Pi Network Price Could Surge as Whale Continues Daily Accumulation In Line with  Wyckoff Theory

Pi Network price has stayed flat since August after losing about 90% from its peak, but steady daily purchases by a mysterious whale are fueling hopes of a possible rebound.

Crypto Whale Continues Pi Buying Spree

Although Pi’s price has dropped by 90% from its all-time high, one mysterious whale who thinks investors are too pessimistic has been buying large amounts of the coin, expecting it to bounce back.

Data shows that the whale currently holds over 373 million Pi coins worth over $128 million. This follows a recent purchase of 1.57 million tokens, continuing a buying trend that started last month.

The identity of the whale remains unknown, with speculations that it could be a fan of the Pi project or someone with inside information and connections to a crypto exchange planning to list it.

What is certain is that the whale follows the principle of Warren Buffett, which recommends buying when everyone is selling and staying away when others are greedy.

Wyckoff Theory Suggests a Rise in Pi Coin Price

According to the Wyckoff theory, a method of technical analysis that identifies the stages assets go through, Pi coin may soon surge.

Pi is currently in the accumulation stage, as shown by the one whale steadily buying it. During this stage, the price moves sideways with low volume before entering the markup phase, where it rises sharply.

In addition, the coin has formed a falling wedge, a pattern that is made up of two downward-sloping lines that come together, indicating a potential price increase that could double its current value.

This pattern resembles that of MYX Finance, a lesser-known cryptocurrency that surged after weeks of steady prices. If Pi follows the same trend, its price could rise to $1 and later $1.6675, about 388% above its current level.