What’s Next After 22% Crash?
The PI network has caused a lot of buzz in the cryptocurrency world lately, and for those who follow it, the question arose: Is it time to buy a Pi Coin? There is growing speculation that prices are about to rise, and many experts believe that the Pi coin is on the verge of a major price increase.
However, PI saw a sharp decline after the price surged significantly. The current price is $1.79, down 40% from its peak of $2.90, and crashes more than 22% in the past 24 hours. Despite a sharp decline, future developments are still involved, such as the upcoming Mainnet launch, KYC unlocking, and potential exchange lists such as Binance or Coinbase. If Pi can recover $2.20it is possible to rebound above $2.80, but a drop below $1.50 may lead to further declines.
Whale accumulation: a strong indicator
Whale accumulation is a key factor, suggesting that the price of Pi Coin may be on the verge of breaking through. Recent on-chain data suggest that large holders (whales) quietly accumulate PI coins. When whales buy assets, it usually shows their confidence in future prices. Historically, this accumulation was before prices rose as these investors were ready to sell at higher prices in the future.
Whale activities also help boost market sentiment. When large investors show confidence in the Pi coin, it may create a FOMO feeling among retail investors (fear of missing out), which makes the price even higher.
The impact of Bitcoin on the market
Bitcoin price movements usually set the tone for the entire cryptocurrency market. If Bitcoin exhibits strength, it can also pull AltCoins to altcoins like Pi Coin. As Bitcoin currently shows positive momentum, it is very likely that Pi coins will follow suit. The combination of Bitcoin strength and PI growth ecosystem creates ideal conditions for price increases.
