Pi Coin has faced a decline, dropping nearly 70% since May. However, one anonymous investor, dubbed GAS…ODM, is actively purchasing coins, creating intrigue in the market.
Who is the whale GAS…ODM?
The identity of the wallet GAS…ODM remains a mystery, but there are various theories regarding its owner. Among them: the Pi Core Team could be secretly buying back tokens to reduce supply and stabilize the price, a major exchange might be accumulating liquidity ahead of a planned listing, or an anonymous investor is stockpiling for long-term gains before Pi's official launch. Attention to this wallet has been highlighted by user Cobak, who noted that GAS…ODM has become the 6th largest holder of Pi Network after acquiring 350 million coins in just four months.
Supply changes and their impact
Out of approximately 7.4 billion Pi moved to the mainnet, about 5.2 billion remain locked, leaving only 2.2 billion in circulation. The GAS…ODM wallet controls 331 million coins, exceeding the reserves of some exchanges. This reduces the available supply and potentially sets a price floor if selling pressure stays low.
Current situation with the Pi price
While the crypto market has gained about 30% during altcoin season, Pi remains stuck between $0.40 support and $0.50-$0.52 resistance. Technical indicators now show an oversold situation and a potential rebound. If Pi can break above the $0.52 level, analysts predict a possible climb to $0.75-$0.85, with an optimistic case suggesting $1.00 by 2026.
The actions of the anonymous wallet GAS…ODM raise discussions and questions about the future pricing strategy of Pi. Regardless of who is behind this holding, clarity on intentions could significantly impact a new phase in the development of Pi Network.
