The price of PI cryptocurrency is back in the spotlight due to significant market changes over the past 24 hours.
Whale Activity on PI
One of the largest PI whales, GASW…ODM, has made significant transactions over the past 5 days. In the last 24 hours, they withdrew 3.7 million PI tokens from the OKX exchange. Notably, this whale has successfully executed 5 major transactions, each exceeding $100,000. Currently, they are the 6th largest holder of PI tokens, with total assets worth approximately $195 million.
PI Price Performance
The PI price has successfully retested the $0.65 mark with a 130% surge in daily trading volumes. At present, the token is priced at $0.6497, marking a 21% increase. The market capitalization of PI is $4.95 billion, with a market dominance of 0.1472%. Analysis using Bollinger Bands indicates increasing volatility and positive momentum towards buyers, while the Bear Bull Power has shifted to a slightly positive trend.
Expectations for PI2Day Event
June 28 marks PI2Day, a significant date for the Pi Network community, often accompanied by major updates from the Core Team. In previous years, new options were introduced on PI2Day, including an upgraded version of the Pi Browser, new dApps, and KYC enhancements. With the expected second wave of KYC rollout, millions of users could gain access to the system. A successful PI2Day event may lead to increased user activity and could even spark rumors of exchange listings.
During the current week, a sustained bullish trend could see the PI price retest the $1 mark. However, if a bearish trend occurs, the price may revert to the support level of $0.5115.
