Crypto whales buy $14M worth of Pi Coin, fueling speculation of future price surge amid supply crunch on OKX.

Crypto whales have purchased 14 million worth of Pi Coins from centralized exchange OKX. The tokens were later transferred off the exchange into private wallets.

The crypto whales are known for making massive trades, and their activity is often closely followed by members of the crypto community. In total, 20 million Pi Coins were purchased by crypto whales from OKX. The tokens were later withdrawn from the exchange.

The crypto tokens were valued at 0.548, putting the total value of the crypto purchase at approximately $14 million. The tokens were later moved into private wallets.

These tokens were part of the liquidity pool that is used by CEXs to facilitate trading in crypto pairs. When crypto whales withdraw large amounts of tokens from exchanges, it can reduce liquidity and make it more difficult for traders to enter or exit positions.

This isn’t an isolated event. These kinds of daily buybacks are becoming increasingly common, and some members of the crypto community believe that whales are intentionally creating a supply crunch on CEXs.

If crypto whales are indeed trying to manipulate the price of Pi Coin, it remains to be seen whether they will be successful. However, their actions are certainly noteworthy and could have a significant impact on the cryptocurrency markets.

5 Billion Pi coin Supply Spike Sparks Listing Rumors

This comes just hours after a sudden 5 billion spike in Pi Coin’s circulating supply. The total supply jumped from 7 billion to 12 billion.

Despite this massive change, exchange wallet balances haven’t changed. According to Pi Barter Mall, this sudden rise may stem from a 5 billion Pi liquidity pool release, possibly in preparation for a major exchange listing.

While official confirmation is still pending, such activity would align with rumors circulating earlier this year about potential exchange de-listing.

Pi Coin Price Prediction

Pi Coin is showing strength on the technical charts. Following a sharp price rise and surge in trading volume, Pi Coin is now consolidating. The cryptocurrency is trading in the range of $0.58 and $0.59.

Several indicators suggest a bullish breakout for Pi Coin. The RSI is forming a golden cross on both the 4-hour and daily charts. This signals a continuation of the upward trend.

At the same time, the stochastic RSI appears to be bottoming out. This is another indicator that could lead to a reversal to the upside.

Pi Coin is forming the “C” leg of the butterfly pattern, which is expected around the $0.5603 level. However, since the price is currently showing strength at the golden pocket of $0.5833, it is likely to move higher from here.

Strategy for Traders:

Targets: $0.576, $0.614, $0.6685, $0.702

Entries:

Light green: 0.540

Orange: 0.548

Blue: 0.558

Bank: 0.530

Fib: 0.538

Pivot: 0.548

Support: 0.540

Resistance: 0.560

Stop-Loss: 0.540