🐳 Whale transfers of 200 million PI before the June 28 update
Before Pi2Day on June 28, an astonishing amount of 200 million PI tokens was quietly moved from the liquidity reserve to a private wallet. Analysts - including Moon Jeff - interpret this as a potential off-exchange accumulation by institutional players, indicating increased confidence and strategic buildup.
🔥 Why this matters
OTC trades allow large investors to accumulate without significantly impacting prices, often indicating serious and long-term intent.
PI is currently trading near $0.64, a significant drop of about 77% from its all-time high of $2.98, but this quiet accumulation suggests that distribution may be nearing its end.
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📅 Impact of Pi2Day and Binance hype
As Pi2Day approaches on June 28, speculation swirls around a potential listing on Binance.
If confirmed, analysts believe PI could exceed $1.20, possibly even heading toward $2.
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📈 Recent price movements
Launch (February 20): PI opened at approximately $0.86, then surged by about 2889% by February 26.
Since then: it dropped by about 81% by March 31, rebounded in mid-May, but then fell by about 48%.
As of today, its price is around $0.58-$0.64, down about 33% in the last month, but it shows signs of technical support.
🧠 Technical indicators and patterns
Analysts point to a triple bottom chart pattern and tight Bollinger Bands - signs of volatility drying up and a potential breakout on the horizon.
Key resistance levels are at $0.86, $1.00, and $1.20-$1.67, with $1.67 acting as the "neckline" for a bullish movement.
🔍 Summary
Hopes are rising: institutional accumulation via OTC, the hype around Pi2Day, and Binance rumors all align for a potential bullish event in late June. While PI remains well below its peak, many see this accumulation as a potential catalyst for a breakout - if sentiment continues and news breaks.
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