Crypto whales purchase $14M worth of Pi Coin, sparking speculation about a price surge amid strategic accumulation and technical indicators - IcoHolder.

Crypto whales have recently made a massive purchase of Pi Coin, acquiring 20 million tokens worth approximately $14 million from the centralized exchange OKX. This transaction, along with the subsequent transfer of tokens into private wallets, indicates a strategic accumulation of Pi Coin amid rising market interest. The move has raised questions about the whales' intentions and whether this is part of a larger plan to drive up the coin's value.

This activity is not isolated; daily buybacks of this scale have become increasingly common, leading to speculation that the whales may be intentionally creating a supply crunch on centralized exchanges (CEXs). Such actions could potentially set the stage for a price surge in the near future as the available supply diminishes.

Blockchain data reveals that the tokens were moved into two separate wallets, with transaction hashes publicly recorded for transparency. The first wallet received a large transfer, followed by a second significant transfer shortly after. These movements have fueled further rumors of strategic positioning, with many analysts suggesting that these transactions could be linked to plans for upcoming price movements.

Adding to the intrigue, just hours before the whale purchases, Pi Coin's circulating supply spiked by 5 billion tokens, growing from 7 billion to 12 billion. However, exchange wallet balances have not reflected this increase, leading to further speculation that the release could be tied to a liquidity pool adjustment or a preparation for Pi Coin's debut on additional exchanges. The Pi Barter Mall has hinted at the possibility of the 5 billion tokens being released in anticipation of a major exchange listing, although official confirmation is still pending.

From a technical analysis standpoint, Pi Coin appears to be showing strength on the charts. After a sharp price surge and an increase in trading volume, Pi Coin has stabilized between $0.58 and $0.59, suggesting consolidation before a potential breakout. Indicators such as the RSI and stochastic RSI are aligning in a way that suggests a bullish trend, with analysts forecasting a continuation of upward momentum. The coin is currently forming the "C" leg of a butterfly pattern, which could signal further gains, with possible price targets reaching up to $0.70.

For traders, several key entry points are being discussed, with suggested targets of $0.576, $0.614, $0.6685, and $0.702, along with a stop-loss set at $0.54. With the current technical indicators aligning with the increasing accumulation by whales, Pi Coin's future looks poised for potential growth as more liquidity enters the market.