In a major twist in the Pi Network universe, one of the large investors has amassed 290 million Pi (PI) within three months in the project's history. This accumulation, worth approximately 150 million dollars, has attracted significant attention in the Pi community and among market analysts.
The first trade took place on March 6 while the latest trade worth 2 million PI was completed by this whale 22 hours ago, one of the largest acquisitions in 3 months. This whale's activity has been closely monitored, and it has been reported that these tokens primarily occurred on centralized exchanges.
This sudden spike in accumulation coincides with increased volatility in the market, particularly in the meme coin space, where significant price surges have recently occurred. The timing of these moves has led to speculation that whales are preparing for potential listings on major exchanges like Binance.
The Pi Network community remains divided on what will happen during this accumulation process. On one hand, it could be seen as a good indicator of institutional interest and confidence in the future of the project; on the other hand, it represents a concentration of holdings with potential impacts on market stability.
As of now, the PI coin is trading at a price of 0.54 dollars, with a trading volume of over 100 million dollars. The market capitalization of PI is 4 billion dollars while a large amount remains locked. The circulating supply has yet to reach 7.5 billion while the total supply is 100 billion, indicating that the wave of real investors has not yet arrived.
Since its launch, the Pi coin has continuously depreciated, as it has fallen 68% from its ATH of 2.98 dollars. While many are worried about investing in this downtrend, this whale has a different view as they have added a significant amount of PI coins over the past three months and seem likely to continue accumulating for a potential future.
If the PI network reaches an all-time high again, this whale will hold approximately 600 million dollars, even at 1 dollar, the valuation would be 300 million dollars, which is a massive profit.
With this development, all attention is focused on the Pi Core Team to make an official statement that could guide the project as well as the role of such large investors.
