Whales Accumulate PI as Pi Coin Eyes Breakout Toward $1
Pi Network’s native token PI has shown a modest 2% uptick as on-chain data points to accumulation by large wallets. CryptoQuant reports rising average spot order sizes, suggesting whales are buying near the bottom of PI’s consolidation range. Technical indicators are mixed: RSI sits near 48 and MACD is flat, while price approaches the apex of an ascending triangle. A confirmed breakout above the identified resistance could trigger a multi-stage rally potentially targeting $1 — a rise of roughly 300%+ from current levels — while a failure to hold the trendline could produce a drawdown near 16%. The article also highlights an unrelated early-stage meme/gaming project, PEPENODE (PEPENODE), a virtual-mining platform built on Ethereum that claims deflationary tokenomics and has raised over $2.2 million. Traders should note that on-chain whale accumulation and higher average order sizes can presage momentum, but mixed technical signals and standard market risks mean confirmation (volume and decisive close above resistance) is needed before positioning for a large upside move.
Bullish
On-chain accumulation by large wallets and rising average spot order sizes are bullish microstructure signals; such behavior has preceded rebounds in PI previously (the article cites a similar April structure that led to a sharp May recovery). The technical setup — price at the apex of an ascending triangle — also offers a clear bullish scenario if a breakout occurs with confirming volume. However, indicators (RSI ~48, flat MACD) are mixed and risk a ~16% pullback if the trendline fails. For traders, this implies a bullish bias conditional on confirmation: short-term trading could profit from breakout trades or range-bound scalps, while longer-term positions should wait for a decisive close above resistance and supportive volume to reduce false-breakout risk. The mention of PEPENODE is promotional and not directly relevant to PI’s technical/chain signals, so it should not alter PI trade rationale.