi Coin’s Relative Strength Index (RSI) is slowly climbing even as the price dips—sometimes an early sign of bullish divergence. Additionally, Bollinger Bands are tightening, indicating a potential breakout.
Still, without a significant influx of buying pressure, these indicators may not hold much weight. Resistance lies near $0.47, followed by $0.52, but bulls have yet to step in convincingly. Until sentiment shifts, the coin is likely to remain under pressure.
Also Read: Pi Network Mystery: “ODM” Wallet Accumulates 315M PI Tokens Ahead of Possible Buyback
Binance Listing Hopes and Competitive Distraction
Speculation around a potential Binance listing continues to fuel some optimism, though no official confirmation has been made. Until such news materializes, Pi Coin may struggle to regain investor trust.
Meanwhile, new meme coins like TOKEN6900 are gaining traction. In its presale, TOKEN6900 has already raised $637,000 and offers staking rewards up to 93% APY. Its irreverent, internet-first approach contrasts sharply with Pi Coin’s utility-based pitch—drawing attention from retail traders hunting for volatility and community energy.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
