Crypto expert PiMigrate has predicted that Pi Network’s price is on track to hit $5, as a surge in whale activity sees 41 million Pi coins removed from exchanges. This optimistic forecast is accompanied by predictions from other analysts and expectations surrounding upcoming events that could drive further momentum for the altcoin.
Whale Activity Spurs Bullish Sentiment
PiMigrate recently shared a post on X, asserting that Pi Network’s journey to $5 has begun. According to the analyst, the altcoin is holding strong support at the $0.60 mark, suggesting that a move toward the $5 target is entirely plausible. PiMigrate emphasized the importance of developing strong utilities for the altcoin, which he believes will push it toward this valuation.
Supporting this view, another analyst, Moon Jeff, also predicted that Pi Coin could reach $5, citing a bullish chart and the coin’s strong support at its current price level. This sentiment was echoed by analyst Xia, who noted that Pi Coin’s momentum has been rapidly building, particularly after the coin surged past the $0.63 level, with strong trading volume and positive indicators from the RSI and MACD.
Whale Movements and Declining Exchange Supply
Recent whale activity has further fueled the bullish outlook for Pi Coin. Over the past 48 hours, whales have moved a substantial 41 million Pi Coins, valued at approximately $27 million, off exchanges. This includes the transfer of over 13 million coins from the OKX exchange to private wallets. The reduced supply on exchanges is seen as a positive sign, indicating a shift toward long-term holding rather than short-term trading.
Pi Network’s Technical Outlook
On the technical front, analyst Alpha Crypto highlighted that Pi Network needs to reclaim its symmetrical triangle pattern on higher timeframes to continue its upward momentum. Should Pi successfully reclaim this structure, it could signal a potential long position for traders. However, if the price falls outside the triangle, a short opportunity could arise, suggesting that traders should await confirmation before making moves.
Upcoming Events to Watch
Fundamentally, upcoming events could also play a pivotal role in Pi Coin’s price trajectory. Speculation is growing about Pi’s potential listings on major exchanges, with notable mention of the cryptic post by exchange HTX fueling rumors. Pi community members are particularly hopeful about a possible listing on Binance, which could trigger a price surge.
Another key event that could influence Pi’s price is the Consensus 2025 conference, where Pi Network founder Nicolas Kokkalis is expected to speak. Industry experts believe this event will provide an ideal opportunity for Pi to showcase its ecosystem and gain further traction within the crypto community.
Conclusion
Pi Network’s price is currently trading around $0.63, marking a 3% decrease in the last 24 hours. Despite this, the broader outlook remains positive, with analysts pointing to strong whale activity, technical indicators, and fundamental events as key factors that could drive the coin toward its $5 target. Traders and investors will be closely monitoring Pi’s performance in the coming weeks as these developments unfold.
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