Pi Network Important Signal: Anonymous Whale Holdings Exceed 330 Million Pi coins, Preparing for a New Round of DEX Exchange Launch?

Pi Network (PI) price remains sluggish, currently reported at 0.4483 USD during the Asian afternoon session today (21). However, Kim H Wong, a well-known opinion leader in the Pi Network community, posted that an anonymous Whale holds over 330 million Pi coins, sparking speculation in the market about a new round of listings on DEX exchanges for Pi coins.

Kim wrote: "This wallet (GASWBDATCXXIUGHR7DWSFAAONZB2L5NFMBTDCYQQ2TQLRQNCTKJ2AODM) has been accumulating Pi coins for three months. Currently holding 330,354,740.34 Pi coins, worth 148,989,987.89 dollars."

(Source: X)

He stated that this indicates a whale is accumulating Pi coin. This has also sparked speculation about a top exchange preparing to list Pi coin.

In the past few days, the price of Pi coin has become a hot topic, as people's interest in its potential to break the $1 barrier has been rekindled. Google Search Console reports show that despite a generally bearish market, user attention on the "$1 target" for Pi coin has surged.

Analysts' follow-up forecasts indicate that under favorable market conditions, the price of Pi coin is expected to reach 1 dollar this year. However, as more and more people seek for the Pi price to reach 1 dollar, is now a good time to start buying Pi coin?

Let’s take a look at the data and market conditions that may allow the Pi coin to reach a price prediction of 1 USD.

Why does the price of PI coin continue to face structural challenges?

Despite the ongoing bullish trend of altcoins, the price of PI has still dropped by 10% on the weekly chart. Analysts believe that the inflow of PI worth 2.8 million USD into the exchange in July is the main factor exacerbating the selling pressure. Meanwhile, the price of PI continues to steadily decline, falling from 0.65 USD at the end of June to 0.44 USD today.

However, despite the strengthening of the "1 dollar target," analysis indicates that this may not have an immediate effect. Furthermore, as the Pi price approaches the downward support level of 0.40 dollars, critical Whale accumulation is needed to prevent it from falling further.

(Source: Trading View)

PI coin "1 Dollar Target" Searches Surge

Although investors previously predicted that the price of Pi coin would reach 4 dollars, the new target of 1 dollar seems more achievable. One important factor may be the recent growth of the Pi Network ecosystem. Some significant factors that could impact the price this year include:

1. The number of dApps has surged, with over 80 dApps currently available on the network.

2. Mining rate growth of 0.93% followed by community development

3, Newly launched AI App Studio

However, to achieve the price prediction of 1 dollar for Pi coin, the price must break through the resistance level of 0.53 dollars by the end of August or the beginning of the month. Breaking through the resistance level may help the token recover the high of 0.70 dollars, thereby further extending the upward trend until the price prediction of 1 dollar for Pi coin.