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#Whale.Alert #AltcoinBreakout #pi
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In recent months, the Pi Network community has been buzzing about a mysterious whale wallet identified by the address GAS…ODM. In just three months, this wallet has accumulated over 331 million Pi, with a current value of $148.5 million.
This persistent accumulation occurs against a backdrop of a sharp decline in the price of Pi, down over 70% from the peak in May. This move has sparked various interpretations within the community.
Who Owns the Whale Wallet Containing Over 330 Million Pi?
According to data from Piscan, the whale wallet has continuously withdrawn Pi from exchanges like OKX, Gate.io, and MEXC over the past three months.
Although the price of Pi continues to decline and is no longer appearing in the altcoin season of July, this address shows no signs of slowing down. In fact, it is accumulating even more robustly. Data shows that the wallet has executed several large transactions, withdrawing millions of Pi in just the past few days.
Accumulation activity of the Pi Network Whale Wallet. Source: Piscan
As of now, this wallet holds over 331 million Pi, worth $148.5 million. The wallet's balance has surpassed that of the trading wallets on Gate.io, Bitget, and MEXC. Currently, this wallet ranks 6th among the top 17 Pi Network wallets.
Many speculate that this is not an ordinary user. It may be related to the Pi Core Team (PCT) - the official development team behind Pi Network. Some believe this could be a buyback wallet, used to buy back tokens during the unlock period to help stabilize prices and manage supply.
“The 'ODM' wallet is currently accumulating PI at an unprecedented rate… This wallet may be a buyback wallet. Suspected to be owned by the PCT team,” Pi News reports.
However, this strong accumulation coincides with growing market expectations for the potential listing of Pi. This leads many to believe that “ODM” may belong to an exchange preparing liquidity for the launch of Pi.
“This indicates that a whale is accumulating Pi. It also raises speculation about a leading exchange preparing to list Pi,” investor Kim H Wong predicts.
So far, no exchange has officially confirmed that this wallet address belongs to them. The Pi Core team has also remained silent about the wallet's activity.
Regardless of who owns it, this accumulation has given Pi holders a positive sense of reassurance, especially as the price of Pi seems to be going against the trend of the altcoin season in July.
Pi Network compared to the market capitalization of Altcoins (TOTAL3). Source: TradingView
At the time of writing, Pi is trading steadily around $0.44, down more than 30% from last month’s high. In contrast, the market capitalization of altcoins (TOTAL3) has increased by 30% during the same period, from $800 billion to over $1 trillion.

Pi Coin's (PI) price is once again teetering on the brink, dangerously close to its all-time low (ATL). This top coin, once a beacon of promise for millions of mobile miners, is facing sustained selling pressure amidst bearish technical indicators and a lack of significant bullish catalysts. The question looms: can Pi Coin find crucial support, or is it headed for new historic losses?
Persistent Downtrend: Technicals Signal Continued Weakness 🔴📊
Pi Coin has been in a prolonged downtrend, with its price consistently moving below a declining resistance trend line since its peak earlier this year. Currently trading around $0.40 to $0.46, it's just a whisper away from its ATL of $0.40. Key technical indicators reinforce this bearish outlook:

Relative Strength Index (RSI): The RSI remains firmly in bearish territory (often below 50), indicating weakening momentum and strong selling pressure. Some readings show it near 32.96, just above oversold, suggesting minimal buying interest.Chaikin Money Flow (CMF): This indicator often shows funds flowing out of the market, confirming a lack of investor confidence.Moving Average Convergence/Divergence (MACD): The MACD is also in bearish territory, showing a downward trend and confirming a bearish price prediction.Exponential Moving Averages (EMAs): PI's price is consistently trading well below key EMAs (20-day, 50-day, and 200-day), signaling a sustained downtrend with lower highs and lower lows.
Despite occasional bounces from the $0.40 level in April and June, buyers' strength has waned, failing to trigger sustained recoveries.
Supply Dynamics & Market Sentiment: Challenges Ahead 🌐📉
Several fundamental factors contribute to Pi Coin's persistent price weakness. The delayed mainnet launch, initially scheduled for 2024 and pushed to January 2025 (and potentially later), has eroded investor confidence. Large-scale token unlocks, with millions of PI tokens entering circulation, create significant selling pressure, especially from early miners eager to realize profits. The absence of a substantial burn mechanism further exacerbates this supply overhang.
Furthermore, Pi Coin exhibits a negative correlation with Bitcoin (-0.27), meaning it tends to move in the opposite direction of the leading cryptocurrency. This makes recovery harder, especially during broader market rallies. Overall market sentiment towards Pi Coin remains weak, with weighted sentiment declining, indicating reduced confidence among holders. This lack of new inflows and community disappointment over clarity from the core team continues to weigh heavily on the price.
Critical Levels: The Fight for Survival 🚧
Pi Coin is now within 10-11% of its ATL of $0.40. If the current support at $0.40 fails to hold, the price could plummet further, with the next significant Fibonacci support level as low as $0.082. A break below $0.40 would mark a new all-time low and signal a major loss for holders.
Conversely, a confirmed breakout above a descending channel, or if the price can establish support above $0.45 and overcome psychological resistance at $0.50 to $0.51, could signal a potential short-term recovery. A break above $0.55 could push PI towards $0.63–$0.74 in the coming weeks, potentially reversing the bearish bias. However, without major catalysts like a successful mainnet launch, significant exchange listings, or robust ecosystem growth, the path of least resistance for Pi Coin's price prediction remains downward.
Conclusion ✨
Pi Coin's price is at a perilous point, dangerously close to its all-time low due to a confirmed downtrend, bearish technical indicators, and fundamental challenges like delayed mainnet launches and token unlocks. While key support levels offer a glimmer of hope, a sustained recovery for this top coin hinges on a significant shift in market sentiment and decisive catalysts. Investors must exercise extreme caution as Pi Coin navigates this critical period.

Disclaimer ⚠️: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high level of risk and volatility. Always conduct your own research (DYOR) and consult a professional financial advisor before making any investment decisions.

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